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Saudi Arabia Wants To Become A Force In Electric Vehicle Manufacturing

29 Sep 2023 | Abstracted from Economist

"...it wants to make 500,000 evs a year by 2030, roughly equivalent to annual demand for cars in Saudi Arabia today.

"Hyundai...has agreed to build a factory to assemble its vehicles in the country. Tesla, the world's largest full ev producer, is said to be in talks about setting up a manufacturing facility...Lucid...opened a factory near Jeddah...its EV efforts are a serious attempt on the part of the world''s biggest oil exporter to diversify its economy and create new industries in anticipation of the bigger changes coming down the road."



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