Lucid Group, Inc. announced opening of its first studio in the Middle East, in Riyadh, Saudi Arabia, as per PR Newswire.
Saudi Arabia’s Public Investment Fund (PIF), the country’s sovereign wealth fund, owns 61% of Lucid Group, which follows a $1 billion investment in the company in 2018.
Advanced Manufacturing Plant #2 (AMP-2)
The company has allotted $3.4 billion in funding and incentives from Saudi Arabia for the new site, which will be called AMP-2 (Advanced Manufacturing Plant #2), and will have 155,000 EVcapacity a year.
The luxury retail space will invite customers to experience the brand and its products in Riyadh’s Al Nakheel District. With a direct-to-consumer (DTC) model, every Lucid Studio provides a digitally oriented premium experience modified to each customer’s preferences, whether they will visit in person, make inquiries entirely online, or both.
In addition, the Government of Saudi Arabia has promised to buy up to 100,000 Lucid vehicles over ten years, according to InsideEVs.
“The launch of our first Studio in the Middle East marks yet another step towards Lucid’s mission to inspire the adoption of sustainable energy on a global scale, and I’m delighted this brand-new studio is set to open here in Saudi Arabia,” said Lucid’s CEO and CTO Peter Rawlinson.
“Saudi Arabia recognizes the seismic transition toward automobile electrification and it looks to the future to secure a better world for generations to come with Saudi Vision 2030.”
Lucid’s Riyadh Studio will let customers experience the brand and gain information about its products in a place that underscores the company’s unique design aesthetic.
Furthermore, visitors will get a vision of how the company receives inspiration from the beauty, diversity, and innovation of its home, California.
“We are incredibly excited to be celebrating this milestone today, opening our Studio in Riyadh is another positive step of our journey in Saudi Arabia,” stated Faisal Sultan, Vice President and Managing Director of Lucid Middle East.
He added, “Our in-depth knowledge of the region and our strategic partnerships enable us to deliver products catered to our customer base in the Middle East, and we’re delighted to be able to meet their growing demands for electric cars in our journey to combat climate change.”
Lucid Air deliveries in the Middle East are expected to start before the end of 2022, supported by the Casa Grande factory in Arizona.
The plant in Saudi Arabia will initially re-assemble Lucid Air vehicle kits that are pre-manufactured at the US AMP-1 manufacturing facility, but over time, AMP-2 will produce complete vehicles.
The vehicles made at AMP-2 will initially be meant for the local market, but the manufacturer plans to export vehicles to other markets globally.
Lucid & Government of Saudi Arabia’s Agreement
The automaker announced an agreement with the Government of Saudi Arabia, of which the Government will buy up to 100,000 vehicles over ten years. It has an initial commitment to purchase about 50,000 vehicles and an option to buy up to an extra 50,000 vehicles in the same period.
In connection, the EV startup stated it had promoted Faisal Sultan to Vice President and Managing Director of Lucid Middle East and reports directly to Peter Rawlinson.
The executive has 23 years of automotive experience with Ford, FCA, Lucid, Industrial Clusters, Magna, and General Motors in Asia, Australia, Europe, and North America.
Moreover, he held leadership positions in engineering, operations, industrial development, manufacturing, and program management.
