Lucid Stock Rises After $1.5 Billion Investment for New SUV, Saudi Factory

Key Takeaways Electric vehicle (EV) maker Lucid Group announced $1.5 billion in funding commitments from its largest shareholder, a Saudi investment fund affiliate. The funding is expected to be used to build an EV factory in Saudi Arabia and to ramp up production of the company's Gravity SUV. Lucid posted a wider-than-expected second-quarter loss late Monday. Lucid Group (LCID) shares rose Tuesday after the company posted second-quarter results after the bell Monday and announced $1.5 billion in funding co ...