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Lucid Stock Slides on Plan to Raise $3B, Mostly From Saudi Investor

The EV maker said its biggest shareholder, the Saudi Public Investment Fund, will buy 265 million shares for about $1.8 billion. ....

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"Riyadh Air": Saudi Arabia announces new airline

Saudi Arabian Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud Sunday announced the launch of a new national airline, Riyadh Air, the Saudi Press Agency (SPA) reported. ....

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Lucid Helps Oil-Rich Saudi Arabia Go Electric in Its Carmaking Push

Saudi Arabia is tapping Tesla rival Lucid to help it become a hub for making electric cars, part of its plan to be less reliant on its oil income. ....

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Lucid Stock Price Spikes 98% Amid Saudi Fund Buyout Speculation

Saudi Arabia's Public Investment Fund currently owns 65% of Lucid, and has not confirmed if it will buy the remaining shares. ....

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Elon Musk Blames Saudi Investor for 'Backpedaling' Support

Elon Musk testified for a second day in a shareholder trial, blaming Saudi investor Yasir Al-Rumayyan for "backpedaling" on taking Tesla private. ....

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