Saudi Arabia orders up to 100,000 electric vehicles in lift for start-up Lucid

RIYADH, Saudi Arabia – Saudi Arabia will buy between 50,000 and 100,000 electric vehicles over the next decade from Lucid Group Inc., backed by the Kingdom’s sovereign wealth fund, as a boost to the carmaker’s efforts to increase sales revenue.

Lucid shares rose 4.3% to $ 18.42 after opening hours Tuesday after the announcement.

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