Lucid Motors has announced an agreement with the government of Saudi Arabia which entails the purchase of 100,000 EVs over the next decade. Lucid Motors which has just started the production of the Dream Edition of the Air will soon be launching the Grand Touring edition of the car as well as the performance edition. Lucid Motors will start deliveries of the EVs by the second quarter of 2023. Annually, between 2023 and 2024, Lucid Motors is aiming at 1,000 to 2,000 EVs for the first two years. That number will rise to 4,000-7,000 EVs from 2025 onwards. This first lot will have 50,000 cars.
This order doesn’t only include the Lucid Air but also its upcoming SUV Lucid Gravity. All these cars will be initially built in the AMP-1 facility in Arizona and then will also be manufactured in the upcoming factory in Saudi Arabia.
The EPA says it is the highest rated EV in the US market
There will be another tranche of 50,000 vehicles which will be conditional by the Saudi Arabian government if there is a requirement.
“Delivering up to 100,000 Lucid electric vehicles in Saudi Arabia represents another pivotal moment in our acceleration of sustainable transportation worldwide. We are delighted to be supporting Saudi Arabia in achieving its sustainability goals and net-zero ambitions, as outlined by Saudi Vision 2030 and the Saudi Green Initiative, by bringing our advanced luxury EVs to Saudi Arabia,” said Peter Rawlinson, the CEO and CTO of Lucid Motors.
The Saudi Arabian sovereign fund has backed Lucid Motors. In fact, recent reports have revealed that the sovereign fund chose Lucid Motors over Tesla when Elon Musk wanted to take the EV pioneer private. Lucid Motors won out because of its commitment to building a factory in Saudi Arabia.
Highlights
- Lucid Motors is backed by the Saudi Arabian sovereign fund
- Its deal includes the creation of a factory in Saudi Arabia
- Some of the 100,000 cars will be built locally once the factory is ready
Keyword: Lucid Motors Locks Agreement With Saudi Government To Purchase 100,000 EVs