Saudi government to buy up to 100,000 EVs from Lucid
The government of Saudi Arabia has agreed to buy between 50,000 and 100,000 EVs from Lucid over a 10-year period.
The agreement supports the government’s efforts to diversify its fleet and become more eco-friendly, as set out in its Vision 2030 programme; and it’s a show of support for Lucid’s recently-announced plant in Saudi Arabia, the first outside the U.S.
One of the Saudi government’s green ambitions is to have 30% of all vehicles in the capital Riyadh (pictured) run on electricity by 2030. PIF, the Saudi sovereign wealth fund, is an important shareholder in Lucid, which will soon roll out up to 150,000 EVs per year from its Saudi plant.
That plant will help the Saudis realise their ambition to become a major hub – regionally and globally – for manufacturing next-generation EVs.