Saudi Arabia Just Gave Lucid Another $1.75 Billion to Reach Its Cheaper SUV
5 Articles
5 Articles
Saudi Arabia Just Gave Lucid Another $1.75 Billion to Reach Its Cheaper SUV
Lucid's biggest shareholder keeps writing checks, but the support comes with conditions that could change fast. Before a cheaper SUV arrives, one lender holds the answer to how long the company can keep burning cash.
Lucid secures access to additional $1.75bn in PIF financing
Lucid Group has obtained $1.75 billion in additional financing from Saudi Arabia’s Public Investment Fund, increasing its total liquidity to $3.75 billion. This financial boost aims to support the company's transformation plan as it prepares to launch a new midsize vehicle lineup and continues its cash flow improvement strategy, while also progressing on a new manufacturing facility in Saudi Arabia.
In November 2026, Lucid obtained $1.75 billion in credit from the Saudi PIF fund to hold up until 2027 in a darkened electric market. Behind this infusion, a risky bet around a midsize model and a tight recovery plan.
Saudi Fund Extends $1.75B in Credit as Lucid Posts $831M Quarterly Loss - Greater Phoenix In Business Magazine
Saudi Arabia’s Public Investment Fund is extending another $1.75 billion in credit to Lucid Group, the electric vehicle maker that builds its Air sedan and Gravity SUV in Casa Grande. The deal deepens a relationship that helped Lucid build its Arizona factory and now supports its plans to build a more affordable line of electric…
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