Lucid aims to export 92% of Saudi plant's output: Middle East VP

Faisal Sultan, Vice President, Managing Director of Lucid Middle East, said the company aims to export approximately 92% of its Saudi plant's electric vehicle (EV) production, with 13% earmarked for GCC markets.

The construction of the factory — currently underway in King Abdullah Economic City (KAEC) on the Kingdom’s western coast — is progressing as scheduled, Sultan told Arab News.

He added that the construction would be completed by the end of next year, with production set to begin in 2027, targeting an annual output of 150,000 EVs.

Sultan predicted that EVs would make up 30% of the total number of vehicles in Saudi Arabia, compared with the current rate of less than 7%, driven by supportive government initiatives and incentives. However, he emphasized that this growth depends on the development of the necessary infrastructure, particularly the availability of charging stations.

The Managing Director added that Lucid is working with government entities and different companies to expand the charging network, especially outside urban areas.

Lucid is also seeking partnerships to establish a battery recycling plant near its facility in KAEC, Sultan said, noting that the move would ensure the safe disposal or resale of battery components.

Lucid Group — a US company partially owned by Saudi Arabia’s Public Investment Fund — inaugurated its AMP-2 factory in September 2023, marking the company’s first international plant.