Saudi Crown Prince MBS' $100 Billion Foreign Investment Quest Falters [BNN Bloomberg (Canada)]
Lucid Group, Inc. (LCID)
Company Research
Source: BNN Bloomberg
The first electric cars assembled in Saudi Arabia with Lucid Group Inc. twinkled under factory spotlights, designed to show the world how a kingdom built on oil could draw in foreign capital to become a global hub for the industries of the future. The short-term reality is more complicated. California-based Lucid is increasingly guzzling Saudi money to stay in business. Last week it got a $1 billion cash lifeline from the kingdom, on top of the $5.4 billion Saudi Arabia's Public Investment Fund (PIF) has already pumped in. Lucid, which counts the PIF as its top shareholder, had been held up as an example of foreign firms investing in Saudi Arabia's multi-trillion-dollar “Vision 2030” economic transformation plan. But Lucid's need for Saudi money is one sign the country's rushed attempt at reinvention is being paid for out of pocket, with the kingdom relying heavily on its oil riches to entice firms in. Read more: Lucid CEO Says Struggling EV Maker Is Crucial to Saudi Arabia “
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News
- Lucid (LCID) to Report Q1 Earnings: Here's What to Expect [Yahoo! Finance]Yahoo! Finance
- Where Will Lucid Motors Stock Be in 5 Years? [Yahoo! Finance]Yahoo! Finance
- Lucid Q1 Preview: Business Model Doesn't Look Sustainable [Seeking Alpha]Seeking Alpha
- Should You Buy Lucid Stock Before May 6? [Yahoo! Finance]Yahoo! Finance
- Is Lucid a Chinese Company? [Yahoo! Finance]Yahoo! Finance
LCID
Earnings
- 2/21/24 - Miss
LCID
Sec Filings
- 4/26/24 - Form 4
- 4/26/24 - Form 4
- 4/25/24 - Form DEFA14A
- LCID's page on the SEC website