Al-Waleed bin Talal invests in Lucid
Prince Walid bin Talal acquired a 5% stake in Lucid Motors, the electric vehicle company, valued at less than two billion dollars, according to his disclosure to the U.S. Securities and Exchange Commission. This led to a 3% increase in the company's stock price. The company has been supported by the Saudi Public Investment Fund since 2018 to expand its global operations and build an electric vehicle industrial base in Saudi Arabia, despite the stock's decline two weeks ago following reports that the company had filed for bankruptcy protection, which it later denied.
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