Largest US government pension fund doubles its stake in E-car ‎manufacturers, including Lucid ‎

The largest government pension fund in the United States, the California Public Employees Retirement System (CALPERS), has doubled its stake in electric car makers.

Among the shares bought by the US Pension Fund, Rivian Motors, Lucid Motors, Nikola Corporation. Lucid Motors and Rivian whose shares rose about 2% on the back of this news, according to Investor Place. While the Nikola company achieved much greater gains, by about 8%, in yesterday’s session

California is among the most advanced states in the field of electric vehicles, and it continues to show its love for the sector. The performance of the California State Teachers’ Retirement System Pension Fund in adding shares of Rivian, Nikola and Lucid is noteworthy. Each of these companies is still well below their all-time highs, and each is now growing its sales and becoming a company with real revenue and profitability potential.