Written by Cláudio Afonso | LinkedIn | X
Lucid Motors is set to transform its first factory outside the United States into a global export hub. Opened in September 2023, the Saudi Arabian plant initially had the capacity to assemble 5,000 electric vehicles annually.
However, the ongoing expansion will upgrade the facility from an SKD (Semi Knocked Down) assembly line to a CBU (Completely Built Unit) operation, enabling Lucid to manufacture fully assembled vehicles on-site for global markets.
Additionally, the company will soon be opening its first service center in the Dubai Investment Park, as well as another showroom — known as Lucid Studio — in Abu Dhabi.
Speaking at the EV Auto Show in Riyadh, Ali Rizvi, Lucid’s director of Business Operations for the Middle East region, said that a “large part” of the vehicles produced at the Saudi plant will be exported regionally but also globally.
“We are producing vehicles in the Kingdom, (and) a large part of those will be exported within the region and to the rest of the world as well,” Rizvi stated — as initially reported by Arab News.
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Saudi’s Public Investment Fund (PIF) has recently increased its ownership in the EV manufacturer to more than 65 per cent following another $1.5 billion in cash. In March, PIF had already injected $1 billion into Lucid.
In the second quarter of 2023, only 4 per cent of Lucid’s revenue came from the Middle East, but that figure has now surged fivefold to 20.3 per cent this year, according to the latest 10Q form filed with the Securities and Exchange Commission.
Last month, Lucid’s Chief Operating Officer, Marc Winterhoff, revealed that “a significant amount” of the 2026 mid-sized model will take place in Saudi Arabia.
If for the first quarter of the year, Lucid CEO Peter Rawlinson said vehicle deliveries in Saudi Arabia surpassed 500 units. However, for the second quarter, the figures were not disclosed during the recent earnings conference call held on August 5.
In the second quarter of the year, the company delivered 2,394 vehicles while producing 2,110 units. For the full year, Lucid expects to produce 9,000 vehicles.
Written by Cláudio Afonso | LinkedIn | X
