Lucid Motors to unveil new range of security vehicles at World Defense Show in Riyadh

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Lucid Motors to unveil its new, specially designed range of public security vehicles during the World Defense Show. (X/@SaudiProject)
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Updated 03 February 2024
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Lucid Motors to unveil new range of security vehicles at World Defense Show in Riyadh

RIYADH: Lucid Motors, an American manufacturer of electric luxury sports cars and grand tourers, is set to unveil its new, specially designed range of public security vehicles on the sidelines of the World Defense Show in Riyadh next week.  

Images provided by the company, which is based in Newark, show a sleek, futuristic-looking line of black police vehicles, with “police” and “911” printed on the front.  

In January, the company, which is 60 percent owned by the Kingdom’s Public Investment Fund, announced it was set to secure a high-quality aluminum panel supply through an agreement signed with a subsidiary of the Saudi Arabian Mining Co., commonly known as Ma’aden. 

Ma’aden Rolling Co. signed a deal with Lucid Motors to supply aluminum sheets with various specifications for its US factories, according to a post on X.

This initiative aligns with the Saudi mining firm’s commitment to advancing the global energy transition.   

It aims to expand MRC’s global market presence, offering customized services and ensuring rapid response times.     

The company further explained in the post at the time that the agreement, concluded during the Future Minerals Forum, will span a period of three years.

In January, the carmaker also announced that it is on track to bolster its manufacturing capabilities thanks to a new expansion of its US Advanced Manufacturing Plant, known as AMP-1.   

This development will help propel the building capacity ahead of production of the company’s new fully electric sports utility vehicle, the Lucid Gravity, and support future growth, according to a statement released at the time.

“The expansion of our manufacturing footprint in Arizona is a significant milestone for the company, as we prepare for the next phase of Lucid’s growth,” said Peter Rawlinson, CEO and chief technology officer at Lucid.

In September 2023, Lucid Group said it had “officially opened the first-ever car-manufacturing facility in Saudi Arabia.”  

The company said at the time: “As Lucid’s second advanced manufacturing plant and first international plant, the facility will produce Lucid’s groundbreaking electric vehicles for Saudi Arabia and export to other markets.”  

A month later, South Korean company Hyundai Motor Group announced plans to build an automobile plant in the Kingdom in partnership with the Public Investment Fund.  

Organizers of the second annual World Defense Show in Riyadh, which will take place from Feb. 4 to 8, said it will showcase “the future of defense through technological developments from around the globe.”


Saudi POS spending jumps 28% in final week of Jan: SAMA

Updated 06 February 2026
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Saudi POS spending jumps 28% in final week of Jan: SAMA

RIYADH: Saudi Arabia’s point-of-sale spending climbed sharply in the final week of January, rising nearly 28 percent from the previous week as consumer outlays increased across almost all sectors. 

POS transactions reached SR16 billion ($4.27 billion) in the week ending Jan. 31, up 27.8 percent week on week, according to the Saudi Central Bank. Transaction volumes rose 16.5 percent to 248.8 million, reflecting stronger retail and service activity. 

Spending on jewelry saw the biggest uptick at 55.5 percent to SR613.69 million, followed by laundry services which saw a 44.4 percent increase to SR62.83 million. 

Expenditure on personal care rose 29.1 percent, while outlays on books and stationery increased 5.1 percent. Hotel spending climbed 7.4 percent to SR377.1 million. 

Further gains were recorded across other categories. Spending in pharmacies and medical supplies rose 33.4 percent to SR259.19 million, while medical services increased 13.7 percent to SR515.44 million. 

Food and beverage spending surged 38.6 percent to SR2.6 billion, accounting for the largest share of total POS value. Restaurants and cafes followed with a 20.4 percent increase to SR1.81 billion. Apparel and clothing spending rose 35.4 percent to SR1.33 billion, representing the third-largest share during the week. 

The Kingdom’s key urban centers mirrored the national surge. Riyadh, which accounted for the largest share of total POS spending, saw a 22 percent rise to SR5.44 billion from SR4.46 billion the previous week. The number of transactions in the capital reached 78.6 million, up 13.8 percent week on week. 

In Jeddah, transaction values increased 23.7 percent to SR2.16 billion, while Dammam reported a 22.2 percent rise to SR783.06 million. 

POS data, tracked weekly by SAMA, provides an indicator of consumer spending trends and the ongoing growth of digital payments in Saudi Arabia.  

The data also highlights the expanding reach of POS infrastructure, extending beyond major retail hubs to smaller cities and service sectors, supporting broader digital inclusion initiatives.  

The growth of digital payment technologies aligns with Saudi Arabia’s Vision 2030 objectives, promoting electronic transactions and contributing to the Kingdom’s broader digital economy.