Lucid Group’s largest shareholder has agreed to buy 100,000 of its electric vehicles over the next decade.
The government of Saudi Arabia, which is connected to the kingdom’s Public Investment Fund that owns 61% of Lucid, has made an initial commitment to buy 50,000 of Lucid’s EV with an option to purchase an additional 50,000 vehicles over that same 10-year time frame, according to an announcement Tuesday. Lucid shares popped 5% on the news in after-market trading.
Are YOU buying the story of Lucid? OR is the whole business model built on a SHELL GAME?
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