Lucid Motors plans to enter several new countries this year.
The company, backed by Saudi Arabia’s Public Investment Fund, will continue expanding in Europe and the Middle East, interim chief executive Marc Winterhoff said during the Saudi-US Investment Forum in Riyadh.
“We have started Abu Dhabi and we’re looking into Qatar and other additional markets coming very soon,” Winterhoff told Bloomberg.
At the company’s fourth-quarter earnings call in February, Winterhoff had said Lucid was “accelerating the growth of our retail footprint and market coverage” in Europe.
He confirmed EV’s December reporting that the company will begin adopting new distribution models, including agency and importer partnerships in select markets, to complement its existing direct-to-consumer approach.
The company is planning to increase the number of showrooms in Germany and Switzerland this year while also building a dealership network in countries where a direct model may be less effective.
One of the new markets under consideration is Belgium, two people familiar with the matter told EV in December.
In January, Lucid participated in the Brussels Motor Show for the first time, showcasing the $249,000 Lucid Air Sapphire and the 2025 version of the Lucid Air Grand Touring.
Lucid plans to broaden its European product line-up in early 2025 with the launch of the Air Sapphire variant, followed by the introduction of its Gravity SUV early next year.
The company’s third model, based on an upcoming mid-size platform and expected to start below $50,000, is slated to begin production in late 2026 and enter the European market in 2027.
Lucid’s European operations saw a leadership change late last year when Alexander Lutz stepped down as managing director after a year in the role.
He was succeeded by Lawrence Hamilton, who previously led Hyundai’s Genesis brand in the region.
The company sold only one vehicle in the Dutch market last month, while German sales stood at six units — declining for the sixth consecutive month.
As it ramps production of the Gravity SUV, Lucid reaffirmed its annual guidance of about 20,000 EVs produced, indicating that it expects to make over 17,7000 units in the last three quarters of the year.
