{"id":20871,"date":"2022-04-26T18:04:28","date_gmt":"2022-04-26T22:04:28","guid":{"rendered":"http:\/\/autosector.com\/?p=20871"},"modified":"2022-04-26T18:04:28","modified_gmt":"2022-04-26T22:04:28","slug":"lucid-motors-announces-agreement-with-govt-of-saudi-arabia-to-purchase-up-to-100k-evs-over-the-next-decade","status":"publish","type":"post","link":"http:\/\/autosector.com\/?p=20871","title":{"rendered":"Lucid Motors announces agreement with Gov’t of Saudi Arabia to purchase up to 100k EVs over the next decade"},"content":{"rendered":"

Lucid Group<\/a> has announced a new agreement with long-time supporter Saudi Arabia and its Ministry of Finance. Under the terms of the agreement, the Government of Saudi Arabia has committed to purchasing 50,000 EVs from Lucid Motors over the next ten years, with the option to purchase an additional 50k over that same timeframe. <\/p>\n

Lucid Motors is an American automaker whose EV production is just beginning to pick up following first deliveries of its Dream Edition Air sedan<\/a> this past fall. The next trim of the Air \u2013 the Grand Touring, has recently begun deliveries as well and will be joined by an even speedier Performance version<\/a>.<\/p>\n

We got the chance to visit Lucid\u2019s AMP-1 facility<\/a> in Casa Grande, Arizona, where the Airs are built, and it\u2019s a marvel. With the second of four planned expansion phases already underway, Lucid is gearing up for some major EV output. This should soon include the automaker\u2019s second model, the Gravity SUV<\/a>.<\/p>\n

Looking back, Lucid may not have reached this tipping point of scaled production if it weren\u2019t for a massive influx of funding<\/a> from the Public Investment Fund of Saudi Arabia (PIF) back in 2018. In 2021, rumors began to swell that the $1 billion investment from PIF was contingent upon Lucid building a manufacturing facility<\/a> in Saudi Arabia.<\/p>\n

While its middle-eastern EV plant remains a blueprint for the time being, EVs eventually built there will be sold to the Government of Saudi Arabia. For now, Lucid will be shipping EVs built in Arizona overseas to begin filling one of the largest commitments for an EV purchase ever. <\/p>\n

\"Lucid
Lucid\u2019s upcoming Gravity SUV. One of the EVs that could soon be sold and deliveries to Saudi Arabia \/ Source: Lucid Motors<\/figcaption><\/figure>\n

Saudi Arabia commits to at least 50k Lucid EVs, perhaps more<\/h2>\n

Lucid Group announced its new purchase commitment from the Government of Saudi Arabia in a press release<\/a> this afternoon. The purchase of at least 50,000 Lucid EVs is part of the Kingdom\u2019s \u201cSaudi Vision 2030\u201d and \u201cSaudi Green Initiative\u201d sustainability strategies. Here\u2019s how the order breaks down:<\/p>\n