Written by Cláudio Afonso | LinkedIn | X
Lucid Motors, the electric vehicle (EV) startup backed by Saudi Arabia’s Public Investment Fund (PIF), has established its Middle East headquarters in Riyadh, the company announced on Wednesday.
The new office is located in the King Abdullah Financial District (KAFD) while the company’s global headquarters are in Newark, California and its European base is in Amsterdam, Netherlands.
Lucid announced its new location on LinkedIn, sharing a video of its new office in Riyadh’s skyline.
In June, Lucid‘s vice president for the Middle East region Faisal Sultan said the upcoming SUV Gravity will “eventually” arrive in the UAE and Saudi Arabia markets next year.
Earlier this month, the company delivered its first vehicles in the United Arab Emirates (UAE), its sixth market globally. There, the Lucid Air sedan starts at AED 309,750 ($84,300) including an AED 3,670 ($1,000) Charging Allowance and two years of complimentary Lucid Care scheduled maintenance, according to the EV maker’s website.
Despite having only one showroom in the UAE, Lucid’s vice-president and managing director of the Middle East region Faisal Sultan said that the company “had many reservations.” Lucid’s expansion plans include a massive service center in Dubai and upcoming sales and service facilities in Abu Dhabi.
In the second quarter of 2024, revenue from Middle East sales accounted for 20.2% of the EV maker’s total revenue. By the third quarter, that percentage had risen to 24.85%.
As reported earlier this Tuesday, Lucid’s Grand Touring variant of the Gravity SUV has received an official EPA-estimated range of 450 miles. Lucid started production of the SUV last week at its plant in Casa Grande, Arizona.
Written by Cláudio Afonso | LinkedIn | X
