Lucid Motors: Expansion plans to Saudi Arabia

Lucid Motors: Expansion plans to Saudi Arabia-plans

The US start-up Lucid actually wanted to deliver its luxury e-sedan Air, the brand’s first model, in Europe from the end of 2021. In the USA, the first customers received their vehicles in October. But now it is known to be later. Instead of using all of its energy for delivery in Europe, the start-up is also concentrating on other plans. One of them, an own production plant in Saudi Arabia.

Considering that Lucid’s largest shareholder is the Saudi Arabian sovereign wealth fund Public Investment Fund (PIF), these plans are not surprising. These have been confirmed by Lucid. The plant is to be built by 2025 or 2026. Details are currently being negotiated with the kingdom’s ministries, including the specific location of the production facility. Unofficial sources indicate that the potential location could be the Red Sea city of Jeddah or Neom, a city in northwestern Saudi Arabia.

In a recent Bloomberg article, the two cities are also named. According to a person familiar with the proceedings, the Saudi sovereign wealth fund PIF would “provide much of the money for the location in King Abdullah Economic City”. According to company boss Peter Rawlinson, the Air is currently the most efficient, powerful and fastest-charging electric car. The maximum range of the Air of up to 832 kilometers in the realistic US standard EPA should also be market-leading according to the WLTP standard that applies in Europe. The current leader is the luxury electric sedan Mercedes-Benz EQS with up to 780 WLTP kilometers.

Between the start of deliveries in the US at the end of October and the end of 2021, the company was able to deliver 577 examples of the Air. Divided into 520 Stromers of the “Dream Edition” and 57 as “Grand Touring”. The stated goal at the start of delivery was 520 Air “Dream Edition” – so Lucid has achieved this target. Now it is important to get the Stromer to Europe in a timely manner. Germany has a good chance of being at the forefront.

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