Lucid Motors is set to go public with a $24 billion valuation. It probably couldn’t have happened without billions in Saudi money

• Electric vehicle startup Lucid Motors plans to go public via SPAC at a $24 billion valuation. 
• The company struggled for years before getting $1.3 billion from Saudi Arabia in 2019. 
• The deal increases Saudi Arabia’s ownership stage from 67% to 85%.

Somewhere out there, there’s a graveyard of Tesla rivals – metal skeletons of electric cars that tried and failed to challenge Elon Musk.