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Saudi electric vehicle factory likely to be one of three in

by Dubai Forum
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DUBAI: An electric vehicle (EV) assembly plant to be built in Saudi Arabia will likely be one of three in the kingdom, Investment Minister Khalid Al-Falih said on Wednesday.

US electric vehicle maker Lucid Motors, more than 60% owned by Saudi Arabia’s sovereign wealth fund, plans to build its first overseas production plant in Saudi Arabia later this year. The plant is expected to produce up to 150,000 vehicles per year.

Falih, speaking at the World Economic Forum in Davos, gave no details on the other potential power plants.

DF

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