One of Lucid Group’s cars
US electric car manufacturer Lucid Group Inc. will sign on May 18 a contract to start construction of an electric vehicle (EV) factory in King Abdullah Economic City (KAEC), according to a statement picked up by Argaam today, May 12.
The contract, which will be signed in presence of the Ministry of Finance, Ministry of Investment, Public Investment Fund (PIF), Saudi Industrial Development Fund (SIDF) and Emaar The Economic City (Emaar EC), is an important chapter in Lucid Group’s future.
Last March, Lucid Group inked agreements with the Ministry of Investment, SIDF and KAEC to build a car manufacturing facility in the Kingdom, Argaam earlier reported.
The company expects to manufacture up to 150,000 vehicles per year at the KAEC facility.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}