Lucid Motors Joins ‘Made in Saudi’ Initiative
Lucid Motors, a leading electric vehicle manufacturer, is the first global automotive company to join Saudi Arabia’s “Made in Saudi” program. This achievement allows Lucid to display the “Saudi Made” label, highlighting the country’s emphasis on quality and innovation.
The initiative is part of Saudi Arabia’s strategy to enhance its industrial sector, aiming to increase its GDP contribution to 20% by 2025. This involves attracting investments, boosting non-oil exports, and generating sustainable job opportunities, aligning with Vision 2030’s economic diversification goals.
Bandar Alkhorayef, the Minister of Industry and Mineral Resources, emphasized that Lucid’s participation strengthens Saudi Arabia’s position as a hub for innovative manufacturing and supports the creation of a comprehensive electric vehicle ecosystem.
Lucid’s move follows the opening of its first international manufacturing plant in King Abdullah Economic City, marking a significant step in developing a domestic automotive industry. Initially, the facility can assemble 5,000 vehicles annually, with plans to ramp up to 155,000 units once fully operational.
Saudi Arabia’s Vision 2030 includes a major push for electric vehicle adoption, with goals such as having 30% of Riyadh’s vehicles be electric by 2030. The Public Investment Fund (PIF), a major supporter of Lucid, is also launching Ceer, the first local EV brand, and plans to install 5,000 fast chargers by 2030.
Consumer interest in EVs is rising, with a PwC report indicating that over 40% of Saudi consumers are considering an EV purchase within three years. Lucid’s regional VP, Faisal Sultan, expressed pride in joining the program, committing to sustainability and innovation.
The “Made in Saudi” program, launched in 2021, promotes local products and services, aiming to boost non-oil exports and reduce dependency on oil by fostering sectors like electric vehicle manufacturing.