Awkward: Saudi Arabia’s new EV brand takes on the U.S. rival it already controls

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Awkward: Saudi Arabia’s new EV brand takes on the U.S. rival it already controls

AI Summary

Saudi Arabia’s sovereign wealth fund has launched a new electric-vehicle brand that will compete with Chinese automakers and Lucid, a U.S. carmaker the fund already controls. The report frames the overlap as a potential competitive complication for the fund’s automotive investments.

The Saudi wealth fund’s new EV will compete with Chinese rivals and with Lucid, the U.S. carmaker the fund controls.

Markets Deals Energy Saudi Arabia electric vehicles sovereign wealth fund Lucid automotive competition Chinese automakers

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