The deal comes just ahead of Lucid's planned production of its much-awaited Gravity SUV later this year and keeps the EV maker sufficiently funded till the...
- Lucid Group said on Monday its largest shareholder, Saudi Arabia 's Public Investment Fund , will inject $1.5 billion in cash, as the electric vehicle maker looks to add new models to its product line .The deal comes just ahead of Lucid's planned production of its much-awaited Gravity SUV later this year and keeps the EV maker sufficiently funded till the fourth quarter of 2025.
Revenue for the second quarter was $200.6 million, compared with analysts' estimate of $192.1 million, according to LSEG data. The company posted a net loss of $790.3 million in the June quarter, compared with a loss of $764.2 million a year earlier. Daughter Claims She Spent 31 Years Visiting Dad’s Gravesite Only to Learn Remains Weren’t There: ComplaintDeals include one with tech giant Microsoft, which announced last month that it will use Lumen's network equipment to expand its capacity for AI workloads. Lumen, which provides secure digital connections for data centers, said on Monday that it is involved in active discussions with customers to secure sales opportunities worth an additional $7 billion.
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