Lucid Group Prepares to Enter Chinese Auto Market

Lucid Group, a US luxury electric vehicle (EV) maker, is getting ready to enter the Chinese auto market. The company's head of China operations, Zhu Jiang, stated that they will begin by selling imported cars in China, with potential plans for local production in the future. The move comes after Lucid announced its intention to raise approximately $3 billion through a stock offering, with a significant portion of the funds coming from Saudi Arabia's Public Investment Fund (PIF). Zhu believes that this funding will accelerate Lucid's ability to bring advanced EV technology and products to global markets.