Lucid Motors, over $ 3 billion from Saudi Arabia for the new factory

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Lucid Motors build & agrave; a new factory for its electric cars in Saudi Arabia. As we know, the American manufacturer has chosen Kaek, on the Red Sea, as the site for its plant. More details about the project have now emerged: to carry on the construction and management of the new plant, Lucid Motors will receive & agrave; funding and incentives up to $ 3.4 billion in total over the next 15 years.

UP TO 2026

Once fully operational, this factory will produce; up to 155 thousand cars per year . Initially, they will serve to meet the country's demand for electric cars. However, Lucid Motors plans to transform this manufacturing site into a hub for the export of its electric cars to other countries.

To support the activities of the factory, as already; we know, the Government of Saudi Arabia will purchase by Lucid Motors over the next 10 years up to 100,000 electric cars (50,000 guaranteed). Although the new factory will be; ready only in 2026, the first deliveries in this country should start already; towards the end of the year thanks to the American factory. In any case, they will have to leave no later than the second quarter of 2023.

Initially, between one thousand and two thousand cars will be supplied per year. From 2025, Lucid Motors is & egrave; committed to delivering between 4,000 and 7,000 cars per year. The commitment with the American car manufacturer will allow; Saudi Arabia to take a major step forward in achieving its sustainability goals outlined by the Saudi Vision 2030 plan and the Saudi Green Initiative.

The cars that Lucid Motors will deliver; to Saudi Arabia it will not be only Lucid Air. The manufacturer will provide; also its models that will arrive in the future including a new SUV.

EXPANSION ALSO IN EUROPE

The American manufacturer has ambitious expansion plans. Although the production of its first electric model is growing slowly, in the course of 2022 the Lucid Air will land. also in Europe. Unfortunately, for the moment Italy is not; included in the first round of European countries in which the manufacturer will debut.

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