Jeddah - In a momentous move aimed at fostering a more varied transportation sector and accelerating the achievement of Vision 2030's goals, the Economic Cities and Special Zones Authority (ECZA) has granted Lucid an operational permit for its manufacturing facility located within King Abdullah Economic City (KAEC). In a well-orchestrated ceremony held at the ECZA office in KAEC, the permit was officially bestowed upon the deserving recipient. The proceedings began with a stirring rendition of the national anthem of Saudi Arabia. On this momentous occasion for the Kingdom, Nabil Khojah, the Secretary-General of ECZA, took to the stage to deliver a keynote speech that underscored the immense significance of this milestone. With unwavering determination, the Kingdom has demonstrated its steadfast commitment to diversification, a crucial endeavor for its future prosperity. In a captivating display following the keynote address, Lucid took the opportunity to present a concise yet impactful video highlighting their groundbreaking projects, cutting-edge innovations, and significant contributions to the ever-evolving e-vehicle industry. This visual masterpiece provided attendees with an immersive glimpse into the remarkable achievements of Lucid, leaving a lasting impression on all who witnessed it.
Faisal Sultan, the esteemed Vice President and Middle East Managing Director of Lucid, graced the stage with his presence to convey the company's profound joy upon obtaining the official permit. With eloquence and passion, he proceeded to elucidate Lucid's grand vision for the facility. In a recent interview, Cyril Piaia, the esteemed CEO of Emaar, The Economic City, shed light on the profound significance of this facility in driving the economic growth of KAEC's special economic zones (SEZ). In a momentous conclusion to the event, Lucid's Senior Vice President of Operations, Steven David, took the stage to deliver his closing remarks. With an air of determination and optimism, David underscored the significance of the collaborative journey that lies ahead for Lucid. He left no doubt about the company's ambitious goals and the profound impact they aspire to have in the automotive industry. In a statement regarding the significant development, Khojah expressed his thoughts on the matter, emphasizing the establishment of a cutting-edge e-vehicle manufacturing facility within the KAEC SEZ. He highlighted the remarkable efficiency, capabilities, and strengths exhibited by the SEZs in the Kingdom, as this achievement was accomplished within a remarkably short timeframe. The successful government partnership and cooperation have yielded fruitful results, overseen by the efficient management of ECZA, the regulatory umbrella for Saudi Special Economic Zones (SEZs). The success story is a clear reflection of Saudi Arabia's thriving business ecosystem and unwavering commitment to fostering investor confidence. In a groundbreaking development, a significant stride has been made today towards the realization of a futuristic transportation landscape. This momentous achievement not only aims to curb emissions but also advocates for a cleaner and more sustainable mode of mobility.
In an official statement, Lucid's CEO, Faisal Sultan, expressed his delight upon receiving the long-awaited permit for the AMP-2 facility in KAEC. In a groundbreaking development, the Kingdom is all set to witness the establishment of its inaugural e-vehicle manufacturing facility. This momentous occasion also marks Lucid's maiden international plant as the renowned company ventures into new territory. With this state-of-the-art facility, the automotive industry is poised for a paradigm shift as it sets a new benchmark for excellence. Moreover, the Saudi Arabian market is in for a revolutionary transformation as it gains access to cutting-edge e-vehicles that are proudly assembled within the nation's borders. In our pursuit of Vision 2030 and the establishment of a sustainable and diversified economy, there is great anticipation for the influx, development, and retention of a fresh cohort of automotive professionals.
In a recent statement, Piaia, the representative of Emaar, The Economic City (EC), the master developer of King Abdullah Economic City (KAEC), expressed gratitude towards the Economic Cities Authority (ECZA) for their unwavering support. Piaia acknowledged that the creation of a business-friendly environment by ECZA has played a pivotal role in the remarkable success of KAEC. This advantageous setting has not only contributed to the city's prosperity but has also served as a compelling magnet for significant investments. Lucid's inauguration of its new manufacturing facility at KAEC has brought about great delight among stakeholders. Lucid, a renowned global leader in the development and production of e-vehicles, choosing to establish a presence in the newly unveiled KAEC SEZ speaks volumes about the exceptional quality of our infrastructure, the strategic advantage of our well-connected location, and KAEC's unwavering commitment to facilitating investor success. Lucid's significant contribution towards the realization of our ambition to establish ourselves as the premier automotive hub in the area is a matter of great assurance. Not only will it bolster the local economy, but it will also generate employment opportunities, foster technological progress, and entice fresh investments to KAEC."
Lucid, the groundbreaking American e-vehicle company known for its use of cutting-edge and environmentally friendly technologies in the production of high-end automobiles, has achieved a significant feat with the launch of its production unit in Saudi Arabia. This development signifies a crucial turning point in the country's ambitious endeavor to establish itself as a prominent player in the global e-vehicle manufacturing industry. In a remarkable feat of engineering, a state-of-the-art facility has emerged, covering an impressive expanse of over 1.35 million square meters. This colossal structure now stands proudly, occupying approximately 31% of the total area designated for the automotive industry within the KAEC SEZ's auto hub.
Saudi Arabia has taken a significant step towards diversifying its national automobile sector by granting early construction permits for the Lucid plant in the KAEC SEZ. This move, which took place in August 2022, marks a pivotal moment in the country's efforts to expand its automotive industry. In an impressive display of efficiency, ECZA has successfully delivered the operating permit for the plant, signaling its preparedness for full-scale commercial operations in a remarkably short span of one year. The achievement signifies the nation's resolute dedication to diversify its economy and achieve the ambitious Vision 2030 objective of having 30% of vehicles in Riyadh run on electricity.
In a move set to revolutionize the national automobile industry, a powerful partnership between the trio is on the horizon. With a focus on fostering innovation, stimulating economic growth, and driving sustainable development, this collaboration is poised to bring about a modernization like never before seen in the Kingdom.
