PIF says Lucid Motors is changing auto industry to reconsider e-vehicles

Lucid Motors is changing the auto industry to re-evaluate the potential of electric vehicles, the Public Investment Fund (PIF) said on its official Twitter account.

The fund further added that from the company’s headquarters in Silicon Valley, Lucid is breaking boundaries in design and reinterpreting mobility as an individual form of expression.

PIF also highlighted the program developed in 2019 in cooperation with Lucid to train young Saudi innovators to create a sustainable future for the Kingdom.

According to data compiled by Argaam, in September 2018, PIF signed an investment agreement of over $1 billion (SAR 3.75 billion) with Lucid Motors to help support the commercial launch of Lucid’s first electric vehicle in 2020.

#PIF strongly believes in actively engaging with youth to develop our Kingdom’s sustainable future. Since 2019, our internship partnership with @LucidMotors has trained the future innovators of our economy. pic.twitter.com/ZGKWITAZ4K

— Public Investment Fund (@PIF_en) September 2, 2020