Lucid has a deal to sell up to 100,000 electric vehicles

By Jeff Gifford | Phoenix Business

Luxury electric vehicle maker Lucid Group Inc. has struck a deal with Saudi Arabia for the purchase of up to 100,000 vehicles over 10 years.

Under the deal, the Saudi government committed to buy 50,000 vehicles with an option to buy 50,000 more during the same period from the Newark, California-based company. The first deliveries are required to begin no later than the second quarter of 2023.

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