Lucid Motors is considering expanding to Morocco after consolidating its position in core Gulf markets, the company’s Middle East head said in a new interview.
Faisal Sultan, the brand’s president for the Middle East, said Saudi Arabia is the company’s largest market in the region.
“In the region, Saudi [Arabia] is our biggest market of course,” Sultan said in an interview amid the Giga Africa 2025 event in Morocco.
According to the Middle East chief, the Kingdom accounts for about 60% to 62% of total EV demand in the Gulf region.
“In the GCC they are 60, 62% of the total market and I think right now they’re leading the electric vehicle progress,” the executive told Benchmark’s Automotive Research.
The Saudi-owned EV maker does not disclose sales figures by market or region, providing only global totals.
Deliveries in the Kingdom started in June 2023 with Lucid‘s debut model, the sedan Lucid Air.
Sultan added that the company expects Saudi Arabia to continue representing around 60% of its Middle East sales, followed by 20% from the United Arab Emirates and the remainder from smaller markets.
The executive, who joined Lucid in 2019 as head of global operations, mentioned Morocco as an ‘eventual’ upcoming market for the first time.
“Eventually we will start expanding into other areas like Morocco,” Sultan said. “We’ll consider these markets later on once we have our stronghold in core regions.”
In a July interview, Sultan said Lucid plans to enter “one or two” new Gulf Cooperation Council countries each year, without naming which ones.
The GCC bloc includes Saudi Arabia, the UAE, Bahrain, Kuwait, Oman, and Qatar.
As reported earlier this Thursday, Sultan confirmed that Lucid plans to adopt an agency sales model in its upcoming markets.
The new business model, also being planned in Lucid’s upcoming European markets, enables faster expansion with significantly lower fixed costs compared with the direct-to-consumer approach.
Sultan’s remarks come as Lucid recorded a sharp quarter-on-quarter increase in Middle East revenue in the April-June period.
The EV maker reported $259.4 million in total revenue for the second quarter, up from $235 million in the first quarter and $200.6 million a year earlier. Global deliveries rose to 3,309 vehicles, compared with 3,109 in the previous quarter.
Revenue from the Middle East climbed to $36.6 million, a nearly five-fold increase from $7.8 million in the first quarter.
Of that, $35.9 million came from Saudi Arabia and $0.7 million from the UAE, where Lucid began deliveries late last year.
The figures suggest Lucid delivered fewer than 100 vehicles in Saudi Arabia during the quarter, with additional units reaching the UAE.
North America remained the company’s main market, generating $218.4 million in revenue, including $212.7 million from the United States.
Third quarter revenue breakdown is expected to be released with the SEC in the first half of November.
The EV maker’s largest shareholder is Saudi Arabia’s Public Investment Fund (PIF), which holds a 58% stake.
