Saudi Arabia a world leader in electric vehicle market: minister
Saudi Arabia aims to become a global player in manufacturing electric vehicles (EVs) and related products, including electric batteries, said Minister of Industry and Mineral Resources Bandar Al Khorayef.
The minister made the remarks during the inauguration of Lucid Motor’s first EV manufacturing plant in Saudi Arabia, located in King Abdullah Economic City (KAEC) in Rabigh governorate.
The inauguration of Lucid Motor’s plant confirms the sound implementation of the National Industrial Strategy (NIS) and its seriousness in establishing a flexible, competitive, and sustainable industrial economy led by the private sector, Al Khorayef said.
Electric vehicles in Saudi Arabia
The EV industry is one of 12 strategic industrial sectors covered by the NIS to boost the growth of industry across the Kingdom, the minister said.
The mission today is not just about building another vehicle manufacturing facility, but rather betting on the future through technology and innovation and striving for the Kingdom to become a global player in the industry of EV and related products, Al Khorayef stated.
The inauguration of Lucid Motor’s EV manufacturing plant confirms the Kingdom’s commitment to the investment in clean energy and the green economy, the minister said.
He added that the Kingdom will witness a vibrant ecosystem for investment in various sectors.
Lucid Group’s choice of Saudi Arabia as the headquarters of its manufacturing plant in the Middle East reflects the importance of the Kingdom’s strategic and unique geographical location, the minister said.
This will contribute to achieving Lucid Group’s goals by directing 85 per cent of its production to global export markets, he added.
Al Khorayef highlighted the opportunities provided by the automobile industry, noting that the ministry works closely to ensure attracting the best tier 1 and tier 2 suppliers to empower the industrial sector in the Kingdom.
