Lucid Motors opens plant in KAEC

Lucid Motors, partially owned by the Public Investment Fund (PIF), inaugurated today, Sept. 27, its manufacturing unit, AMO-2, the company's first international factory in King Abdullah Economic City (KAEC), Jeddah.

In May 2022, the company signed a contract to begin the construction of its plant, with a production capacity of 155,000 vehicles.

The Economic Cities and Special Zones Authority (ECZA) recently granted Lucid the operating license for its manufacturing unit, which spans an area of more than 1.35 million square meters, representing nearly 31% of the total area allocated for vehicle manufacturing at KAEC.

The Ministry of Investment stated that the company’s plant will produce four different types of electric vehicles (EVs) as of 2023, to reach its full capacity in 2028.

Two EV types will be exclusively manufactured by Lucid, and approximately 95% of its production will be exported.

This will support the Kingdom’s balance of payments, promote supply chains and generate new investment opportunities in Saudi Arabia.

As per an agreement concluded with the Human Resources Development Fund, Lucid Group is expected to employ a large number of Saudi citizens and create thousands of direct jobs at the plant during peak operations.

The plant will contribute to stimulating innovation, providing job opportunities, improving the capabilities of Saudi talents and offering the necessary training to acquire specialized skills.