U.S. electric vehicle maker Lucid Group will set up its first overseas factory in Saudi Arabia, the company has announced.
Lucid EV Cars in Saudi Arabia Investment
The Lucid manufacturing facility will be able to produce 155,000 vehicles a year, and will initially serve the local market.
Lucid EV Cars in Saudi Arabia- Capacity
Lucid’s factory in Arizona can produce 350,000 units a year. Which is further esclating company reach to manufacture.
Lucid EV Cars in Saudi Arabia- Arizona Product
That means Lucid can accelerate plans to produce half a million cars a year from what was going to be 2030, to mid decade.
Lucid EV Cars in Saudi Arabia- CEO of Lucid
The ongoing energy crisis “really just fuels the transition to battery electric vehicles,” said Rawlinson.
Lucid EV Cars in Saudi Arabia- Energy Crisis
Saudi Arabia’s minister of investment, Khalid al-Falih, said the Lucid factory is just the beginning.
Lucid EV Cars in Saudi Arabia- Just a Beginning
“I believe it unleashes the whole industry of electric vehicles here in the kingdom, our intent is not to stop with Lucid.
Lucid EV Cars in Saudi Arabia- Further Added
Saudi Arabia also wants EV battery companies, suppliers & more to set up shop in country, which could create 30,000 jobs.
Lucid EV Cars in Saudi Arabia- 30,000 Jobs
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