Lucid Motors has signed a memorandum of understanding with the Eastern Province Municipality in Saudi Arabia to expand electric vehicle charging infrastructure, the company said on Thursday.
The company’s largest shareholder and affiliate of Saudi Arabia’s Public Investment Fund, Ayar Third Investment Co., has a stake of about 60% in Lucid.
The agreement outlines plans to increase the availability of EV charging points across the province and contribute for a higher public awareness about electric mobility.
The initiative comes as Lucid seeks to deepen its localisation strategy in the Gulf region, where it is majority-owned by Saudi Arabia’s Public Investment Fund (PIF).
“We look forward to cooperating with municipalities in the Eastern Province and across the Kingdom to provide charging points for electric vehicle users and to enhance awareness of electric mobility,” said Faisal Sultan, Lucid’s recently promoted Vice President and President for the Middle East.
The announcement follows a string of regional partnerships by Lucid.
Last week, the company signed a cooperation agreement with the Technical and Vocational Training Corporation (TVTC), a government agency overseeing vocational education, to develop training programmes and employment pathways for Saudi nationals.
Lucid began assembling vehicles at its semi-knockdown facility in King Abdullah Economic City (KAEC) in September 2023.
Full-scale vehicle production is expected to begin by late 2026, with a planned annual capacity of up to 150,000 units. The site is intended to serve both the domestic market and select export regions, such as Europe and Asia — excluding China.
In parallel, the company has been expanding its retail presence in the Gulf, opening its first showroom in Abu Dhabi last week—its fourth in the Middle East and first in the UAE capital.
Located in The Galleria mall, the temporary store will remain open through year-end.
Lucid began accepting orders in Saudi Arabia for its Gravity SUV in January, with pricing starting at SAR 487,715 ($130,000) for the Grand Touring variant and SAR 416,645 for the Touring trim. UAE pricing starts at AED 435,855 ($118,700).
Lucid shares fell 0.9% on Wednesday and closed at $2.28 after having surged by 9% on Tuesday.
