Can"Tesla Killer" Lucid Stand out in EV Market Competition?
Electric vehicle makerLucid Groupsaid Monday that it has completed a planned $1.5 billion equity offering. The company first announced the offering in November, when it reported itsthird-quarter results.
Lucid raised the majority of that cash, about $915 million, via a private sale of nearly 86 million shares to an affiliate of its largest investor, Saudi Arabia’s Public Investment Fund. The remaining $600 million was raised via a traditional secondary stock offering, in which Lucid sold an additional 56 million shares.
Lucid raised the majority of that cash, about $915 million, via a private sale of nearly 86 million shares to an affiliate of its largest investor, Saudi Arabia’s Public Investment Fund. The remaining $600 million was raised via a traditional secondary stock offering, in which Lucid sold an additional 56 million shares.
Lucid has always been known as "Tesla Killer", and almost always follows Tesla regardless of its model or positioning.
However, last week, Tesla CEO Mask also joked on Twitter that "Lucid is not far away from bankruptcy."
However, last week, Tesla CEO Mask also joked on Twitter that "Lucid is not far away from bankruptcy."
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