Lucid Just Sold 100,000 EVs to Saudi Arabia

Lucid Just Sold 100,000 EVs to Saudi Arabia

Lucid, the EV company on track to compete with Tesla, Mercedes-Benz and other luxury car brands, just made the biggest sale in company history. The California-based outfit made a deal to sell 100,000 vehicles to the Government of Saudi Arabia.

The ten-year deal is part of the Kingdom's Saudi Vision 2030 plan to invest in the country's economy, to diversify and make it more sustainable. It acts in the housing and financial sectors, distributes public and private investments and aims to both enhance government effectiveness and enable more personal responsibility. Zero-emission vehicles certainly fit into those categories.

The Saudi government has made an agreement to an initial purpose of 50,000 vehicles, with the option to purchase 50,000 more. The first cars will be delivered no later than the second quarter of 2023, starting with 1,000-2,000 vehicles annually. That will ramp up to 4,000-7,000 vehicles annually, by 2025.