Lucid Air & The Template of Doom / Why is Saudi Arabia investing in EVs ?

[Cd]

I'm putting this in the lounge, because it will probably become a political discussion.
First off though, I thought it would be interesting to see the Lucid Air forwards and backwards on the template.

It almost looks as if it would have a better cD going backwards !




Next though, I wanted to ask if anyone else finds it suspicious that Saudi Arabia is investing in EVs.
https://www.theverge.com/2020/6/25/2...ty-shareholder
I just have a bad feeling about anything like this.

With a guaranteed short life of the batteries, is there more money to be made in EVs over oil production ?

Human nature is to find something good and beneficial to humanity, and then ruin it for profit.

[freebeard]

Maybe they don't believe their own published figures on oil reserves?

They're awash in money and the Bedouins are headed to Mars. https://en.wikipedia.org/wiki/Emirates_Mars_Mission

[cRiPpLe_rOoStEr]

Arabs figured out it's not safe to keep all the eggs in the same basket.

[JSH]

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.

[Piotrsko]

Originally Posted by cRiPpLe_rOoStEr

Arabs figured out it's not safe to keep all the eggs in the same basket.

Yup there's hurting going on over there because of the low oil prices

[cRiPpLe_rOoStEr]

Originally Posted by Piotrsko

Yup there's hurting going on over there because of the low oil prices

Relying too much on something as volatile as oil prices is too risky. No wonder even Western companies we often see simply as Big Oil are now trading within the "energy company" label which is quite broader.