Supply Chain Council of European Union | Scceu.org
Operations

Lucid Motors to build a factory in Saudi Arabia

The Public Investment Fund of Saudi Arabia has already put more than $1 billion into the Lucid startup, and will soon be co-financing the construction of a car factory in King Abdullah Economic City.

The Public Investment Fund of Saudi Arabia has already put more than $1 billion into the Lucid startup, and will soon be co-financing the construction of a car factory in King Abdullah Economic City.

According to Bloomberg, Lucid and the PIF SA additionally consider launching another enterprise in Neom, a planned innovation city currently being developed in the northwestern Saudi Arabia.

Lucid has recently wrapped up constructing its first production site in Casa Grande, Arizona, USA. The young company plans to piece together up to 30,000 cars there annually, and considers increasing production to 400,000 eventual units by 2028.

Lucid’s first EV – the Air – starts from U.S. $72,500 for the most basic specification before all options. Air Touring can be had from $85,700, while Air Grand Touring and Air Dream Edition cost $131,500 and $161,500, respectively, federal tax deductions already included.

Editor Andrew Raspopov

Related posts

Fatal Accident Halts Production at Hyundai’s S. Korean Factory After Refit for New EV

scceu

Smart Factory Market Type, Application, Specification, Technology and Forecast to 2024 · Wall Street Call

scceu

Fire crews scramble to protect AstraZeneca vaccine factory from flooding

scceu

Leave a Comment