California-based EV maker Lucid opens first-ever auto plant in Saudi Arabia
Californian EV-maker Lucid has opened the first ever car manufacturing plant in Saudi Arabia, as the kingdom looks to establish itself as a global player in the EV race.
Lucid officially opened the plant in King Abdullah Economic City, near Jeddah, on Wednesday. The factory — the company’s first international plant — will initially focus on re-assembling vehicle kits sent over from the United States.
“With the support of the Saudi government, we are proud to drive local development in the technology industry,” Lucid CEO Peter Rawlinson said in a statement. “We look forward to delivering Saudi-assembled cars to customers in Saudi Arabia and beyond.” Saudi Arabia’s powerful Public Investment Fund (PIF), controlled by the Saudi government, is Lucid’s largest shareholder.
The Saudi government also has an agreement with Lucid to purchase up to 100,000 vehicles from the company over a 10-year period.
Published September 27, 2023 7:15PM
