Written by Cláudio Afonso | LinkedIn | X
Saudi-backed U.S. EV maker Lucid Motors said on Wednesday it has signed a memorandum of understanding (MoU) with the charging startup EVIQ to expand the partnership announced last year.
Saudi’s Public Investment Fund (PIF) has a stake of about 60% in Lucid and has founded EVIQ as a joint-venture company with the Saudi Electricity Company (SEC).
The company claims that will build 1,000 charging points equipped with a total of 5,000 EV chargers across the Kingdom by 2030. Currently, EVIQ has 56 charges spread across the three cities of Riyadh, Jeddah, and Dammam.
“We’re proud to announce our MoU with EVIQ, a strategic partnership aimed at advancing EV infrastructure in Saudi Arabia,” Lucid wrote on LinkedIn. “Together, we’re accelerating the transition to electric mobility by expanding a network of fast-charging hubs across the Kingdom, making EV adoption more seamless than ever.”
In May 2024, the EV maker said it signed a strategic agreement with the company to collaborate in developing public high-speed charging capabilities in the Kingdom.
Lucid Gravity in Saudi Arabia
In late January, Lucid began taking orders for the Grand Touring variant of its Gravity SUV in Saudi Arabia, with prices starting at SAR 487,715 ($130,035).
After beginning to accept orders in the U.S. and Canada, the company added a third market, with orders in the UAE expected to open in the coming weeks.
The Grand Touring is available to order immediately in Saudi Arabia, while the lower-priced Touring variant will be “available to order soon,” the California-based company said.
EV Production in Saudi Arabia
Lucid’s VP and Managing Director for the Middle East, Faisal Sultan, said last month the company is “on track to produce over 10,000 vehicles annually” in Saudi Arabia. He added that production schedules would be adjusted based on overseas demand.
A few days before the end of 2024, the EV maker began delivering its second model, the Gravity SUV, to employees, friends, and families.
Customer deliveries in the U.S. are planned to start over the next few weeks while European deliveries are planned to start in early 2026.
