Lucid Motors, the US-based electric vehicle company, is significantly expanding its manufacturing capabilities with the enhancement of its plant in Saudi Arabia. This facility, known as AMP-2, represents the company’s first manufacturing endeavour outside the United States and underscores the growing demand and strategic importance of the Middle Eastern market.
Operational Details of AMP-2
Operational since September, the AMP-2 plant initially focused on the semi knocked-down (SKD) assembly process. This involves reassembling Lucid Air vehicle kits that are pre-manufactured at Lucid’s primary facility in Arizona. The plant currently has an annual capacity to assemble 5,000 vehicles.
Expansion Plans for AMP-2
Faisal Sultan, Lucid’s Vice President and Managing Director for the Middle East region, disclosed in an interview with local media outlet Argaam that construction is ongoing to add seven to eight additional buildings to the existing assembly plant. These expansions are aimed at bolstering the facility’s capacity and versatility, enabling it to better serve both the local Saudi market and the broader export market.
The Lucid manufacturing plant in Saudi Arabia.
Retail Presence in the Middle East
In addition to ramping up its manufacturing capacity, Lucid Motors is also growing its retail presence in the Middle East. The company recently inaugurated a showroom at City Walk in Dubai, enhancing its visibility in a key market. This new showroom follows the opening of the Riyadh Studio in late 2022, Lucid’s first retail location in the Middle Eastern region, indicating the company’s aggressive strategy to increase its market penetration.
New Product Announcement
Peter Rawlinson, CEO of Lucid Motors, has also announced that the company is on the verge of unveiling a new product that will deliver an impressive efficiency of 5 miles per kWh. This anticipated announcement is expected to further solidify Lucid’s reputation for innovation and performance in the competitive EV market.
Financial Performance
Lucid Motors also reported positive financial performance, delivering 2,394 vehicles in the second quarter of the year and producing 2,110 units. These figures surpassed expectations set by Wall Street analysts. The company has scheduled a conference call on August 5 at 5:30 pm Eastern Time to discuss its second quarter 2024 financial results, following the release of its Q2 report.
Sales of Lucid Cars in Saudi Arabia
Lucid Motors has begun delivering its luxury electric vehicles to customers in Saudi Arabia. The company’s initial focus is on the local market, with plans to expand to other Middle Eastern countries and eventually to global markets.
While exact sales projections for Lucid Motors in Saudi Arabia are not publicly disclosed, the company’s aggressive expansion plans and growing retail presence suggest a strong commitment to the market.
The Lucid Air Touring photographed in San Francisco.
