Lucid Motors, a Saudi-owned electric vehicle (EV) company, is gearing up for full production at its Jeddah facility, aiming to produce 150,000 cars annually within three years. This expansion plan was confirmed by Rockwell Automation, Lucid’s robotics supplier.
Initially, the production will serve local markets, but plans are in place to extend distribution across the Middle East and Asia. Ediz Eren, regional vice-president of Rockwell Automation, shared these insights at the Adipec energy exhibition in Abu Dhabi.
Saudi Arabia’s EV Ambitions
Saudi Arabia is striving to transform its transportation sector by promoting EVs. Currently, fewer than 1,000 EVs are on Saudi roads in 2023. Lucid and Ceer, another PIF-backed company, are set to open EV factories to boost local production, although Ceer’s facility is not yet operational.
Rockwell, known for supplying robotics to Tesla, is also competing for a contract with Chinese EV giant BYD for a new factory in Turkey. Despite BYD’s preference for Chinese robotics, Rockwell remains hopeful of securing the deal.
Lucid’s Market and Financial Dynamics
- PIF-backed Lucid shares have seen fluctuations due to anticipated Q3 losses.
- Lucid has exceeded its latest delivery expectations.
- The company plans to commence manufacturing in Saudi Arabia next month.
Rockwell is expanding its presence in Saudi Arabia, collaborating with major state firms like Saudi Electricity, Sabic, Aramco, and the Saudi Water Authority. These partnerships are expected to contribute significantly to Rockwell’s global revenue.
This year, Rockwell secured two contracts with the state-owned miner Ma’aden to install AI systems, enhancing production line efficiency. Eren emphasized the importance of predicting motor breakdowns to optimize energy use and reduce carbon emissions.
Rockwell aims to relocate its regional headquarters to Saudi Arabia to strengthen its position for future contracts. Eren noted, “Saudi is a market poised for significant growth, driven by industrial diversification and digitalization projects.”
