Lucid Motors Opens First Electric Car Factory in Saudi Arabia
Lucid Motors' Groundbreaking Move:
Lucid Motors has inaugurated its electric car factory in the King Abdullah Economic City, Saudi Arabia. This state-of-the-art facility marks the first of its kind in the kingdom, with a targeted annual production capacity of up to 155,000 vehicles.
Advanced Manufacturing Facility:
The company's advanced manufacturing facility, AMP-2, in which the Public Investment Fund holds a 60% stake, is set to bring cutting-edge electric car manufacturing technologies to Saudi Arabia. The initial phase will involve assembling 5,000 vehicles annually, with the ultimate goal of producing 155,000 electric cars per year. This will significantly boost the company's total production capacity to approximately half a million vehicles annually.
A Milestone for Lucid Motors:
The newly opened factory is the second manufacturing facility for the Lucid Motors group and its first on an international scale. The facility will produce Lucid's electric vehicles for the Saudi market and also cater to export demands in other markets.
Future Expansion Plans:
Lucid Motors aims to transform AMP-2 into a fully-fledged manufacturing facility by the mid-decade, enabling an additional production capacity of 150,000 cars per year. This expansion will solidify Lucid's position as a major player in the global electric car industry.
Lucid Motors' establishment of the first electric car factory in Saudi Arabia marks a significant step towards sustainable transportation in the region. With an impressive production capacity and plans for future expansion, Lucid Motors is poised to contribute to the growth of the electric vehicle market both domestically and internationally.