Lucid Group eyes manufacturing in Saudi Arabia as early as 2025
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Lucid Group (LCID
-0.1%) plans to have an electric vehicle factory in Saudi Arabia by 2025 or 2026, according to Chairman Andrew Liveris. The site being considered is believed to be Jedda, which is located near the Red Sea.

Liveris told Bloomberg TV that specifics on ownership percentages for Lucid and partners on the project are still being worked out.
The Saudi Public Investment Fund is the largest shareholder in LCID.
Shares of Lucid are lower on a mixed day overall for the EV sector with China-related names outperforming startups. Hyzon Motors is the biggest decliner after it disclosed a SEC subpoena.