Screenshot from Lucid Motors’ website.
Lucid Motors, not Tesla, tapped the firm to advise on a $1 billion investment from Saudi Arabia's sovereign wealth fund.
September 17, 2018 at 11:54 PM
1 minute read
The original version of this story was published on The Recorder
A month after Elon Musk unsuccessfully sought an investment from Saudi Arabia for Tesla Inc., another electric vehicle manufacturer has secured a $1 billion infusion from the oil-rich country.
Lucid Motors Inc., a Newark, California-based company that has a strategic partnership with South Korea’s Samsung SDI Co. and LG Chem Ltd., announced Monday that it had secured a $1 billion investment from Saudi Arabia’s sovereign wealth fund.
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