An electric-car startup that has plans to build a manufacturing plant in Arizona is in discussions for a $1 billion investment from Saudi Arabia.
Saudi Arabia’s deep-pocketed sovereign wealth fund is in talks to invest more than $1 billion in Newark, California-based Lucid Motors, Reuters reports, citing unnamed sources.
The Public Investment Fund of Saudi Arabia (PIF) and Lucid Motors have drawn up a term sheet that details an initial $500 million investment, followed by two additional tranches…
