Riyadh, September 29, 2023, Saudi Arabia is determined to establish itself as a major player in the global electric vehicle (EV) and battery manufacturing industry, according to Minister of Industry and Mineral Resources Bandar Al-Khorayef. He made these remarks during the opening of Lucid Motors' first EV manufacturing plant in Saudi Arabia, located in King Abdullah Economic City (KAEC) in Rabigh governorate. The plant's inauguration underscores the successful execution of the National Industrial Strategy (NIS) and the country's commitment to fostering a competitive and sustainable industrial economy, led by the private sector. The EV sector is one of the NIS's 12 strategic industrial sectors aimed at bolstering industry growth across Saudi Arabia. Minister Al-Khorayef emphasized that Saudi Arabia is not merely constructing another vehicle manufacturing facility but is investing in the future through technology and innovation, with the goal of becoming a global player in the EV industry and related products. The Lucid Motors plant inauguration also reflects the Kingdom's dedication to clean energy and the green economy, contributing to a thriving investment ecosystem across various sectors. Lucid Group's decision to establish its Middle East manufacturing base in Saudi Arabia underscores the nation's strategic geographical importance. This move will enable Lucid Group to direct 85% of its production toward global export markets. Minister Al-Khorayef highlighted the opportunities in the automobile industry and the ministry's efforts to attract top-tier suppliers to strengthen the Kingdom's industrial sector.
