12/8/2023 0 Comments Stock livx![]() On Wednesday unveiled the latest addition to its muscle truck franchise - a Ranger Raptor midsize pickup with a 405-horsepower engine and a suspension designed for racing across the desert, made possible in part by Ford's electric vehicles. That performance could put a potential dent in Saudi plans to build its own EV industry, which includes Lucid's first manufacturing plant outside the U.S., as part of its far-reaching diversification plan led by Crown Prince Mohammed bin Salman.Ī Ford Ranger Raptor is seen at a Ford event in Michigan, U.S., May 5, 2023. company, in which PIF owns a 60.46% stake, fell well short of analyst forecasts on Tuesday with a sharp first quarter revenue fall and a cut to its 2023 production outlook. ![]() investments by Saudi Arabia's Public Investment Fund (PIF) which has been tasked with driving the kingdom's ambitious plan to cut its reliance on oil revenue.įor PIF, the Lucid bet is proving challenging. The electric car maker is among the biggest U.S. REUTERS/Andrew KellyĪre often displayed prominently at public events and financial conferences in Saudi Arabia to symbolise its crown prince's multi-billion dollar "Vision 2030". A Lucid logo is seen at the Nasdaq MarketSite as Lucid Motors (Nasdaq: LCID) begins trading today on the Nasdaq stock exchange after completing its business combination with Churchill Capital Corp IV in New York City, New York, U.S., July 26, 2021. ![]()
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