Saudi Arabia has agreed to acquire 100,000 electric cars from Lucid.
Saudi Arabia has agreed to acquire 100,000 electric cars from Lucid.
Saudi Arabia’s government said that it has reached an agreement with Lucid Company to buy a minimum of 50,000 electric cars and a maximum of 100,000 electric vehicles over the next ten years, with the goal of diversifying its fleet of vehicles and making them more ecologically friendly.
This agreement is a significant step toward achieving the goals of Saudi Vision 2030, which aims to implement broad-based reforms in the economy, society, and quality of life, diversify the Kingdom’s economy and build new sectors that are future-oriented, and provide job opportunities for Saudi citizens.
The move is also in line with Saudi Crown Prince Mohammad bin Salman’s previous announcements of the Green Saudi initiative and the Green Middle East initiative, as well as the government’s efforts to diversify its fleet in order to reduce carbon emissions and encourage the use of sustainable transportation.
Lucid was chosen because they are building a factory in Saudi Arabia to assemble these vehicles, which will move to full production over time, in support of local content, which will contribute to diversifying the economy and achieving returns in line with Saudi Vision 2030, in addition to making Saudi Arabia a major centre for the regional and global industry for the next generation of electric cars. Lucid aims to produce up to 150,000 cars per year.
Saudi Arabia hopes to diversify the technologies used in private transportation by purchasing these vehicles as part of its efforts to develop vehicle emissions management technologies, which include, but are not limited to, the manufacture of electric vehicles using modern technologies, programmes for the development of advanced low-emission fuels, vehicle experimentation and development, and hydrogen cell vehicle technologies.
The signing of this agreement by the Kingdom comes at a time when there is a noteworthy growth in demand for electric automobiles throughout the world, and many other governments have asked for them.
The deal also allows the Kingdom to collaborate with Lucid on the development of future models and vehicles to meet the demands of the government fleet.
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