Electric car maker Lucid Group has increased a credit line from its largest investor, the Saudi PIF Fund, by $1.75 billion, Reuters reported. The funds raised the company's liquidation to $3.75 billion. This amount will be enough to finance operations until the fourth quarter of 2027, with production of a new mid-size model planned for the second half of that year.

Electric car maker Lucid Group has increased a credit line from its largest investor, the Saudi PIF Fund, by $1.75 billion, Reuters reported. The funds raised the company's liquidation to $3.75 billion. This amount will be enough to finance operations until the fourth quarter of 2027, with production of a new mid-size model planned for the second half of that year.