Lucid Group, the luxury electric vehicle (EV) manufacturer, has commenced customer deliveries of its flagship model, the Lucid Air, in Saudi Arabia. This development holds significance as Saudi Arabia is not only the home of the company’s largest shareholder but also represents a market with significant potential for EV adoption.
Faisal Sultan, the Vice President and Managing Director of Lucid Middle East, shared this exciting news in an interview with Argaam, as reported by Teslarati. The Lucid Air, which starts at $117,300 (440,000 Saudi Riyals) for the base Pure trim in Saudi Arabia, offers premium features and cutting-edge technology. The range-topping Dream Edition, available in limited quantities, commands a price tag of up to $256,000 (960,000 Saudi Riyals).
Sultan expressed optimism about the future of Lucid Air in the Kingdom, citing the thousands of reservations received by the EV startup. He expects numerous Lucid Air EVs to grace the roads of Saudi Arabia as the company plans to deliver hundreds of vehicles to customers in the coming months.
To facilitate these deliveries, Lucid Group is dispatching hundreds of cars from its manufacturing facility in Casa Grande, Arizona to Saudi Arabia on a weekly basis. The company aspires to deliver thousands of vehicles, although the current pace is limited by the capacity for shipment at a time.
Lucid’s ambitious expansion plans also include the construction of a new assembly plant known as AMP-2 (Advanced Manufacturing Plant #2) in King Abdullah Economic City (KAEC), Saudi Arabia. Sultan revealed that the facility is expected to be operational by the third or fourth quarter of this year. While the exact production capacity remains undisclosed, the initial focus of AMP-2 will be on the re-assembly of Lucid Air vehicle kits manufactured in the United States. This strategy aims to expedite deliveries and bolster supply by the end of the year.
Furthermore, Sultan outlined Lucid Group’s long-term vision for the AMP-2 plant. By 2025 or 2026, the factory is projected to produce complete vehicles with an annual capacity of 150,000 EVs. These endeavors will primarily cater to the demand of customers in Saudi Arabia, including the government’s order of 100,000 vehicles placed last year, as well as the broader Gulf Cooperation Council (GCC) countries.
Expanding its presence beyond Saudi Arabia, Lucid Group intends to establish its first showrooms in the United Arab Emirates by the end of this year, targeting the affluent Gulf market.
While the commencement of customer deliveries in Saudi Arabia arrives later than initially projected, Lucid Group’s progress remains commendable. In addition to this milestone, the company recently announced plans to raise approximately $3 billion through a stock offering, with Saudi Arabia’s Public Investment Fund (PIF), its largest shareholder, expected to contribute nearly two-thirds of the funds. Lucid’s relentless pursuit of growth and innovation in the EV sector continues to garner attention, positioning the company as a formidable player in the global automotive landscape.
