Welcome back to EV News Daily coming up today. Tesla increases supercharger speeds. The UK's

EV's surge in popularity and 50 million battery swaps. Plus stay tuned because later in the show,

I'll tell you the reasons Ford's CEO, Jim Farley, thinks you should go EV. Well, good morning,

good afternoon or good evening. Wherever you are in the world, welcome to EV News Daily.

Your trusted source of EV information for

Wednesday 7th of August, I'm Martin Lee, and it's my job to go through every EV story, so you don't

have to. Well, we'll start with news of a Saudi boost for Lucid. Lucid Group is on a role right now,

having reported second quarter revenue that exceeded analysts' expectations. Can it sustain the

momentum as it prepares to launch

their highly anticipated gravity SUV? Well, the company's largest shareholder, Saudi Arabia's

public investment fund has agreed to inject up to $1.5 billion US dollars in cash, providing

a significant boost to the finances. This investment will help the EV maker

add new models to the product lineup and stay afloat until at least the end of 2025. In the second

quarter, Lucid's revenue was $200.6 million US dollars, driven by higher sales of their luxury

electric sedans and more affordable prices as well. This quarter we saw

the Lucid Air reduced in price. The company delivered 2,394 vehicles in the second quarter of the

year. Total production for the first half of the year, 3,838. Lucid remains committed to their target of 9,000 vehicles by the end of

the year. Well, the new sent Lucid's shares soaring 12%. Despite closing recently down, investors like

the news that there was getting a big lower water cash. Let's call it that from the Saudi Public Investment Fund

with a fresh injection of funds. Loosed in as well positioned to take on the EV market with their

gravity SUV. Now, what is all this news people keep talking about with Tesla making their

superchargers faster? Are they on the verge of revolutionising the EV charging speeds once again?

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