Saudi Arabia signs an agreement with Lucid for the purchase of approximately 100,000 auto electric

The Government of the Kingdom of Saudi Arabia has announced the conclusion of an agreement with Lucid Company to purchase electric vehicles with a minimum of 50,000 vehicles and a maximum of 100,000 vehicles within ten years; With the aim of diversifying its fleet of vehicles while respecting the environment.

This agreement is an important step in in line with the achievement of the goals of the Kingdom Vision 2030, which seeks to carry out far-reaching reforms in the economy, society, quality of life, diversify the Kingdom’s economy and build new sectors that fit with the future and create opportunities work for citizens.

The deal is also in line with the Green Saudi Initiative and the Green Middle East Initiative, previously announced by Crown Prince, Deputy Prime Minister and Chairman of the Council for Economic Affairs and Development, Prince Mohammed bin Salman, as well as reflecting the government’s efforts to diversify its fleet in order to reduce carbon emissions and encourage the use of sustainable transport.

The choice of the Kingdom of Lucid Company, which intends to establish a factory in Saudi Arabia to assemble vehicles, which will pass over time to full production, to support the local contentwhich will help diversify the economy and get returns in line with Vision 2030, as well as making the Kingdom a major regional and global industry center for the next generation. Coming from auto electric, Lucid aims to produce up to 150,000 auto per year.

By purchasing these vehicles, the Government of the Kingdom aims to diversify the technologies used in the field of private transport as part of its efforts to develop vehicle emission management technologies, which include, but are not limited to: the production of electric vehicles using the modern technologies, programs for the development of advanced low-emission fuels and the testing and development of vehicles. Hydrogen cell vehicle technologies.

The conclusion of this agreement by the Kingdom has taken place in one moment in which the world is seeing a dramatic increase in demand for auto electric, and many other governments are requesting this type. The agreement also represents an opportunity for the Kingdom to work with Lucid to develop new models and vehicles to suit the needs of the government fleet.

Read More About: Business News