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Too Big to Fail, Too Small to Compete Lucid Given Life-line by PIF

8th August, 2024

Electric vehicle manufacturer Lucid has received another lifeline from Saudi Arabia’s Public Investment Fund (PIF) the bolster the launch of the Gravity SUV model and support the company’s Saudi plant.

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Gulf SWFs Build their EV Empires

2nd April, 2024

The Gulf region’s sovereign wealth funds have pursued very different strategies towards the rise of electric vehicles.

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Going Electric: Gulf SWFs Boost Capital in Luxury Carmakers

26th March, 2024

Saudi Arabia’s Public Investment Fund (PIF) and Bahrain’s Mumtalakat have stumped up more money in their automotive interests in return for equity as they support plans for growth in a challenging market.

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Abu Dhabi Joins EV Race with US$3bn Chinese Investment

27th December, 2023

Abu Dhabi sovereign wealth ADQ is backing a US$3 billion investment of the Emirate’s Department of Finance into Chinese electric vehicle producer NIO, which is among the world’s top five EV producers.

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PIF Drives Local Automotive Value Chain with New Ventures with Global Partners

26th October, 2023

Saudi Arabia’s sovereign wealth fund is driving forward its plans to develop a fully integrated automotive industry in the Kingdom with this week seeing it sign deals with Hyundai and Pirelli for new manufacturing plants, while it is investing in the infrastructure to support its EV adoption ambitions.

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Mumtalakat Extends Control of Carmaker McLaren as PIF Sells

22nd June, 2023

Bahrain’s sovereign wealth fund Mumtalakat has consolidated its hold on British carmaker McLaren by buying stakes from Saudi Arabia’s Public Investment Fund (PIF) and Ares Management for GBP400 million (US$510 million).

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Northvolt is Lightning Rod for Battery Investment by Public Pension Funds

20th June, 2023

The Investment Management Corporation of Ontario (IMCO) announced today that it is piling US$400 million into Sweden-based Northvolt, joining a raft of other public pension funds including provincial stablemate OMERS that have invested in the battery manufacturing giant.

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PIF's Plans to Take Lucid Private Are Part of a Bigger EV Strategy By Saudi SWF

30th January, 2023

Rumors that Saudi Arabia's Public Investment Fund (PIF) is set to take electric vehicle maker Lucid private by buying a 34.5% stake from public markets have fuelled a massive rise in its stock price, following months of steep decline.

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Lucid Clouds PIF's 2022 Performance, But There Is A Silver Lining

29th December, 2022

The final quarter of 2022 was hugely disappointing for PIF’s US public equity holdings with the diving value of Lucid Motor’s stock wiping US$7.4 billion off the value of the stockholding, representing 1.2% of the Saudi sovereign fund’s AUM.

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Denmark Gives a Boost to Indonesia’s Green Ambitions

9th December, 2022

The Indonesia Investment Authority’s (INA) push for a green energy transition has won the backing of the Danish government’s Investment Fund for Developing Countries (IFU) with the signing of an Investment Framework Agreement (IFA) for up to US$500 million in co-investments in renewable energy, water, waste management, and other circular opportunities.

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PIF: Lucid Undermines Index-Beating Performance in US Equities

25th November, 2022

Saudi Arabia’s Public Investment Fund saw US$6.6 billion wiped off the value of its US public equity portfolio in Q3, around three quarters of which was caused by the 18.6% decline in the value of its stake in Lucid which was worth US$14.2 billion at end-September.

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Indonesia’s SWF Teams Up With Chinese Investors to Push EV Development

14th November, 2022

The Indonesia Investment Authority (INA) has teamed up with Chinese investors to boost the country’s EV value chain as Southeast Asia’s most populous country presses ahead with a green automotive revolution.

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