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Saudi Arabia's new EV brand takes on a rival it controls

Original: Awkward: Saudi Arabia’s new EV brand takes on the U.S. rival it already controls

Saudi Arabia has launched a new electric vehicle brand that will compete directly with an American EV maker the kingdom already holds a major stake in, prompting commentary about the awkwardness of the arrangement. Observers are weighing how the Gulf state's diversification push into autos will balance its existing U.S. investment against building its own domestic EV industry.

Why now: The overlap between the kingdom's sovereign investment in a rival EV maker and its new homegrown brand creates an unusual competitive conflict that is drawing attention.

Saudi ArabiaCeerLucid MotorsPublic Investment Fund

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• Awkward: Saudi Arabia’s new EV brand takes on the U.S. rival it already controls · Rest of World

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