Lucid Motors reveals new details on its planned Saudi Arabia factory
Lucid Motors will receive financial incentives of up to USD3.4 billion over the next 15 years to build and operate the EV production plant in Saudi Arabia
Arizona-based EV maker Lucid Motors held a ceremonial signing event in Riyadah with the Ministry of Investment of Saudi Arabia (MISA), the Saudi Industrial Development Fund (SIDF), Emaar, The Economic City, at King Abdullah Economic City (KAEC) and Gulf International Bank (GIB) to formalize its proposal of building an electric vehicle manufacturing plant in Saudi Arabia with an annual capacity of 155,000 units, the company said on 18 May 2022.
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