Dubai, United Arab Emirates — Saudi Arabia’s sovereign wealth fund invested more than $1 billion Monday in an American electric car manufacturer. The electric-car investment is a bold move for Saudi Arabia, an ultraconservative kingdom that for decades has relied on its oil wealth as the world’s top crude exporter. The Saudi Public Investment Fund said it would invest the over $1 billion in California-based Lucid Motors, an 11-year-old private company that has yet to bring a vehicle to market.
WASHINGTON, D.C. – Automaker trade groups told regulators they should revise fuel efficiency mandates approved in the final weeks of the Obama administration because the costs would be onerous and the standards do not reflect […]
LONDON — Aston Martin’s owners have hired Lazard to prepare for a stock market listing or sale of the British sportscar maker made famous by fictional spy James Bond, sources familiar with the matter told […]
RIYADH – Women in Saudi Arabia hit the roads this week, ushering in the end of the world’s last ban on female drivers, long seen as an symbol of women’s repression in the deeply conservative Muslim kingdom. “It’s […]