U.S. electric vehicle maker Lucid Group will set up its first overseas factory in Saudi Arabia, the company announced.
The Middle East, a region long known for its oil and gas riches, is investing in a new, more sustainable future potentially dominated by electric vehicles.
The electric vehicle sector is booming in Israel, with electric vehicle deliveries in the first half of this year over 210% higher than the same period last year.
"There's a growing recognition that countries need to do something on climate," said Tammy Klein, chairperson of the Electric Vehicle Council.
"I think Middle Eastern countries are no different."
Persons:
Larry Fink, Amin Nasser's, Tammy Klein, Klein, Robert Falck, we'll, " Falck
Organizations:
BlackRock, Saudi, Lucid, Gauss Auto, Marson Group, Electric Vehicle Council, EV, Einride, UAE Ministry of Energy, Infrastructure
Locations:
Saudi Arabia, Saudi Aramco, Israel, Bahrain, American, U.S, Europe, UAE, Sweden, It's, Abu Dhabi, Dubai, Sharjah