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EV Startup Lucid Motors Appoints Former Tesla VP of Vehicle Engineering as CEO

EV Startup Lucid Motors Appoints Former Tesla VP of Vehicle Engineering as CEO

Luxury electric vehicle startup Lucid Motors today announced that its Board of Directors has appointed current CTO Peter Rawlinson as CEO, effective immediately. Rawlinson formally served as Vice President of Vehicle Engineering and Chief Engineer of the Tesla Model S, working under Elon Musk.

Eric Walz2019-04-23 11:31 PT

Saudi Arabia’s Public Investment Fund Hedges its Stake in Tesla

Saudi Arabia’s Public Investment Fund Hedges its Stake in Tesla

Saudi Arabia’s Public Investment Fund (PIF) has cut its exposure to electric carmaker Tesla Inc. The move is a sign that the PIF is concerned about Tesla’s long-term profitability.

Eric Walz2019-01-28 11:32 PT

Electric Automaker Lucid Motors Announces $1 Billion Investment from Saudi’s PIF

Electric Automaker Lucid Motors Announces $1 Billion Investment from Saudi’s PIF

Saudi Arabia’s Public Investment Fund (PIF) has agreed to invest over $1 billion in California-based luxury electric automaker Lucid Motors, a startup looking to rival Tesla with a ultra-luxurious car called the Air.

Eric Walz2018-09-17 11:13 PT

Saudi Arabia Public Investment Fund in Talks to Invest $1 Billion in Tesla Rival Lucid Motors

Saudi Arabia Public Investment Fund in Talks to Invest $1 Billion in Tesla Rival Lucid Motors

According to a Reuters report, the Saudi Arabia sovereign wealth fund is in talks to invest in luxury electric car startup Lucid Motors, people familiar with the matter said on Sunday. Sources told Reuters that the PIF and Lucid Motors have drawn up a term sheet under which PIF could invest more than $1 billion in Lucid Motors and obtain a majority ownership.

Eric Walz2018-08-20 12:13 PT