Transfer agency website Bloomberg “Now that we have succeeded in producing and selling electric cars in the United States, our attention turns to building a factory here,” Andrew Liveris, the chairman of the American company’s board of directors, said during his participation in a mining conference in Riyadh.
The details that are being discussed with the competent authorities will include the percentage of ownership of the company to Losid Group and its partners in the project.
Informed sources said earlier this year that the company was in talks with the Saudi sovereign wealth fund to build a factory for electric vehicles near the city of Jeddah on the Red Sea.
The knowledgeable people, who spoke on condition of anonymity, said that the $360 billion Public Investment Fund is already a shareholder in Lucid, and therefore this will save a lot of money that will be spent on the factory that will be established in King Abdullah Economic City.
Other sources indicated that the Public Investment Fund and Lucid might consider building the plant at another site in Neom, a new city being developed in northwest Saudi Arabia.
The New York, California-based company’s goal for 2021 was to deliver 577 vehicles to customers, of which 520 were first Dream Edition units, and the remainder was a lower-spec Grand Touring version.
“We’re going to have a lot to say to the market about the kinds of products we see in the supply chain,” Liveris said.
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