Saudi Arabia Orders Up to 100,000 Electric Vehicles in Boost to Startup Lucid

RIYADH, Saudi Arabia—Saudi Arabia will buy between 50,000 and 100,000 electrical autos over the subsequent decade from Lucid Group Inc., which is backed by the dominion’s sovereign-wealth fund, in a lift to the automotive maker’s push to extend gross sales income.

Lucid shares rose 4.3% to $18.42 after hours Tuesday following the announcement.

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