Lucid to Start Car Production in Saudi Arabia in 2026

Lucid Group Inc. is on track with plans to start producing cars in Saudi Arabia as it looks to drive the kingdom’s ambitions to create a domestic auto manufacturing hub and cut down on imports.

The EV maker, which counts Saudi Arabia’s $1 trillion sovereign wealth fund as its top shareholder, plans to move from assembly to full-scale vehicle manufacturing by year-end at a new facility near Jeddah on the Red Sea, according to Interim Chief Executive Officer Marc Winterhoff.