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Lucid Group Plans Electric Vehicle Plant in Saudi Arabia

1/20/2026

22 4 Full Breakdown

Summary

Story summary

Lucid Group, Inc. will open a full-scale electric vehicle plant in King Abdullah Economic City, Saudi Arabia, in 2026.
The facility targets 150,000 vehicles annually by 2029 and will locally produce car bodies and battery packs.
The Saudi Public Investment Fund (PIF), which holds over 50% of Lucid, backs the expansion.

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Story summary

Lucid Group, Inc. will open a full-scale electric vehicle plant in King Abdullah Economic City, Saudi Arabia, in 2026.
The facility targets 150,000 vehicles annually by 2029 and will locally produce car bodies and battery packs.
The Saudi Public Investment Fund (PIF), which holds over 50% of Lucid, backs the expansion.