The PIF JUST Made A HUGE Mistake!

Lucid Motors, PIF & EV-Market

The electric cars startups and linked firms are the driving force of investment portfolios, Saudi Arabia's interest in electric car pioneers is not a new story. The Kingdom was heavily reliant on its oil economy, and now that everyone is shifting to a world that consumes less fossil fuel, the country views itself as particularly vulnerable. As a result, they followed the new trend in order to get a foothold in this segment of the globe as well. It is paradoxical that the Public Investment Fund of Saudi Arabia has shown a great deal of interest in electric cars in recent years, given that the country's riches were derived from fossil energy. They have made a number of investments in EV businesses, the most prominent of which were Tesla and Lucid. However, PIF made a significant investment miscalculation in one of them. What happened to cause such a monumental blunder?

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