AD #3865 - Lucid Gets Billion Dollar Saudi Investment; EVs and ICEs Could Hit Breakeven Point in 2025; Dongfeng Close to Deal for Italian Pl
About this episode
Lucid secured a $1.5 billion investment from the Saudi Public Investment Fund despite a $800 million Q2 loss, supporting its upcoming Gravity SUV launch and plans for more affordable models by 2026. Continental plans to spin off its automotive division to focus on software-driven tech. Nissan faces challenges in the US with declining sales and is testing innovative cooling paint to reduce EV energy use. Goldman Sachs forecasts EVs will reach cost parity with ICE vehicles by 2025 due to falling battery prices. Chinese automaker Dongfeng nears a deal to build cars in Italy, while Huawei and Baic unveiled a luxury EV sedan. Robotics company Ubtech is expanding humanoid robots' roles in automotive manufacturing.
Lucid Gravity
"...it Lucid will use the infusion to help launch the Gravity Suv by the end of this year, and it also gives it..."
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