This USBased EV Maker Just Opened a Factory in Saudi Arabia

Saudi-based Lucid Motors, holding a 60% stake in the company, will fulfill a 100,000-unit order with its Saudi-built models. Lucid Motors competes with Tesla in the EV segment, focusing on engineering and luxury. However, price has been a challenge, leading to two price slashes in 2023 and laying off 18% of its workforce. Despite these setbacks, Lucid plans to launch its Gravity SUV and open a new plant in Saudi Arabia to meet production demands and contribute to Saudi Arabia's Vision 2030 initiative.

Source: Link

Frequently Asked Questions (FAQ)

Q: Which US-based electric vehicle maker recently opened a factory in Saudi Arabia?

A: Lucid Motors is the US-based electric vehicle maker that recently opened a factory in Saudi Arabia. Source