Lucid Motors announced that they have signed three agreements that will set the stage for their first international EV plant in Saudi Arabia.
The company announced that they signed agreements with:
- the Ministry of Investment of Saudi Arabia
- the Saudi Industrial Development Fund and the;
- Economic City at King Abdullah Economic City (KAEC).
The agreements will lay the groundwork for Lucid to open a full production facility in Saudi Arabia.
Lucid’s new manufacturing hub will be wholly owned by the US automaker and start construction in the first half of 2022.
The plan is to establish the plant as a re-assembly facility to start.
The company will ship Lucid Air vehicle kits from the Lucid AMP-1 manufacturing plant in Arizona. Then, the KAEC facility will assemble the vehicles on-site.
However, the company plans to eventually produce complete vehicles at the KAEC facility.
Lucid estimates that the KAEC facility will produce around 150,000 vehicles per year once fully operational.
As part of the agreement, the company will establish an internship program and provide educational opportunities and training at their US-based facilities. In addition, Lucid will build and run a dedicated training centre in KAEC.
Once both the expansion of AMP-1 and the KAEC facility is up and running, Lucid expects to produce more than 500,000 vehicles per year.