Saudi Arabia will manufacture and export more than 150,000 electric cars in 2026, Minister of Communications and Information Technology Abdullah al-Swaha said on Wednesday.
“This was a dream, and it has become a reality under the leadership of the Crown Prince,” al-Swaha said.
For the latest headlines, follow our Google News channel online or via the app.
“In 2026, the Kingdom will manufacture and export more than 150,000 electric car,” al-Swaha said at a session to discuss the National Industrial Strategy which Crown Prince Mohammed bin Salman launched earlier this week.
He added that Saudi Arabia’s investment in Lucid Motors “has placed the Kingdom among developed countries.”
Saudi Arabia’s Public Investment Fund (PIF) owns 61 percent of the California-headquartered electric vehicle maker.
In May, Minister of Investment Khalid Al-Falih announced that construction began on the Lucid Motors electric vehicle factory in Saudi Arabia.
The Saudi government announced in April that it had placed an order for between 50,000 and 100,000 electric vehicles from Lucid within the next ten years.
Saudi government orders up to 100,000 electric vehicles from PIF-owned Lucid
Saudi Arabia aims to raise industrial sector’s contribution to GDP to $240 billion
Saudi Arabia’s Crown Prince launches National Industrial Strategy
Saudi Arabia to start electric-vehicle push in Riyadh: OfficialSaudi Arabia said that at least 30 percent of cars in its capital would be electric by 2030, as the world’s biggest oil exporters seeks to reduce ... Technology
Saudi Arabia’s mining plan gets $3 bln electric vehicles boost from Australian firmAn Australian company plans to invest $3 billion in Saudi Arabia in a bet on the metals used in batteries for electric vehicles.EV Metals Group Plc’s ... Economy
Saudi PIF’s investment in electric vehicle maker Lucid Motors to net $20 bln profitThe investing world’s eyes will be fixated at the payout from the recent electric-vehicle startup boom in North America when Lucid Motors Inc. is set ... Technology