ijra — Live news map of the Middle East, Sudan and Pakistan

Investment fund pumps additional $1.75 billion to support Lucid's liquidity, strengthening its ability to fund operations until the last quarter of 2027

Saudi Arabia ·

Lucid received an additional $1.75 billion from the Saudi Public Investment Fund, its largest shareholder. The extra liquidity raises the ceiling of the drawdown loan facility provided by the fund to about $4.23 billion, giving the company more time to carry out its transformation and cost-cutting plan.

The Public Investment Fund is Saudi Arabia's sovereign wealth fund, and Lucid is a US electric vehicle maker in which the fund is a major shareholder.

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