CNN —Californian EV-maker Lucid has opened the first ever car manufacturing plant in Saudi Arabia, as the kingdom looks to establish itself as a global player in the EV race.
The factory — the company’s first international plant — will initially focus on re-assembling vehicle kits sent over from the United States.
“We look forward to delivering Saudi-assembled cars to customers in Saudi Arabia and beyond.” Saudi Arabia’s powerful Public Investment Fund (PIF), controlled by the Saudi government, is Lucid’s largest shareholder.
Saudi Arabia wants 30% of new car sales in the kingdom to be electric by 2030.
Earlier this month, The Wall Street Journal reported that Saudi Arabia had also held talks with Tesla over an EV factory in the kingdom.
Persons:
Lucid, ”, Peter Rawlinson, Tesla, Elon Musk
Organizations:
CNN, King Abdullah Economic, Saudi, Public Investment Fund, Siemens, Street Journal, EV
Locations:
Saudi Arabia, King Abdullah, Jeddah, United States, Saudi