Lucid Motors may get financing worth $ 1 billion in order to compete with the company Tesla

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The company boosted Tesla their place in the last few years in the sector of electric cars full. Moreover, they are pushing the boundaries of automotive technology to new heights thanks to features such as self-driving. There are companies looking to challenge Tesla, and one of these companies is Lucid Motors. Revealed to us company for a copy of a typical of its electric car at CES 2017. The company is unable to collect the required funding to start production, however they seem to be able to address its problems soon, thanks to the potential funding of $ 1 billion.

Reports issued from the news agency Reuters that the Sovereign Wealth Fund in Saudi Arabia is in talks with the company Lucid Motors to invest more than billion USD in the company. It is said that discussions have reached an advanced stage so that he has been preparing the paper tape as well.

According to reports, the Fund will be the disbursement of funds in stages so that it will be in the first phase of investment 500 million USD, while it will be in phases two remaining disbursements have not been disclosed provided that the company Lucid Motors able to keep up with production.

It is interesting to note that the Sovereign Wealth Fund in Saudi Arabia, being also in talks with a company Tesla about the suggestion of Elon Musk to transform the company into a private company. Has bought already 5 percent of the company through acquisition of shares from the public markets. Did not know company Lucid Motors on the report, said a spokesman for the company ” does not comment on financing activities Lucid Motors “.

 

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