Electric vehicle manufacturer Lucid Motors is generating significant interest as it prepares to launch its first models in the UAE. Backed by Saudi Arabia’s Public Investment Fund (PIF), which holds a 60% stake in the company, Lucid has been intensifying its operations in the Middle East. This expansion includes the opening of a service center in Dubai Investment Park and a studio in Abu Dhabi, aiming to capture a larger share of the growing regional EV market.
The company, already delivering over 1,000 vehicles annually in Saudi Arabia, has seen its revenue share from the Middle East surge to 20% this year. Lucid is capitalizing on its advanced production facility in Saudi Arabia, which began operations last year and has an annual capacity of 5,000 vehicles. It plans to produce its upcoming mid-sized model largely within the kingdom, alongside the flagship Lucid Gravity SUV. These developments position Lucid as a key player in making premium electric vehicles more accessible.
In addition to its UAE-focused projects, Lucid has announced an ambitious roadmap for 2026, with plans to diversify its lineup to include more affordable options. This strategy marks a shift from its initial high-end models, such as the Lucid Air, as the company strives to expand its appeal in a competitive EV market.
