Tech’s transportation companies keep bending the knee to Saudi Arabia But Lucid Motors has remained partnered with Saudi Arabia ever since, despite the deal not officially being approved by the US government’s Committee on Foreign Investment in the United States until April 2019. Many scheduled attendees of that year’s Future Investment Initiative conference (known as “Davos in the Desert”) backed out. Khashoggi’s death caused some companies like Richard Branson’s Virgin Galactic and Virgin Orbit to walk away from taking the Kingdom’s money or take a second look at the country’s long history of human rights abuses. Saudi Arabia first announced the deal back in September 2018 - just weeks before Saudi Crown Prince Mohammed bin Salman had Washington Post journalist Jamal Khashoggi killed. That said, it remains unclear exactly what kind of voting rights the various shareholders of the company have. Lucid Motors disagrees on the severance side of things, but the company said in response to the email from Coates’ lawyer that it “does not dispute that the financing transaction that closed on or about Apwould appear to constitute a Change of Control.” Wired Middle East previously reported the PIF had taken a 67 percent stake, but the email included in the lawsuit is the first time an acknowledgment from the company has been made public. The company’s former finance head is suing over his severance
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