Business · 14h ago
Saudi Prince Takes 5% Stake in Lucid Motors
A Saudi prince has acquired a 5% stake in Lucid Motors, following rumors that the kingdom might take the EV maker private. Lucid has denied those privatization speculations. The investment signals continued Saudi interest in the electric vehicle sector.
Meridian48 take
The stake is modest but keeps the spotlight on Saudi Arabia's deep ties to Lucid, which has long relied on the kingdom's financial backing.
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