An affiliate of the Saudi Arabian Public Investment Fund will invest $1 billion in the struggling EV maker. (I need to find a new adjective other than “struggling” to describe these companies. Leave your suggestions in the comments please!) This is hardly a surprise, given that the Saudi government owns a 60 percent stake in Lucid. Like other, ahem, distressed EV companies, Lucid has slashed prices and laid off employees in the face of weaker demand. But it could be a lot worse! At least Lucid isn’t tottering on the edge of bankruptcy like Fisker and others.