Lucid To Build A Plant In Saudi Arabia By 2025

Lucid’s stock market shows a decline by 3% to $40.67 in the pre-market trading session, while the previous close was at $42.22. However, on January 12, the price is stunningly jumped to its peak of $47.18 from $40.74. After announcing about negotiating with the Saudi authorities on the construction of a plant for the production of electric vehicles. However, at the beginning of the year, the company announced that it will begin to supply electric cars to Europe. And according to the chairman of the board of directors of the company, Andrew Liveris, noted that cars will be supplied to Europe from Saudi Arabia.


Moreover, it is expected that the construction will be completed by 2025 or 2026. According to unverified information, Lucid will own the company jointly with partners. The main investor of the project will be PIF, which already owns more than 60% of the company’s shares. According to rumors in January last year, the primary contender for the placement of the assembly site was the port city of Jeddah. I also want to note that tomorrow, January 19, the company will publish its earnings for 2021.