TechCrunch·3 min read·medium
Saudi prince buys 5% stake in Lucid Motors
S
Sean O'Kane
✦AI Summary
Saudi Prince Alwaleed bin Talal has acquired a 5% stake in Lucid Motors, bolstering the company's financial position amid restructuring efforts. This investment follows a period of volatility for the EV maker, which is already majority-owned by the Saudi Public Investment Fund.
Prince Alwaleed bin Talal Al Saud, a member of the Saudi royal family, has purchased a 5% stake in Lucid Motors, increasing the Kingdom’s overall ownership of the electric vehicle company.
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