‎Lucid Motors opens plant in KAEC

‎Lucid Motors opens plant in KAEC

Lucid Motors, partially owned by the Public Investment Fund (PIF), inaugurated today, Sept. 27, its manufacturing unit, AMO-2, the company's first international factory in Jeddah’s King Abdullah Economic City (KAEC).

In May 2022, the company signed a contract to begin the construction of its plant, with a production capacity of 155,000 vehicles.

The Economic Cities and Special Zones Authority (ECZA) recently granted Lucid the operating license for its manufacturing unit, which spans over an area of more than 1.35 million square meters, and occupies about 31% of the total area allocated to the automobile industry in ECZA.

The Ministry of Investment stated that the company’s plant will produce four different types of electric cars as of 2023, to reach its full capacity in 2028.

Two types are exclusively manufactured by Lucid Motors, and approximately 95% of its production will be exported.

This will support the Kingdom’s balance of payments, promote supply chains and open the door for new investment opportunities in Saudi Arabia.