PIF of Saudi Arabia invests $1 billion+ in Lucid Motors

(Silicon Valley / Saudi Arabia)

According to an article on Benzinga, Lucid Motors confirmed today that it has closed its previously announced $1 billion+ investment from the Public Investment Fund of Saudi Arabia (PIF).

This latest round of financing further propels the company towards the commercial launch of its first electric vehicle, the Lucid Air, in 2020. Lucid and PIF are strongly aligned around the vision to create a global luxury electric car company based in the heart of Silicon Valley with world-class talent.

Read the original article on Benzinga:  Lucid Motors Closes $1 billion+ Investment from the PIF of Saudi Arabia