Lucid sees higher demand in Saudi Arabia, begins exports to UAE

Faisal Sultan, Vice President and Managing Director of Lucid Middle East

The demand for electric cars is increasing in Saudi Arabia, which is one of the company’s strongest markets in the world, due to the young generation’s awareness of the importance of sustainability and the efficiency, Faisal Sultan, Vice President and Managing Director of Lucid Group Middle East), told Argaam.

For more exclusive interviews

Lucid started exporting cars manufactured in the Kingdom to the United Arab Emirates (UAE) about a month and a half ago.

As the company continues to expand and increase its offers, its efforts in the Kingdom are a model for enhancing the adoption of electric cars in emerging markets, Sultan added.

Lucid launched many initiatives aimed at enhancing consumer confidence due to the misconception regarding the range and performance of electric cars in hot weather, the executive added.

These include exemption from 15% value-added tax (VAT) and providing home charging solutions, which encompass a home charger and SAR 3,750 for installation.

As for the King Abdullah Economic City (KAEC) plant, Sultan said that work is underway to complete construction, in order to open seven to eight other buildings in addition to the existing assembly plant. The production capacity is likely to reach 150,000 cars after the construction is completed.

Lucid, partially owned by the Public Investment Fund (PIF), inaugurated its first international factory in KAEC in September 2023, Argaam earlier reported.

In February, Firas Kandalaft, Marketing Director (Middle East), said that the company plans to announce the second phase of production in Saudi Arabia soon. In the second phase, Lucid will shift to complete build unit (CBU) production of some models at its facility in KAEC.

The first phase was limited to manufacturing certain parts or assembly.