Some of the most popular electric car manufacturers in recent years are Tesla and Lucid.
They are both gaining a sizeable share of the EV industry as more consumers than ever hunt for more
Many people have compared Tesla with Lucid even though the latter has said it doesn't intend to compete with Tesla.
Both businesses started out as startups with a focus on building luxurious electric automobiles
Tesla, however, has an advantage in terms of brand recognition.
Elon Musk has succeeded in creating a business with a solid network and marketing Tesla vehicles
By collecting large investment dollars from Saudi Arabia, Lucid is swiftly catching up.
The money will allow the business to revive its ambitions for a facility in the US.
They declared their intention to construct a plant in the state of Arizona in 2017.
It never materialised nevertheless since the business at the time was unable to get the necessary finances.
The new Saudi funding is a game-changer for Lucid, and in addition to launching a limited production run
New prototypes are being developed at Lucid Motors' headquarters in Silicon Valley
according to a recent announcement, and a production run is anticipated to begin in 2021.
Although Lucid has stated that they would eventually produce less expensive variants of its electric vehicles