Lucid Partners With Saudi Arabia to Boost EV Technology

Published 44 minutes agoLCID

Lucid Partners With Saudi Arabia to Boost EV Technology

Lucid Group has announced a strategic partnership with Saudi Arabia's King Abdulaziz City for Science and Technology (KACST) aimed at advancing electric vehicle (EV) technology in the Kingdom. This collaboration emphasizes joint research into advanced battery technologies, materials, aerodynamics, and autonomous driving, alongside artificial intelligence applications. A significant focus of this initiative will be ensuring EV performance is well-suited for Saudi Arabia's distinct climatic conditions.

Central to this partnership will be the establishment of a new research and development headquarters situated at KACST's national laboratories, which is expected to become operational by the third quarter of 2024. This collaboration aligns with Saudi Vision 2030, a comprehensive plan to diversify the nation's economy and foster sustainable transportation solutions, reflecting the shared commitment to sustainability and innovation.

Lucid's drive into the Saudi market is part of a broader strategy to establish itself in the region's burgeoning EV sector. Reuters reported that the luxury EV maker is bolstering its financial foundation with a planned $1 billion capital infusion from an affiliate of Saudi's Public Investment Fund (PIF). As Lucid doubles down on production and operational targets, these efforts demonstrate the brand's commitment to significantly contributing to Saudi Arabia's sustainable development goals and expanding its influence in the global electric vehicle arena.

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Lucid Partners With Saudi Arabia to Boost EV Technology

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