Lucid Motors In Talks To Build Saudi Arabian Assembly Plant

Lucid Motors In Talks To Build Saudi Arabian Assembly Plant
 
Lucid Motors Inc. is in talks with Saudi Arabia’s sovereign wealth fund to build an electric vehicle factory potentially near the Red Sea city of Jeddah, according to people familiar with the matter.

The move would mark a significant expansion for Newark, Calif.,-based Lucid. Saudi Arabia is trying to become a Middle Eastern hub for manufacturing EVs as it diversifies its economy from oil.


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