RIYADH: In a significant move toward economic diversification and revolutionizing the national transportation landscape, the Economic Cities and Special Zones Authority has granted Lucid Motors a permit to operate a manufacturing unit in King Abdullah Economic City.
A ceremony was organized at the authority’s offices in KAEC to mark the development, according to an official press release.
Lucid Motors, backed by the Public Investment Fund, is delivering its first factory outside the US, which will make up half of the Kingdom’s plan to produce 300,000 vehicles annually by 2030.
The megacity has a ready-built residential infrastructure for the future employees of Lucid Motors, which includes schools and recreational and entertainment avenues.
The city has also heavily invested in sustainability which could be a destination of choice for companies conscious of their environmental commitments.
Commenting on the development, ECZA Secretary-General Nabil Khojah said: “The establishment of a world-class e-vehicle manufacturing unit at KAEC SEZ in a short time frame demonstrates the efficiency, capabilities, and strengths of the special economic zones in the Kingdom.”
He said it is also a testament to the Kingdom’s environment conducive to business activities. “Today, we take a step toward
creating a futuristic transportation landscape while reducing emissions and promoting clean and sustainable mobility.”
Faisal Sultan, Lucid vice president, and Middle East managing director, said: “As the Kingdom’s first-ever e-vehicle manufacturing facility and Lucid’s first international plant, the facility will pave the way and set the standard for the automotive industry and provide the Saudi Arabian market with game-changing, advanced Saudi-assembled e-vehicles. As we collectively work toward Vision 2030 and a more sustainable and diversified economy, we look forward to attracting, training, and retaining a brand-new workforce of automotive professionals.”
The EV manufacturer aims to export 85 percent of its production outside the Kingdom, benefiting from the city’s port located on the Red Sea.
Cyril Piaia, CEO of Emaar, The Economic City – master developer of KAEC, said: “We are very confident that Lucid will play a major role in helping us to achieve our goal of becoming the automotive capital of the region and will also have a positive impact on the local economy, creating jobs, promoting technological advancements, and attracting new investments to KAEC.”
The state-of-the-art facility spans an expanse of over 1.35 million sq. meters, occupying about 31 percent of the total area of the KAEC SEZ’s auto hub, a designated area allocated for the automotive industry.
