According to the press statement, you can find down below, Lucid Motors has met with the Ministry of Investment of Saudi Arabia and other key players in the industry. The plan is to build a factory that’s capable of producing high-end EVs for international customers.
The CEO and CTO of the company said this move feels natural to him, as Lucid is a “catalyst for change” and it wants to adjust perspectives on EV transportation. Moreover, he points out Saudi Arabia is one of the world’s biggest producers of oil – a country that might like the shift from fossil fuels to EVs.
The decision to open the first plant in Saudi Arabia comes as the country announced it wants to diversify its economic footprint, and it will help entities gain a presence.
With this announcement, the carmaker has also confirmed an SUV is in the making. Project Gravity will soon have a commercial name, if it all goes to plan. Saudi Arabia might prove to be the best testbed for this, as Lucid is looking to gather as much information as possible before releasing a product that can make or break the company.
Interestingly enough, Lucid says it will work around the clock to bring its cars to the Arabian Peninsula. For this to work, it’s planning on delivering pre-manufactured kits from the U.S., which will be assembled and given a final touch in the King Abdullah Economic City (KAEC). The entire plant will follow after this first step has been made.
The Arizona-based automaker hopes this new initiative will bring at least $3.4 billion “of value over 15 years.”
Lucid was founded in 2007 under the name Atieva and originally focused on building electric vehicle batteries and powertrains for other vehicle manufacturers. The company rebranded to Lucid Motors in October 2016 and officially announced its intent to develop an all-electric, high-performance luxury vehicle. Now Lucid has a small portfolio comprised of just one car: the Air. But they're not stopping here. The American EV manufacturer has plans on conquering the same niche Mercedes-Benz and BMW want to impress. That's not Lucid's only targets, as some reviewers have called the Air a "Tesla nightmare."
Given today's global climate, it's interesting to follow Lucid's journey.