Does the Kingdom Manufacture Electric Vehicles?
Yes, the Kingdom of Saudi Arabia manufactures electric vehicles. Since the Kingdom began investing in electric vehicles through the Public Investment Fund (PIF) in 2018, an agreement was made to establish a local company for manufacturing electric vehicles in King Abdullah Economic City in Jeddah, concurrently with the PIF investing over USD1 billion in Lucid Motors, a company specializing in electric vehicle manufacturing.
The construction of the factory began on May 18, 2022. The production capacity of the factory has been set to reach 155,000 cars annually, with investments exceeding SAR12.3 billion. The company has initiated the production of four types of electric vehicles, with the Kingdom boasting two types exclusive to its factory. The factory is expected to reach its full capacity by 2028 and will export about 95 percent of its production, thereby boosting the Saudi economy.
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