Tesla CEO Elon Musk on Wednesday shared his perspective on rival EV makers Rivian Automotive Inc (NASDAQ:RIVN) and Lucid Group Inc (NASDAQ:LCID) after they reported quarterly earnings. What Happened: Regarding Lucid’s fourth-quarter earnings results, Musk remarked, “Their Saudi sugar daddy is the only thing keeping them alive,” in reference to the substantial investment from Saudi Arabia’s Public Investment Fund (PIF), which has injected about $5.4 billion into Lucid since 2018, with a $1.8 billion investment in the second quarter of last year alone, making the sovereign fund Lucid’s majority …
