Saudi Arabia to produce, export 150,000 electric cars in 2026
October 20, 2022, 11:30 am

Saudi Arabia to produce, export 150,000 electric cars in 2026 - Photo. Pixabay

Abdullah Al-Swaha, Minister of Communications and Information Technology, said on Wednesday (Oct 19) that Saudi Arabia will manufacture and export more than 150,000 electric cars in 2026, according to a report in Saudi Gazette.

The US electric vehicle giant Lucid Motors Company aims to produce 150,000 electric cars annually in Saudi Arabia by 2027, he pointed out.

Peter Rawlinson, CEO and Chief Technology Officer of Lucid, said earlier that the EV giant intends to start building a factory very soon in Saudi Arabia. “We plan to start manufacturing cars in 2025 and we will increase production in 2026 and 2027 to reach 150,000 cars annually,” he said.

Lucid Motors started construction work of its first overseas electric vehicle factory in Saudi Arabia, Minister of Investment Khalid Al-Falih said in May this year.

The plant will be one of three assembly centers for the California-headquartered electric vehicle maker, 61 percent of which is owned by Saudi Arabia’s Public Investment Fund (PIF).

Al Qurayyah beach in Khobar, Saudi Arabia (Pixabay)

Lucid, which is setting new standards with the longest-range, fastest-charging electric car on the market, announced in March a $30 million lease agreement with developer Emaar Economic City for a plot of industrial land in the King Abdullah Economic City in Rabigh.

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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 10 years.

Investment in the company is part of a wider drive to diversify the country’s economy away from oil as part of its Vision 2030 plans. One ambitious aim of the plan is to have at least 30 percent of the vehicles in the capital Riyadh operate on electric power by the turn of the decade.

Triples output in third quarter

On October12, 2022, the electric vehicle maker announced in California preliminary production and delivery totals for the quarter ended September 30, 2022.

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The company produced 2,282 vehicles during Q3 at its manufacturing facility in Arizona, more than tripling the number produced in Q2, and delivered 1,398 vehicles during the same period.

These figures remain in line with the company’s expectations, and Lucid believes it is on track to deliver on its previously provided 6,000 to 7,000 vehicle production guidance for full year 2022.

Source: alarabiya

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”