#Lucid Group

Lucid

Lucid gets up to $1.5bn in funding from PIF ahead of electric SUV rollout

The deal comes just ahead of Lucid’s planned production of its much-awaited Gravity SUV later this year

Lucid Group secures $1bn from Saudi PIF affiliate

Saudi-backed Lucid Group to raise $1bn from PIF affiliate

The automaker plans to use the proceeds for general corporate purposes including capital expenditures and working capital

PIF’s Ceer to build $1.3bn EV factory in Saudi Arabia

PIF’s Ceer awards $1.3bn contract for EV factory in Saudi Arabia

The electric carmaker awarded the contract for a production facility spanning more than one million square meters

Lucid opens Saudi Arabia’s first car production facility

Lucid opens Saudi Arabia’s first car production facility

The new facility will assemble Lucid Airs, with an initial capacity to produce 5,000 units a year

Aramco, PIF and China’s Baosteel steel JV

Saudi Arabia’s sovereign wealth fund PIF reports $11bn loss for 2022

The PIF is in the midst of a global investment spree after it was transformed from a domestically-focused holding company into a sovereign fund in 2016

Lucid’s Saudi EV factory to receive $3.4bn in incentives

The factory will be located in the King Abdullah Economic City

Lucid Motors

Lucid will sell up to 100,000 EVs in deal with Saudi Arabia

Lucid said it would start delivering the vehicles by the second quarter of 2023