Lucid Motors announced that it has assembled nearly 800 cars at its factory in Saudi Arabia since its opening, with a primary focus on training over 200 local employees, according to the Middle East Director of Lucid on Wednesday.
Opening of the Lucid Factory in Saudi Arabia
Lucid Motors opened its first factory outside the United States in September, with an annual production capacity of 5,000 electric vehicles, after the Saudi government committed to purchasing up to 100,000 vehicles over the next 10 years.
Assembly Process at the Factory
The cars are assembled at the factory in Jeddah, Saudi Arabia, where the battery is reassembled, the trims and wheels are added, and the vehicle is retested, according to the CEO of Lucid.
Saudi Investment in Lucid
The Saudi Public Investment Fund, which owns more than 60 percent of Lucid’s shares, has invested billions of dollars in the company as part of the government’s plans to establish an electric vehicle manufacturing hub in the kingdom.
Training Local Employees
Lucid aims to train employees, half of whom are Saudis, in preparation for the opening of a complete manufacturing unit capable of producing cars by 2026, which is already under construction.
Hopes to Attract Major Parts Suppliers
Lucid hopes that the factory will help attract major parts suppliers to establish a presence in the kingdom, so it won’t have to import parts from around the world.
The International Energy Agency announced on Thursday an upward revision in its forecasts for global oil demand growth for next year despite the expected economic slowdown, citing improved prospects for the U.S. economy and falling oil prices.
Oil Demand Forecast for 2024
Global oil demand will see an
Source: https://www.arabnews.com/node/2425636
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