Electric Car Company Lucid Motors Enters UAE, Saudi Markets
Saudi-backed Lucid Motors, a rival to Tesla in the electric vehicles market, has announced that it is accepting reservations for its Lucid Air sports sedan in the UAE and Saudi Arabia.
In 2018, Lucid landed a $1 billion investment by Saudi Arabia’s Public Investment Fund, allowing it to get the Air Sedan – its first model – into production. A production version of the Lucid Air is expected this year.
The first deliveries of the vehicle are expected in late 2021.
In a statement, Lucid said that reservation fees set at roughly $1,000 in both the UAE and Saudi Arabia.
The Lucid Air sedan is designed to operate at over 400 miles per charge, alongside up to 1,000 horsepower.
Lucid has already manufactured more than half of the expected 80 beta prototypes at its headquarters in Silicon Valley.
