Saudi Arabia decided to invest in the company Lucid Motors competition for Tesla


The company Lucid Motors detects its electric car model the first Lucid Air in 2016 in order to enter into direct competition with the company Tesla leading the electric car industry. In the past year, offered to us by Lucid Motors a sophisticated version of a car Lucid Air as a step to prepping to launch in major markets, including the United States of America even though they need support material for the introduction of this electric car into production.

As a result, the company received Lucid Motors an investment with a value exceeding SAR 3.75 billion from the Public Investment Fund of Saudi Arabia. The aim of this investment is to help the company Lucid Motors to finish the development of its electric car Lucid Air sector before entered into production in the US state of Arizona and a strategy to launch on a global level.

On this subject, stated Peter Rolinson, who holds the position of Chief Technology Officer in the company Lucid Motors, said : ” technology live imagine concept cars, but its benefits have not yet materialized. This is an obstacle to adoption of electric motors, so we’re in a Lucid Motors we will build on the full potential of electric cars related to this industry forward. “


On the other hand, stated The Spokesman of the Public Investment Fund of Saudi Arabia by saying : ” by investing in the electric car market which is witnessing steady expansion, we achieve great opportunities in the long-term growth with the support of innovation and technological development and raise the income of the kingdom of Saudi Arabia “.

It should be noted that the recently introduced policy of Lucid Air Electric in the capital, Riyadh, exactly in the conference the future of the investment. In this event, the company revealed that there are great opportunities to launch a car Lucid Air in the Middle East the case of the completion of the development of appropriate infrastructure with the understanding that he will put this car in the global markets in the year 2020 compared to 60 thousand US$.

The post Saudi Arabia decided to invest in the company Lucid Motors competition to buy Tesla appeared first on electronic.

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