Saudi Arabia seeks to become a global player in manufacturing electric vehicles (EV) and the related products, such as electric batteries, SPA quoted Minister of Industry and Mineral Resources, Bandar Alkhorayef, as saying at the opening ceremony of Lucid Group’s factory.
The inauguration of Lucid Motor’s plant confirms the sound implementation of the National Industrial Strategy (NIS) and its seriousness in establishing a flexible, competitive, and sustainable industrial economy led by the private sector.
The EV industry is one of 12 strategic industrial sectors covered by the NIS to boost the growth of industry across the Kingdom, the minister added.
The inauguration of Lucid’s factory confirms the Kingdom’s commitment to invest in clean energy and green economy. Lucid’s selection of the Kingdom as its headquarters in the Middle East underlines the importance of Saudi Arabia’s geographical location, which will help Lucid direct 85% of its production to global export markets.