Will Saudis’ $1.5B cash infusion help Lucid compete with Tesla? - Al-Monitor: The Middle Eastʼs leading independent news source since 2012

Analysis

Adam Lucente

Adam Lucente , Jack Dutton

Aug 11, 2024

A picture taken on July 14, 2022, ahead of a visit by the United States president to Saudi Arabia, shows hostesses in a car manufactured by US electric vehicle maker Lucid Group. — Hostesses at the KSA Green Transition Journey exhibition in Jeddah sit in a car manufactured by the Lucid Group, a US electric vehicle maker, July 14, 2022. — AMER HILABI/AFP via Getty Images

People look at a BYD Seal car by Chinese electric vehicle (EV) manufacturer BYD Auto at the Bangkok International Motor Show in Nonthaburi, March 27, 2024.

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Getty Images

China's Nio electric vehicle maker gets $2.2 billion from UAE investment firm

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Attendees look around the at NIO EP9 during the 2022 Central China International Auto Show on July 14, 2022, in Wuhan, Hubei province, China.

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Tesla CEO Elon Musk leaves the Phillip Burton Federal Building on January 24, 2023 in San Francisco, California. Musk testified at a trial regarding a lawsuit that has investors suing Tesla and Musk over his August 2018 tweets saying he was taking Tesla private with funding that he had secured. The tweet was found to be false and cost shareholders billions of dollars when Tesla's stock price began to fluctuate wildly allegedly based on the tweet. (Photo by Justin Sullivan/Getty Images)

Elon Musk denies report that Saudi Arabia, UAE intend to invest in SpaceX

Salim A. Essaid