2023-12-28 23:37:01
Lucid Company, in which the Saudi Investment Fund owns a majority stake, announced the offering of an economic car at a low price, while the company’s shares continue to decline continuously, as it closed yesterday, Thursday, December 29, at a price of $4.26 per share.
The company, which specializes in luxury electric cars, announced an economical car priced at 50,000 US dollars and is expected to be produced in 2025 AD, aiming to compete with Tesla cars.
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Company President Peter Rawlinson says: “We seek to produce vehicles at reduced prices that compete with Tesla vehicles – the Model 3 and Model Y.”
Lucid faced major challenges, its stock collapsed to very low levels, and it faced weak sales.
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