Riyadh — Mubasher: US-based Lucid Motors is looking to set up a factory in Saudi Arabia, the American electric carmaker’s chief technology officer said.
Lucid Motors is to have a “long-term” partnership with the kingdom, Saudi-based Arab News reported, citing Peter Rawlinson as saying.
“I can see a really bright future, with a tangible manufacturing facility or facilities,” he said.
Lucid’s Saudi plan is still in its “early days”, the chief technology officer noted, forecasting electric vehicles to have strong potential in the oil-rich kingdom.
“One of the great assets of the kingdom is its endless reserves of sunshine, and how that can be harvested with solar energy,” he said.
The Saudi Public Investment Fund (PIF) started talks to invest in aspiring Tesla rival Lucid Motors Inc, Reuters reported last August.
The talks between the privately-held electric carmaker and the Saudi sovereign investor underscored the latter’s appetite to invest in electric car makers in a bid to diversify the oil-rich Middle Eastern kingdom’s investment portfolio.
