Lucid Reports $790M Loss
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Ayar Third InvestmentQuartz
•Saudi Arabia keeps pouring money into an unprofitable California EV startup
82% Informative
Lucid reported a second-quarter net loss of $790 million even though it recorded a record number of sales for its Air electric sedan.
The loss was 3.4 percent higher than it was during the same quarter last year .
Saudi Arabia’s Public Investment Fund is sending the automaker another $1.5 billion to shore up its finances.
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