Lucid Motors
Lucid Group, Inc., setting new standards with the longest-range, fastest-charging electric car on the market, reached an agreement with the Government of Saudi Arabia, to purchase up to 100,000 vehicles over a ten-year period, with an initial commitment to purchase 50,000 vehicles and an option to purchase up to an additional 50,000 vehicles over the same period.
"Delivering up to 100,000 Lucid electric vehicles in Saudi Arabia represents another pivotal moment in our acceleration of sustainable transportation worldwide," said Peter Rawlinson, Lucid's CEO and CTO. "We are delighted to be supporting Saudi Arabia in achieving its sustainability goals and net zero ambitions, as outlined by Saudi Vision 2030 and the Saudi Green Initiative, by bringing our advanced luxury EVs to Saudi Arabia."
The Government of Saudi Arabia pledged to purchase Lucid Air’s and other future models, built, and assembled at Lucid's existing Arizona factory and its future international manufacturing facility in Saudi Arabia. The order quantity is expected to range from 1,000 to 2,000 vehicles annually and increase to between 4,000 and 7,000 vehicles annually starting in 2025, with the delivery of the vehicles required to commence no later than the second quarter of 2023.
This will support the government's drive to diversify the economy, provide thousands of highly skilled job opportunities and provide economic benefit to the Kingdom in line with Vision 2030.