Saudi prince takes a 5 percent stake in Lucid Motors
Prince Al Waleed bin Talal bought more than 19 million Lucid shares, lifting Saudi ownership of the EV maker as takeover talk swirls.
In Brief
- Prince Al Waleed bin Talal bought a 5% stake in Lucid Motors, over 19 million shares.
- The purchase lifts Saudi Arabia’s overall ownership of the EV maker.
- It follows reports that Lucid weighed going private or filing for bankruptcy, which it denied.
Prince Al Waleed bin Talal Al Saud, a member of the Saudi royal family, has purchased a 5% stake in Lucid Motors, increasing the Kingdom’s overall ownership of the electric-vehicle company. A new SEC filing published Tuesday shows the billionaire prince recently bought a little more than 19 million shares, according to TechCrunch. According to TechCrunch,
In a post on X, the prince wrote that his investment office made the purchase when Lucid’s market cap was below $2 billion — a strikingly low valuation for a company once pitched as a Tesla challenger.
The stake deepens Saudi exposure to a company the Kingdom has already propped up, and arrives as Lucid fights to prove it can scale production and survive a brutal EV downturn.
What the Lucid Motors stake means
The SEC Schedule 13G filing confirms a 5% holding built from more than 19 million shares. Because Saudi Arabia’s Public Investment Fund is already Lucid’s largest shareholder, the prince’s buy raises the Kingdom’s effective control of the company.
The timing is notable. On July 14, an EV blog reported Lucid was considering either bankruptcy protection or being taken private by the sovereign wealth fund. Lucid strenuously denied the report, and the prince’s purchase reads as a vote of confidence — or a creeping acquisition.
For a stock trading at a sub-$2-billion market cap, a 5% insider-style purchase by a royal is a meaningful signal that Saudi interests intend to keep the company alive.
Why Saudi Arabia is doubling down on Lucid Motors
Lucid is a centerpiece of Saudi industrial strategy: a domestic EV champion employing locals and diversifying away from oil. Letting it fail would be a political and financial embarrassment, so the Kingdom has repeatedly backstopped it.
The prince’s entry blurs the line between state and family investment, concentrating yet more of Lucid’s fate in Saudi hands. If the private-takeover reports were true, this stake is a stepping stone; if not, it is simply a cheap accumulation.
Investors should read the move as a floor, not a catalyst: Saudi money may prevent collapse, but it does not by itself solve Lucid’s demand and margin problem.
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FAQ
How big is the Saudi prince’s Lucid stake?
Prince Al Waleed bought a 5% stake — more than 19 million shares — per a new SEC filing.
Why does it matter?
It raises Saudi Arabia’s overall ownership of Lucid as the EV maker battles a weak market.
Did Lucid deny bankruptcy rumors?
Yes; Lucid denied a report that it was weighing bankruptcy or a Saudi buyout.
