Intention to move the US "Lucid Motors" cars production plants to Saudi Arabia

[The SC]

Al-Eqtisadiya learned from informed sources that the National Industries and Logistics Program, in cooperation with the Public Investment Fund, is studying the transfer of the factories of the American automobile company "Lucid Motors" specialized in the manufacture of electric cars to the Kingdom.

In September last year, the Public Investment Fund (PIF) announced the signing of an investment agreement of more than US $ 1 billion (equivalent to Rls 3.75 billion) with Lucid Motors through a wholly-owned entity that is wholly owned by the Fund.

The commercial launch of the company's first electric vehicle is expected in 2020. The company's vision, based in Silicon Valley, is to support the global drive to adopt sustainable energy by manufacturing sophisticated electric vehicles.

The sources told Al-Eqtisadiya that the move of the company's plants to Saudi Arabia aims to develop the infrastructure of the automotive industry in the Kingdom.

Lucid and the Investment Fund share a vision to establish a world-class luxury electric car manufacturer and will continue to work together to implement an effective strategy that will enable the company to launch its electric vehicles in the market as soon as possible, in light of the rapid changes in the automotive market on the global level.


http://www.aleqt.com/2019/05/18/article_1601546.html#.XOAQHizkTfU.twitter

 

[Wilhelm II]

Al-Eqtisadiya learned from informed sources that the National Industries and Logistics Program, in cooperation with the Public Investment Fund, is studying the transfer of the factories of the American automobile company "Lucid Motors" specialized in the manufacture of electric cars to the Kingdom.

In September last year, the Public Investment Fund (PIF) announced the signing of an investment agreement of more than US $ 1 billion (equivalent to Rls 3.75 billion) with Lucid Motors through a wholly-owned entity that is wholly owned by the Fund.

The commercial launch of the company's first electric vehicle is expected in 2020. The company's vision, based in Silicon Valley, is to support the global drive to adopt sustainable energy by manufacturing sophisticated electric vehicles.

The sources told Al-Eqtisadiya that the move of the company's plants to Saudi Arabia aims to develop the infrastructure of the automotive industry in the Kingdom.

Lucid and the Investment Fund share a vision to establish a world-class luxury electric car manufacturer and will continue to work together to implement an effective strategy that will enable the company to launch its electric vehicles in the market as soon as possible, in light of the rapid changes in the automotive market on the global level.


http://www.aleqt.com/2019/05/18/article_1601546.html#.XOAQHizkTfU.twitter

good design I like it

 

[The SC]

good design I like it

Yes good aerodynamics gives it nice aesthetics.. and more important is the full TOT to Saudi Arabia..

 

[Wilhelm II]

Yes good aerodynamics gives it nice aesthetics.. and more important is the full TOT to Saudi Arabia..

Yyyyyeeeeessss tot I love this word

 

[The SC]

Yyyyyeeeeessss tot I love this word

Of course.. it is FULL TOT of electric cars; body, engine, batteries, and the charging stations...etc..the full industry..