Is Lucid Crafting An Exclusive Security Vehicle For Saudi Police? What Online Leaks Reveal
Portfolio Pulse from Benzinga Neuro
Lucid Group Inc (NASDAQ:LCID) is rumored to be launching a dedicated security vehicle for the Saudi Arabian police force, according to online sources. This move could strengthen Lucid's ties with Saudi Arabia, where its majority shareholder, the Public Investment Fund, is based. The vehicle is expected to be unveiled at the World Defense Show in Riyadh. This development follows Lucid's establishment of a new manufacturing unit in Saudi Arabia and a deal to sell up to 100,000 EVs to the Saudi government over the next decade.
February 02, 2024 | 10:18 am
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Lucid Group Inc is rumored to be launching a security vehicle for the Saudi police, which could enhance its relationship with Saudi Arabia and potentially increase its business prospects in the region.
The introduction of a dedicated security vehicle for the Saudi police by Lucid could significantly strengthen its strategic ties with the Saudi government and the Public Investment Fund, potentially leading to increased sales and business opportunities in the region. Given the existing relationship and previous deals with the Saudi government, this move is likely to be viewed positively by investors, potentially leading to a short-term positive impact on LCID's stock price.
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