Lucid may build a plant in Saudi ArabiaJanuary 8, 2021
The production factory of Lucid may appear near the city of Jeddah.
The Saudi Arabian State Welfare Fund has already invested more than $ 1 billion in startup Lucid and will provide most of the money needed to build the facility, which could be located in the economic city of King Abdullah, according to sources.
Lucid and the welfare fund are also reportedly considering setting up a plant in Neoma, a new city currently under construction in the country’s northwest. Saudi Arabia is striving to establish itself as a Middle East center for the production of electric vehicles.
Lucid recently completed the first phase of construction at its Casa Grande, Arizona plant in November. The capacity of the first section will be up to 30,000 vehicles per year. Until 2028, three more phases of the plant’s construction are planned, as a result of which the plant’s capacity will increase to 400,000 vehicles per year.
It remains to be seen how large a plant in Saudi Arabia can be and how many cars it can produce each year.
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