Lucid (NASDAQ:LCID) stock price rose during Friday trading to $4.230 per share, up 24% at 21:46 Saudi time.
The rise comes after CTO Peter Rawlinson told Bloomberg that the relationship with PIF was going very well.
He said the PIF is the best long-term partner for the company as it tries to increase its production, and the partnership with Ashton Martin remains strong as well.
The stock is up 43% this month after multiple gains in the electric vehicle market.
The company is scheduled to announce earnings on July 31. Historical data on InvestinPro shows that the stock has reacted to previous earnings reports mixed as the company has failed to meet market expectations:
