São Paulo – The government of Saudi Arabia announced an agreement with American company Lucid Motors to buy between 50,000 and 100,000 electric vehicles (EVs) from the company over a period of ten years. According to information released on the Arab News website, the purchase is an effort by the Saudi government to diversify its fleet of vehicles and make it more environmentally friendly.
Lucid is building an EV plant in Saudi Arabia, which could help the country reach the goal of 30% of cars running on electrical power in the capital, Riyadh, by 2030. The Arab country has a strategic plan called Vision 2030 for economic diversification and growth, including increased sustainability.
The factory will be Lucid’s first outside the United States and will have the capacity to produce up to 150,000 electric vehicles a year. The Saudi sovereign wealth fund (PIF) has a stake in Lucid, and the option to buy 100,000 cars from the brand was linked to the fact it is building facilities in the country. Lucid specializes in luxury EVs.
Translated by Elúsio Brasileiro
