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With the recently announced SPAC deal to take LUCID public the Saudis are increasing their ownership to about 80%.
No, I don't find anything suspicious about the Saudi's investing in EVs. They have been very clear in public statements about the need for Saudi Arabia to diversify their investments and plan for a decline in oil consumption.
The Saudi Sovereign Wealth Fund is invested in a wide variety of industries / companies - everything from Boeing to Disney.
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