Lucid CEO says Wall Street misinterpreted $1.75 billion capital raise

Lucid Group CEO Peter Rawlinson said the recent announcement of a $1.75 billion capital raise was misinterpreted by Wall Street. According to Rawlinson, the fundraise isn’t due to the electric vehicle maker’s lack of money, but to accelerate growth. The raised capital will be used for expanding Lucid’s Arizona factory and developing products faster. Some market watchers erroneously believed the capital raise signaled liquidity problems. However, Rawlinson assured that this isn’t the case and the