Saudi Arabia’s electric car plant will be one of three in the Kingdom, the minister said.


Saudi Investment Minister Khalid al-Falih gestures during the opening ceremony of the Future Investment Initiatives meeting in Riyadh, Saudi Arabia, on October 26, 2021. REUTERS/Ahmed Yosri/file photo

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DUBAI, May 25 (Reuters) – The electric vehicle (EV) assembly plant to be built in Saudi Arabia will be one of three in Saudi Arabia, investment Minister Khalid al-Falih said Wednesday.

American electric vehicle maker Lucid Motors, in which Saudi Arabia’s sovereign wealth fund owns more than 60 percent, plans to build its first overseas production plant in Saudi Arabia at the end of this year. The plant is ultimately expected to produce up to 150,000 vehicles per year.

When speaking at the World Economic Forum in Davos, Falih did not elaborate on other potential power plants.

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Report by Yousef Saba Edited by David Goodman

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