Saudi Arabia

Lucid Launches Saudi Arabia’s First Car Manufacturing Plant 

Lucid Group has opened Saudi Arabia’s first-ever car manufacturing facility, marking a significant milestone in the country’s industrial landscape. Located in King Abdullah Economic City (KAEC), Jeddah, the Advanced Manufacturing Plant (AMP-2) is Lucid’s first international facility and second overall. It will produce the Lucid Air, the company’s award-winning electric vehicle (EV). The plant has […]

Tesla in Early Talks with Saudi Arabia for Potential Factory: Report

Saudi Arabia is in early-stage discussions with Tesla about the possibility of setting up a manufacturing facility in the kingdom, according to people familiar with the matter, reports the Wall Street Journal. The talks are part of Saudi Arabia’s broader strategy to diversify its economy away from oil and secure essential metals for electric vehicles […]

Lucid Motors Stock Price Climbs 43% Amid Saudi Takeover Rumors

Lucid Motors saw its stock price jump by as much as 98% on Friday, closing at $12.87 per share (up 43%), as rumors of Saudi Arabia’s Public Investment Fund (PIF) considering a full takeover of the luxury electric automaker made the rounds — reports the Silicon Valley Business Journal. The news represents a breath of […]

Lucid Motors May Build Factory in Saudi Arabia, Report Says

California electric vehicle (EV) startup Lucid Motors is currently in talks with Saudi Arabia’s sovereign wealth fund about building an EV factory in the kingdom, according to a Financial Times interview with Yasir Al-Runayyan, the fund’s governor (via Bloomberg). The factory could be built near the Red Sea city of Jeddah, according to earlier reports […]