Less than a year and a half after the announcement, Lucid Motors has opened an assembly plant in Saudi Arabia. The factory will assemble Lucid Air cars delivered in parts from the Casa Grande, Arizona, location. Up to 150,000 cars per year will then be assembled for the Arab region.
It is a first for Saudi Arabia, as it is the country’s first car factory. One good reason for building the factory was certainly the entry of the Saudi Public Investment Fund (PIF), which holds a total of 265,693,703 shares at an average price of $6.83, and with this 1.8 billion investment thus owns almost 15 percent of the American luxury electric car manufacturer.
The Advanced Manufacturing Plant, AMP-2, is the first car manufacturing plant in the country. As Lucid’s first international factory, AMP-2 represents a shared commitment to accelerate the adoption of sustainable mobility by making the most advanced electric cars in the world.
This article was also published in German.
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