Saudi investors of PIF to invest $1 billion in US car maker Lucid
The Public Investment Fund (PIF) an investment fund owned by Saudi Arabia, has announced commitment to invest $1 billion in Lucid, an electric car maker.
Founded in 2007, Lucid Motors is an American automotive company specializing in electric cars. It is based in Newark, California with 1300 employees. (Founded in 1971, PIF is a sovereign wealth fund owned by Saudi Arabia, founded for the purpose of investing funds on behalf of the Government of Saudi Arabia. The PIF has a portfolio made up of approximately 200 investments in the fields of telecoms, aerospace, energy, green technologies, and security. DubaiBeat previously reported their $3.5 billion investment in Uber here).
To see a list and email addresses of investment firms similar to PIF check the Middle East Investors Directory.
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