Mahmoud Mansour, Assoc. CIPD L5’s Post

View profile for Mahmoud Mansour, Assoc. CIPD L5, graphic

Recruitment Manager @ Restore Talent Solutions | Helping Businesses Find The Right Talent and Solutions | Recruitment Consultation | Talent Acquisition Professional | Workforce Staffing | Talent Management

US electric carmaker #Lucid Group secures $1.5bn from #PIF! "#US #automaker #LucidGroup has secured $1.5 billion in new #funding from its #majority #shareholder, #AyarThirdInvestment Co., an affiliate of #SaudiArabia’s #PublicInvestmentFund. The deal includes $750 million in #convertible #preferred #stock via private placement and a $750 million #unsecured #delayed #drawterm #loan facility, subject to #certain #terms and #conditions, according to a statement. This is in line with #PIF’s aim to be a #global #investment #powerhouse and the world’s #most #impactful #investor, enabling the creation of new sectors and opportunities to #shape the #future global #economy while driving #Saudi #Arabia’s #economic #transformation. It also aligns well with #Lucid’s mission to expedite the #global #shift toward #sustainable #transportation and #energy by crafting the most #advanced #electric #vehicles available. The #EVmaker also #announced its #financial #results for the second quarter, which ended June 30. Lucid reported #revenue of $200.6 million on #deliveries of 2,394 vehicles during this period, according to a statement. The #carmaker expects to #manufacture approximately 9,000 vehicles in 2024." #autonews #automotivenews #news #auto #mobility #electricvehicles #electriccars #sustainability #sustainable #evmanufacturing #evmarket

US electric carmaker Lucid Group secures $1.5bn from PIF 

US electric carmaker Lucid Group secures $1.5bn from PIF 

arabnews.com

To view or add a comment, sign in

Explore topics