Lucid Motors is helping oil-rich Saudi Arabia go electric in its ambitious plan to become a carmaking powerhouse

• Tesla rival Lucid Motors is helping Saudi Arabia to go electric in its carmaking push, per the FT.
• The oil-rich kingdom plans to invest billions into becoming a hub for EV manufacturers such as Lucid.
• The move is part of Saudi Arabia's plan to become less reliant on oil income, its main revenue source.

Saudi Arabia is tapping Tesla rival Lucid Motors to help it become a hub for making electric cars, part of the energy-rich kingdom's ambitious plan to be less reliant on its oil income.