Al-Marsad newspaper: The Lucid Motors Company for electric cars announced that it intends to build its factory in Saudi Arabia by 2025 or 2026.
The company’s chairman, Andrew Liveris, told Bloomberg that the company is currently negotiating with the Saudi Ministry of Investments, especially following the company’s success in producing and selling cars in the United States.
It is noteworthy that the Saudi Investment Fund owns a 67% stake in Lucid Company, which was listed on the US stock market in July 2021, with an investment amounting to “one billion three hundred million dollars”.
The Governor of the Saudi Investment Fund, Yasser Al-Rumayyan, had announced in January 2021 that the fund was in talks with the company to build a factory for electric cars in Saudi Arabia.