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.
DETROIT — A widening global shortage of semiconductors for auto parts is forcing major auto companies to halt or slow vehicle production just as they were recovering from pandemic-related factory shutdowns. Officials at Volkswagen, Ford, […]
GENEVA — If you like gawking at breathtaking sports cars with enormous engines, flowing aerodynamics and expensive carbon-fiber bodies, then you are in the right place at the Geneva International Motor Show. If you want […]
DUBAI, United Arab Emirates — U.S. Secretary of State Mike Pompeo on Sunday defended his tour of Gulf Arab states and the Trump administration’s continued efforts to squeeze Iran. Pompeo sat down with the Saudi-owned […]