Skip to comments.Tesla rival Lucid Motors gets $1 billion investment from Saudi Arabia goes on massive hiring spree
Posted on 10/22/2018 4:35:51 PM PDT by 2ndDivisionVet
Earlier this month, California-based electric car startup Lucid Motors ($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 ...
Producing a sedan in an SUV world. Not what I would consider a smart move.
Saudis helping and electric car company. Conflicted liberals in 3.....2......1.....
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."
That’s a very nice looking vehicle.
Sorta reminiscent of the first generation Mercury Sable...
Who did they have to kill?
At least that's what I notice as the price of gas fluctuates in CA.
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.
“TSLA really doesnt have anything that cant be duplicated.”
Actually, looney-tunes Elon is in a class by himself...
Tesla is about to lose its subsidies. The new companies will have them for years.
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?
A lot of the funding for Silicon Valley comes from the Saudis.
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 doesnt have anything that cant be duplicated.
Just like McDonald’s and hamburgers.
How long before Jerry Brown & the Calif politicians demand that Lucid employees are all UNION?
They are already pressuring Tesla over this conflict.
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?
Electric cars are stupid
So are electric bikes and scooters
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