Saudi Arabia's Lucid Motors Stake: A Pattern of Strategic Investment The latest move by Prince Al Waleed bin Talal Al Saud has added another layer to the complex web of investments in electric vehicle company Lucid Motors.
The prince's purchase of a 5% stake in the company is part of a larger pattern of strategic investment by Saudi Arabia.
The Public Investment Fund (PIF) has been majority owner of Lucid since its initial investment in 2018, when Saudi Arabia abandoned plans to take Tesla private and instead chose to support Lucid Motors through investments and loans.