Crown Prince Mohammed Bin Salman meets President of Lucid Motors company

Wednesday 24th Oct 2018
MBS meets with Lucid Motors

MBS meets with Lucid Motors

Crown Prince Mohammed bin Salman, and Chairman of the Public Investment Fund, met on the sidelines of the Future Investment Initiative today, with Lucid Motors CEO Sam Weng.

During the meeting, they discussed opportunities to develop the company and move it to advanced industrial stages. The meeting comes just one month after Saudi Arabia’s Public Investment Fund (PIF) has agreed to invest more than $1 billion in Lucid Motors, adding to the emerging competition facing U.S. electric vehicle maker Tesla Inc, which has been recently struggling due to the erratic behaviour of its founder Elon Musk.

The Lucid investment, which PIF said exceeds $1 billion, is also part of Saudi Arabia’s plan to build an environmentally friendly economy, to diversify the kingdom away from fossil fuels.

Lucid Air:

More News

US May Deny Visa To Saudi Royals Over Khashoggi case

Senate Republicans are apparently seeking a way to punish the Saudi Royal family over alleged human rights crimes by denying visas for members of the kingdom’s Royal Family. Senate Foreign Relations Chairman Jim Risch, an […]