The Saudi Arabian government has already committed to buying 50,000 EVs from Lucid over the next decade car auto cars
has just touched down in Saudi Arabia and is now available to lease. Given how important the Saudi Arabian market is for the future of the brand, this represents a significant milestone.commenced shipments of the Air to Saudi Arabia last week and it is now available through a selection of different leasing companies. It is not yet clear how much locals will have to pay to get behind the wheel of the luxurious EV but in the U.S., the cheapest model is available from $995 per month for 36 months.
Saudi Arabia has proven to be a loyal investor in Lucid over the past few years. In fact, it has poured billions into the company and most recently invested an additional $1.8 billion, meaning it now owns a 60.5% stake. Saudi Arabia’s Public Investment Fund’s stake in Lucid is worth approximately $9 billion.Lucid Trumps Tesla In 20-Minute Charging Test – Here’s How Other EVs Fared
The Kingdom hasn’t just made significant investments in Lucid, but in 2022 it announced that it would purchase at least 50,000 Lucid EVs over the next ten years with the option to buy an additional 50,000 over the same period. In addition, Lucid is currently building a new manufacturing factory in King Abdullah Economic City in Saudi Arabia that will re-assemble Air models pre-built at its facility in Casa Grande, Arizona.
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