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Tesla rival Lucid Motors gets $1 billion investment from Saudi Arabia goes on massive hiring spree
Thinknum ^ | October 22, 2018 | James Mattone

Posted on 10/22/2018 4:35:51 PM PDT by 2ndDivisionVet

Earlier this month, California-based electric car startup Lucid Motors ($LUCIDMOTORS) locked in a billion-dollar infusion from the Public Investment Fund of Saudi Arabia. Through this deal, the official sovereign wealth fund of the Saudi government is helping to put Lucid on track to produce its first commercially available electric vehicle, the Lucid Air, on the market in 2020, thus putting it in direct competition with Tesla ($NASDAQ:TSLA).

Since announcing its deal on September 17, Lucid listed more than double the amount of job openings month-over-month, which is understandable given a billion-dollar influx in capital....

(Excerpt) Read more at media.thinknum.com ...


TOPICS: Business/Economy; Local News
KEYWORDS: automotive; california; diesel; electric; electricvehicles; elonmusk; energy; falcon9; falconheavy; hiring; hydrocarbons; internalcombustion; jobs; lucid; lucidmotors; maga; opec; saudiarabia; spacex; tesla

1 posted on 10/22/2018 4:35:51 PM PDT by 2ndDivisionVet
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To: 2ndDivisionVet

Producing a sedan in an SUV world. Not what I would consider a smart move.


2 posted on 10/22/2018 4:38:45 PM PDT by AlaskaErik (I served and protected my country for 31 years. Progressives spent that time trying to destroy it.)
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To: 2ndDivisionVet

Saudi’s helping and electric car company. Conflicted liberals in 3.....2......1.....


3 posted on 10/22/2018 4:47:17 PM PDT by jdsteel (Americans are Dreamers too!!!)
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To: 2ndDivisionVet
Nice styling...


4 posted on 10/22/2018 4:48:51 PM PDT by newfreep ("INSIDE EVERY PROGRESSIVE IS A TOTALITARIAN SCREAMING TO GET OUT" @HOROWITZ39, DAVID HOROWITZ)
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To: jdsteel

https://idioms.thefreedictionary.com/hedge+bets


5 posted on 10/22/2018 4:50:51 PM PDT by EEGator
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To: AdmSmith; AnonymousConservative; Arthur Wildfire! March; Berosus; Bockscar; cardinal4; ColdOne; ...
Imagine -- biggest oil reserves in the world... I remember how Sheik Yamani said, "the Stone Age didn't end because people ran out of stones."

6 posted on 10/22/2018 4:53:04 PM PDT by SunkenCiv (and btw -- https://www.gofundme.com/for-rotator-cuff-repair-surgery)
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To: newfreep

That’s a very nice looking vehicle.


7 posted on 10/22/2018 4:58:07 PM PDT by neverevergiveup
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To: newfreep

Sorta reminiscent of the first generation Mercury Sable...


8 posted on 10/22/2018 5:01:19 PM PDT by chrisser
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To: 2ndDivisionVet

Who did they have to kill?


9 posted on 10/22/2018 5:02:47 PM PDT by x
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To: AlaskaErik
It's an SUV world when the price of gas is low. It starts turning into a sedan world as the price goes high.

At least that's what I notice as the price of gas fluctuates in CA.

10 posted on 10/22/2018 5:14:18 PM PDT by who_would_fardels_bear
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To: 2ndDivisionVet

I always thought TSLA was a bad buy because long term they must become a commodity that competes with every other industry that has electric motor technology - which means just about everybody. GM and Ford can compete long term because of economies of scale, but TSLA really doesn’t have anything that can’t be duplicated.


11 posted on 10/22/2018 5:18:31 PM PDT by DaxtonBrown
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To: DaxtonBrown

“TSLA really doesn’t have anything that can’t be duplicated.”

Actually, looney-tunes Elon is in a class by himself...


12 posted on 10/22/2018 5:34:26 PM PDT by Reverend Wright (I am a Putin bot. (they, their, theirs))
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To: Reverend Wright

Tesla is about to lose its subsidies. The new companies will have them for years.


13 posted on 10/22/2018 5:44:48 PM PDT by SaxxonWoods (Stop The Madness. Do Not Respond To Vanity Posts.)
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To: 2ndDivisionVet; Gamecock; SaveFerris; FredZarguna; PROCON; Army Air Corps; KC_Lion; bagster
Lucid Motors

Hmmmm. I need to have a talk with someone about that name.

That's like naming a company Krameri-Car or Van-Dalay Motors. It's stealing. It's outrageous!

Is Jackie available?


14 posted on 10/22/2018 5:47:44 PM PDT by Larry Lucido
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To: 2ndDivisionVet

A lot of the funding for Silicon Valley comes from the Saudis.


15 posted on 10/22/2018 6:12:41 PM PDT by Brilliant
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To: 2ndDivisionVet
Who would buy that if you can have a Porsche electric...


16 posted on 10/22/2018 6:18:06 PM PDT by Bon mots
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To: DaxtonBrown

I always thought TSLA was a bad buy because long term they must become a commodity that competes with every other industry that has electric motor technology - which means just about everybody. GM and Ford can compete long term because of economies of scale, but TSLA really doesn’t have anything that can’t be duplicated.

...

Just like McDonald’s and hamburgers.


17 posted on 10/22/2018 6:54:43 PM PDT by Moonman62 (Give a man a fish and he'll be a Democrat. Teach a man to fish and he'll be a responsible citizen.)
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To: 2ndDivisionVet

How long before Jerry Brown & the Calif politicians demand that Lucid employees are all UNION?

They are already pressuring Tesla over this conflict.


18 posted on 10/22/2018 7:07:23 PM PDT by ridesthemiles
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To: ridesthemiles

The next thing democrats will say republicans are threatening to defund Tesla....and we’ll wonder to ourselves why the hell are we funding Tesla in the first place?


19 posted on 10/22/2018 8:15:07 PM PDT by Phillyred (Kieran Hussie)
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To: 2ndDivisionVet

Electric cars are stupid
So are electric bikes and scooters


20 posted on 10/22/2018 9:42:33 PM PDT by Truthoverpower (The guvmint you get is the Trump winning express !)
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