Lucid Group pioneers Saudi Arabia's first EV factory
TL;DR
Lucid has opened the first electric vehicle factory in Saudi Arabia, a result of its strategic partnership with the Kingdom. The factory is expected to produce 5,000 units annually initially, with plans to eventually build 155,000 cars per year. Saudi Arabia has already committed to adding 100,000 Lucid EVs to its government fleet, and the factory could bring Lucid an increase in value of approximately $3.4 billion over the next 15 years.
Topics:businessautomotive#automotive#electric-vehicles#ev-factory#lucid#saudi-arabia#strategic-partnership
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