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Lucid 'On Track' to Produce Over 10,000 EVs Annually in Saudi Arabia

02 Dec 2024 | Abstracted from EV

In September 2023...the facility started operations with Semi-Knocked Down (SKD) assembly, using vehicle kits pre-manufactured at Lucid's main factory in Arizona...in January 2024, the company began construction on an expansion to transform the plant into a Complete Build Unit...Lucid projected that its manufacturing plant in Saudi Arabia could generate up to $3.4 billion in value over a 15-year period with annual production reaching 150,000 at peak.

"Saudi Arabia's Public Investment Fund (PIF) stake in Lucid has recently surpassed 60%."

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