September 17, 2018 / 1:29 PM / in a month

Saudi's PIF invests more than $1 bln in Lucid Motors

DUBAI, Sept 17 (Reuters) - Saudi Arabia’s Public Investment Fund said on Monday it had agreed to invest more than $1 billion in Lucid Motors to produce electric vehicles.

The deal will provide funding to enable the commercial launch of Lucid’s first electric vehicle, the Lucid Air, in 2020. (Reporting by Tom Arnold and Maher Maher Chmaytelli; editing by Louise Heavens)

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