EV maker Lucid surges on report Saudi PIF to buy remaining stake

EV maker Lucid surges on report Saudi PIF to buy remaining stake

FILE PHOTO: The logo of an electric car is painted on the road during the opening ceremony of the first Latin American public charging station, at Santiago, April 20, 2011. REUTERS/Ivan Alvarado

Lucid Group’s shares surged 43% on Friday, paring gains after doubling on market speculation that Saudi Arabia’s Public Investment Fund (PIF) wanted to buy out the electric vehicle maker.

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