The Saudi Government announced Tuesday that it has struck an agreement with Lucid for the purchase of up to 100,000 of its vehicles over the next 10 years.
This agreement is a significant move that supports the key objectives of Vision 2030 including diversifying and transforming the economy, society and lives of the people of Saudi Arabia, building new sectors fit for the future and creating skilled jobs for future generations. It also comes in alignment with the Saudi Green Initiative and the Middle East Green Initiative, which were previously announced by Crown Prince Mohammed bin Salman.
The agreement with Lucid reflects the government’s efforts to diversify its fleet of vehicles aiming at reducing carbon emission and inspiring sustainable transportation.
Lucid plans to build its first overseas production factory in Saudi Arabia later this year, where it expects to eventually manufacture up to 150,000 vehicles per year.
This will support the Saudi government’s local content drive, diversify the economy, provide thousands of highly skilled job opportunities and provide economic benefit to the Kingdom in line with Vision 2030. It will also help Saudi Arabia realize its ambition to be a major regional and global manufacturing base for the next generation of electric vehicles.
By entering into the agreement, the Kingdom also aims to diversify the technologies used in the private transport sector as part of its continuing efforts to develop technologies for managing vehicles emissions, which includes, but is not limited to, the manufacturing of electric vehicles in the Kingdom by using innovative technologies, advanced low emission fuel development programs and experimenting and developing technologies for hydrogen-cell vehicles.