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Quartz

Saudi Arabia keeps pouring money into an unprofitable California EV startup

Quartz
Summary
Nutrition label

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.

VR Score

79

Informative language

74

Neutral language

79

Article tone

formal

Language

English

Language complexity

48

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

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