RIYADH — The US electric vehicle (EV) giant Lucid Group Inc. announced the opening of its first Studio in the Middle East, located in Riyadh, on Tuesday. The studio, which was established on the sidelines of the activities of the Future Investment Initiative (FII), is setting new standards with the longest-range, fastest-charging electric car on the market. The luxury retail space will invite customers to experience the brand and its products in the heart of Riyadh's Al Nakheel District. With a direct-to-consumer model, every Lucid Studio offers a digitally oriented premium experience tailored to each customer's preferences, whether they visit in person, make enquiries entirely online, or combine the two, according to a press statement. "The launch of our first Studio in the Middle East marks yet another step towards Lucid's mission to inspire the adoption of sustainable energy on a global scale, and I'm delighted this brand-new studio is set to open here in Saudi Arabia," said Peter Rawlinson, Lucid's CEO and CTO. "Saudi Arabia recognizes the seismic transition toward automobile electrification and it looks to the future to secure a better world for generations to come with Saudi Vision 2030." Lucid's Riyadh Studio will allow customers to fully experience the brand and gain information about its products in a location that underscores the company's unique design aesthetic. Exploring a Lucid Studio, visitors will get a vision of how the company draws inspiration from the beauty, innovation, and diversity of its home, the state of California. "We are incredibly excited to be celebrating this milestone today, opening our Studio in Riyadh is another positive step of our journey in Saudi Arabia," said Vice President and Managing Director of Lucid Middle East Faisal Sultan. "Our in-depth knowledge of the region and our strategic partnerships enable us to deliver products catered to our customer base in the Middle East, and we're delighted to be able to meet their growing demands for electric cars in our journey to combat climate change." Earlier this year, Lucid announced plans for a full production factory at King Abdullah Economic City (KAEC). Lucid plans to establish operations at KAEC for re-assembly of Lucid Air vehicles that are pre-manufactured at the company's U.S. AMP-1 Manufacturing Facility in Casa Grande, Arizona, and, over time, for production of complete vehicles. At its peak, the company expects to manufacture up to 155,000 vehicles per year at the KAEC facility. In April 2022, Lucid announced an agreement with the Saudi government, under which the government will purchase up to 100,000 vehicles over a ten-year period, with an initial commitment to purchase 50,000 vehicles and an option to purchase up to an additional 50,000 vehicles over the same period. Lucid Motors started construction work of its first overseas electric vehicle factory at KAEC in Rabigh. The plant will be one of three assembly centers for the California-headquartered electric vehicle maker, 61 percent of which is owned by Saudi Arabia's Public Investment Fund (PIF). Lucid announced in March a $30 million lease agreement with developer Emaar Economic City for a plot of industrial land in KAEC.
