Electric vehicle manufacturer Lucid raised $1.5 billion (approximately 28 billion lira) with the sale of shares. The company will use the money to strengthen its balance sheet and liquidity.
Electric car manufacturer Lucid Group has made its big move. The company raised $1.5 billion through the sale of Shares. Nearly 86 million shares were sold by the Saudi Arabian Public Investment Fund for $915 million, and 56 million shares were sold for $600 million through a secondary public offering.
THE SHARE OF THE SAUDI IS 62 PERCENT
After the share sale, the share of the Saudi Arabian Public Investment Fund in the company increased to 62 percent. With this move by the oil giant Saudi Arabia, the value of investments in innovative technologies began to emerge. The company will strengthen its balance sheet and liquidity position with its sales revenue.
US-CENTERED ESTABLISHED
Operating in California, USA, Lucid took its place in the electric car market in 2016. The company, which has close to 2000 employees, is increasing its market share in the field of electric cars.
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