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<blockquote data-quote="Weather Man" data-source="post: 16590309" data-attributes="member: 137766"><p><a href="https://seekingalpha.com/news/3671139-lucid-motors-said-to-have-plant-commitment-in-saudi-arabia" target="_blank">Lucid Motors said to have plant commitment in Saudi Arabia</a></p><ul> <li data-xf-list-type="ul">Electric vehicle startup Lucid Motors (<a href="https://seekingalpha.com/symbol/LUCIDM" target="_blank">LUCIDM</a>) has an undisclosed commitment to build an assembly plant in Saudi Arabia, according to <em>The Wall Street Journal</em>.</li> <li data-xf-list-type="ul">The report indicates that the "potentially costly promise" was made as part of the company accepting more than $1B in financing from the Saudi Public Investment Fund in 2018.</li> <li data-xf-list-type="ul">Lucid hasn't discussed the Saudi car plant plans publicly, but at least one institutional investor was informed</li> <li data-xf-list-type="ul">A Lucid Motors spokesperson said it "expects to establish manufacturing facilities in multiple geographies, including Asia-Pacific, the Middle East and potentially Europe in the coming years."</li> <li data-xf-list-type="ul">Lucid SPAC acquirer Churchill Capital IV (NYSE:<a href="https://seekingalpha.com/symbol/CCIV" target="_blank">CCIV</a>) is down 0.25% premarket after a double-digit gain yesterday amid a <a href="https://seekingalpha.com/news/3670829-tesla-leads-big-day-of-recovery-for-electric-vehicle-stocks" target="_blank">strong EV rally</a>.</li> </ul><p></p><p></p><p><a href="https://seekingalpha.com/news/3671160-fisker-called-catalyst-rich-in-bullish-citi-take" target="_blank">Fisker called catalyst-rich in bullish Citi take</a></p><ul> <li data-xf-list-type="ul">Citi says it has gained confidence in the long-term thesis around Fisker (NYSE:<a href="https://seekingalpha.com/symbol/FSR" target="_blank">FSR</a>) as it continues to see a number of product, brand and business development catalysts set up for the year.</li> <li data-xf-list-type="ul">"What's encouraging is that recent events/milestones have been accompanied by an acceleration in retail reservations, including through the first week in March. Seeing that there are a number of major milestones slated for 2021 (production Ocean unveil, launch configurator, App refresh), the recent reservation momentum gives us added confidence."</li> <li data-xf-list-type="ul">The firm also notes that Fisker's efforts to secure fleet orders appear to be progressing as well.</li> <li data-xf-list-type="ul">Citi keeps a Buy rating on Fisker and bumps up the price target to $31 from $26. The new PT works out to 2.1X the 2024 revenue estimate off 100K units,</li> <li data-xf-list-type="ul">Shares of Fisker are up 3.97% premarket to $23.06.</li> <li data-xf-list-type="ul">The EV sector is looking for a <a href="https://seekingalpha.com/news/3670829-tesla-leads-big-day-of-recovery-for-electric-vehicle-stocks" target="_blank">second straight day of gains</a>.</li> </ul></blockquote><p></p>
[QUOTE="Weather Man, post: 16590309, member: 137766"] [URL='https://seekingalpha.com/news/3671139-lucid-motors-said-to-have-plant-commitment-in-saudi-arabia']Lucid Motors said to have plant commitment in Saudi Arabia[/URL] [LIST] [*]Electric vehicle startup Lucid Motors ([URL='https://seekingalpha.com/symbol/LUCIDM']LUCIDM[/URL]) has an undisclosed commitment to build an assembly plant in Saudi Arabia, according to [i]The Wall Street Journal[/i]. [*]The report indicates that the "potentially costly promise" was made as part of the company accepting more than $1B in financing from the Saudi Public Investment Fund in 2018. [*]Lucid hasn't discussed the Saudi car plant plans publicly, but at least one institutional investor was informed [*]A Lucid Motors spokesperson said it "expects to establish manufacturing facilities in multiple geographies, including Asia-Pacific, the Middle East and potentially Europe in the coming years." [*]Lucid SPAC acquirer Churchill Capital IV (NYSE:[URL='https://seekingalpha.com/symbol/CCIV']CCIV[/URL]) is down 0.25% premarket after a double-digit gain yesterday amid a [URL='https://seekingalpha.com/news/3670829-tesla-leads-big-day-of-recovery-for-electric-vehicle-stocks']strong EV rally[/URL]. [/LIST] [URL='https://seekingalpha.com/news/3671160-fisker-called-catalyst-rich-in-bullish-citi-take']Fisker called catalyst-rich in bullish Citi take[/URL] [LIST] [*]Citi says it has gained confidence in the long-term thesis around Fisker (NYSE:[URL='https://seekingalpha.com/symbol/FSR']FSR[/URL]) as it continues to see a number of product, brand and business development catalysts set up for the year. [*]"What's encouraging is that recent events/milestones have been accompanied by an acceleration in retail reservations, including through the first week in March. Seeing that there are a number of major milestones slated for 2021 (production Ocean unveil, launch configurator, App refresh), the recent reservation momentum gives us added confidence." [*]The firm also notes that Fisker's efforts to secure fleet orders appear to be progressing as well. [*]Citi keeps a Buy rating on Fisker and bumps up the price target to $31 from $26. The new PT works out to 2.1X the 2024 revenue estimate off 100K units, [*]Shares of Fisker are up 3.97% premarket to $23.06. [*]The EV sector is looking for a [URL='https://seekingalpha.com/news/3670829-tesla-leads-big-day-of-recovery-for-electric-vehicle-stocks']second straight day of gains[/URL]. [/LIST] [/QUOTE]
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