The manufacturing facility will be able to produce 155,000 vehicles a year, and will initially serve the local market, the luxury car maker said in a press release.
Including the 350,000 units a year that can be made in Lucid’s factory in Arizona, the company will be able to produce half a million cars a year by the middle of the decade, earlier than its previous target of 2030, said CEO Peter Rawlinson. Saudi Arabia’s minister of investment, Khalid al-Falih, said he expects more EV manufacturers to set up shop in the kingdom.