Lucid Group has reportedly began buyer deliveries of the Air luxurious electrical sedan in Saudi Arabia, the house of its largest shareholder.
The announcement was made by Faisal Sultan, Vice President and Managing Director of Lucid Center East, in an interview with Argaam (through Teslarati).
The Lucid Air begins at $117,300 (440,000 Saudi Riyals) in Saudi Arabia for the bottom Pure trim, however costs can go as excessive as $256,000 (960,000 Saudi Riyals) for the limited-run Dream Version range-topper.
Sultan mentioned he expects many Lucid Air EVs to hit the Kingdom’s roads because the EV startup has hundreds of reservations. He famous that Lucid is on monitor to ship lots of automobiles to clients over the approaching months.
The manager added that Lucid is sending lots of of automobiles to Saudi Arabia from its manufacturing unit in Casa Grande, Arizona on a weekly foundation. The automaker’s purpose is to ship hundreds of automobiles, however that is restricted by the variety of automobiles it will possibly ship at a time.
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As you most likely know, Lucid is constructing its second meeting plant – dubbed AMP-2 (Superior Manufacturing Plant #2) – in King Abdullah Financial Metropolis (KAEC) in Saudi Arabia, with the brand new facility anticipated to be able to launch operations within the third or fourth quarter this yr, in response to Sultan.
He famous that the manufacturing unit can have a capability of hundreds of items – a somewhat imprecise goal – and can initially re-assemble Lucid Air car kits which can be pre-manufactured on the US plant so as to speed up the supply tempo and increase provide by year-end.
Sultan additionally mentioned the AMP-2 plant will begin producing full automobiles by 2025 or 2026, at an annual manufacturing capability of 150,000 EVs. The brand new manufacturing unit will primarily cater to the wants of consumers in Saudi Arabia – the federal government ordered 100,000 automobiles final yr – and Gulf Cooperation Council (GCC) international locations.
Talking of Gulf international locations, Lucid plans to open its first showrooms within the United Arab Emirates by the top of the yr.
When Lucid opened its first studio in Riyadh, Saudi Arabia’s capital, in October 2022, it mentioned the primary deliveries had been to observe earlier than the top of the yr. Clearly, that did not occur, but it surely’s higher late than by no means, proper?
The information in regards to the begin of deliveries in Saudi Arabia follows final week’s announcement that Lucid plans to lift about $3 billion by a inventory providing, with practically two-thirds of the cash anticipated to return from its largest shareholder, Saudi Arabia’s Public Funding Fund (PIF).