Lucid Grouping Makes History Inward Saudi Arabia Every Bit It Opens State'Second Commencement-Always Car Manufacturing Facility
Lucid Group, Inc. (NASDAQ: LCID), setting novel standards for the luxury electrical experience amongst the Lucid Air, winner of the 2023 World Luxury Car Award, has officially open the commencement-always car manufacturing facility inwards Saudi Arabia. As Lucid'second minute Advanced Manufacturing Plant (AMP-two) as well as first international establish, the facility will make Lucid'sec groundbreaking electrical vehicles for Saudi Arabia as well as export to other markets.
The AMP-ii facility received significant support from the Ministry of Investment of Saudi Arabia (MISA), the Saudi Industrial Development Fund (SIDF), as well as the Economic City at King Abdullah Economic City (KAEC) in addition to will play a pivotal part in accelerating Kingdom of Saudi Arabia'second strategic destination to diversify its economic system. Through the evolution of electrical transport, Lucid volition support the Saudi Green Initiative's imperative to ensure xxx% of novel motorcar sales inwards the Kingdom are electric by 2030.
The AMP-two facility has begun semi knocked-downwardly (SKD) assembly in addition to is expected to take an annual capacity of five,000 cars. The initial functioning re-assembles Lucid Air vehicle 'kits' that are pre-manufactured at the companionship'sec U.southward. AMP-ane Manufacturing Facility in Casa Grande, Arizona. Lucid aims to transition AMP-2 to consummate make unit of measurement (CBU) product after the middle of the decade, alongside an additional annual capacity of 150,000 cars.
AMP-two will live a driving forcefulness for design in addition to chore creation, championing dwelling house-grown Saudi talent in addition to providing practiced skill evolution preparation. Through an understanding amongst Human Resources Development Fund (HRDF), Lucid expects to utilize hundreds of Saudi nationals inwards the showtime few years together with eventually, grow the workforce into the thousands. In occupation with Vision 2030, Lucid together with HRDF's investment aims to attract, train, too retain talent to construct a robust, skilled, as well as localized workforce.
The plant'second strategic location nearly Jeddah will as well human activity equally a catalyst to farther grow in addition to expand the newly established domestic provide chain, creating involve for local suppliers and fostering long-term increment. Jeddah'sec place on the Kingdom'second Red Sea coast already offers robust supply chain access by state together with ocean as well as enables Lucid to export its finished luxury electrical vehicles to other regions inwards the future.
Lucid'sec AMP-2 facility officially open at a high-profile VIP issue inward the presence of H.eastward. Yasir O. Al-Rumayyan, Governor of the Public Investment Fund of Kingdom of Saudi Arabia; Lucid Group Chairman of the Board, Turqi Alnowaiser; Lucid Group CEO too CTO, Peter Rawlinson; together with Lucid Group Vice President and Managing Director Middle East, Faisal Sultan; amongst ministers and dignitaries from many esteemed organizations. We likewise delivered Lucid Airs to a pick out group of customers at the issue.
SOURCE Lucid Group
The AMP-ii facility received significant support from the Ministry of Investment of Saudi Arabia (MISA), the Saudi Industrial Development Fund (SIDF), as well as the Economic City at King Abdullah Economic City (KAEC) in addition to will play a pivotal part in accelerating Kingdom of Saudi Arabia'second strategic destination to diversify its economic system. Through the evolution of electrical transport, Lucid volition support the Saudi Green Initiative's imperative to ensure xxx% of novel motorcar sales inwards the Kingdom are electric by 2030.
"We are delighted to brand history today inwards Kingdom of Saudi Arabia past opening the land'sec beginning car manufacturing facility, which volition produce our award-winning electric vehicles too back up the state'sec vision for a more sustainable and diversified economy," said Peter Rawlinson, CEO too CTO, Lucid Group. "As Saudi charges toward its Vision 2030, our facility will pave the way for the state'sec electric automotive industry as well as the expansion of the furnish chain, in addition to amongst the back up of the Saudi Government, nosotros are proud to movement local talent development inward the engineering manufacture. We await frontward to delivering Saudi-assembled cars to customers inward Saudi Arabia as well as beyond."
The AMP-two facility has begun semi knocked-downwardly (SKD) assembly in addition to is expected to take an annual capacity of five,000 cars. The initial functioning re-assembles Lucid Air vehicle 'kits' that are pre-manufactured at the companionship'sec U.southward. AMP-ane Manufacturing Facility in Casa Grande, Arizona. Lucid aims to transition AMP-2 to consummate make unit of measurement (CBU) product after the middle of the decade, alongside an additional annual capacity of 150,000 cars.
AMP-two will live a driving forcefulness for design in addition to chore creation, championing dwelling house-grown Saudi talent in addition to providing practiced skill evolution preparation. Through an understanding amongst Human Resources Development Fund (HRDF), Lucid expects to utilize hundreds of Saudi nationals inwards the showtime few years together with eventually, grow the workforce into the thousands. In occupation with Vision 2030, Lucid together with HRDF's investment aims to attract, train, too retain talent to construct a robust, skilled, as well as localized workforce.
The plant'second strategic location nearly Jeddah will as well human activity equally a catalyst to farther grow in addition to expand the newly established domestic provide chain, creating involve for local suppliers and fostering long-term increment. Jeddah'sec place on the Kingdom'second Red Sea coast already offers robust supply chain access by state together with ocean as well as enables Lucid to export its finished luxury electrical vehicles to other regions inwards the future.
"Today is a proud minute for all of us at Lucid equally nosotros play a part inward Saudi Arabia'sec history and make long-term economical value for the state. Earlier this yr, we were thrilled to innovate the starting time in addition to near advanced electrical vehicle, the Lucid Air, to the Saudi Arabia market," said Faisal Sultan, Vice President together with Managing Director Middle East, Lucid Group. "The opening of our facility today marks the start of our product operations to gather our globe course Lucid Air. AMP-ii inwards KAEC, inwards add-on to our existing AMP-ane facility inwards Arizona, gives us the power to efficiently fulfill the latterly signed understanding amongst the regime of Saudi Arabia to purchase upwardly to 100,000 vehicles over a ten-yr menstruation, with an initial commitment to buy fifty,000 vehicles in addition to an choice to purchase up to an additional 50,000 vehicles over the same catamenia."
Lucid'sec AMP-2 facility officially open at a high-profile VIP issue inward the presence of H.eastward. Yasir O. Al-Rumayyan, Governor of the Public Investment Fund of Kingdom of Saudi Arabia; Lucid Group Chairman of the Board, Turqi Alnowaiser; Lucid Group CEO too CTO, Peter Rawlinson; together with Lucid Group Vice President and Managing Director Middle East, Faisal Sultan; amongst ministers and dignitaries from many esteemed organizations. We likewise delivered Lucid Airs to a pick out group of customers at the issue.
SOURCE Lucid Group
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