Lucid says fundraising inevitable

There’s no single story dominating coverage of Saudi in the foreign press, but TheFinancial Times is out with an interview with the CEO PIF-backed EV startup Lucid Motors on the inevitability of fundraising for its business. The company cannot depend on the “bottomless wealth” of its Saudi owner and therefore needs to raise funds this year. “It’s inevitable we need to raise in the future, it’s just a question of when,” CEO Peter Rawlinson told the salmon-colored paper. “We need to pick our moment.”