The Jeddah studio, strategically located in the city’s bustling business district, is designed to showcase Lucid's lineup of electric sedans, with a particular focus on its flagship model, the Lucid Air. Customers can explore the vehicles' features, including their industry-leading range, advanced technology, and luxurious design, in an immersive environment that reflects Lucid’s brand ethos.
Peter Rawlinson, CEO and CTO of Lucid Motors, emphasized the importance of the Middle Eastern market in the company’s global strategy. "The opening of our Jeddah studio is not just an expansion but a deepening of our commitment to bringing sustainable luxury to new regions," he stated, highlighting the region’s role in Lucid’s growth plans.
The studio's opening is part of a broader strategy to establish Lucid as a key player in the EV market across the Middle East, a region that has traditionally relied on fossil fuels but is now investing heavily in renewable energy and sustainability. Saudi Arabia, in particular, has been at the forefront of this shift, with Vision 2030 playing a crucial role in driving the nation's energy transition.
Lucid’s entry into Jeddah is seen as a strategic move, aligning with Saudi Arabia's ambitious plans to reduce its carbon footprint and promote the adoption of electric vehicles. The Kingdom has set ambitious targets for EV adoption, with plans to have electric cars make up 30% of vehicles on the road in Riyadh by 2030. Lucid’s presence in Jeddah, one of the country’s major urban centers, positions the company to play a significant role in this transformation.
The Jeddah studio is expected to serve not only as a sales hub but also as an educational center, where customers can learn about the benefits of EVs and Lucid's cutting-edge technology. This approach is designed to build trust and familiarity with the brand, particularly in a market that is still relatively new to electric vehicles.
Lucid’s expansion in Saudi Arabia is supported by strong financial backing from the Public Investment Fund (PIF), the Kingdom’s sovereign wealth fund, which owns a substantial stake in the company. This partnership has been instrumental in Lucid’s ability to expand its operations in the region. PIF's involvement underscores Saudi Arabia's commitment to diversifying its economy and reducing its dependence on oil revenues.
The opening of the Jeddah studio follows the launch of Lucid’s first Middle Eastern studio in Riyadh last year. With its expansion into Jeddah, Lucid is expected to further strengthen its presence in the region, targeting affluent customers who are increasingly looking for luxury electric vehicles that align with their values of sustainability and innovation.
Lucid's growth in Saudi Arabia comes at a time when the global EV market is experiencing unprecedented growth, driven by increasing environmental awareness, technological advancements, and supportive government policies. The Middle East, and Saudi Arabia in particular, is emerging as a key market for EV manufacturers, with companies like Lucid positioning themselves to take advantage of the growing demand for sustainable transportation options.
As Lucid continues to expand its footprint in the Middle East, the company is likely to face competition from other luxury automakers who are also eyeing the region’s lucrative market. However, with its innovative products, strong financial backing, and strategic partnerships, Lucid is well-positioned to establish itself as a leader in the Middle East’s burgeoning EV sector. The Jeddah studio represents not just an expansion of Lucid’s operations but also a significant milestone in the company’s journey towards making electric vehicles a mainstream choice in the region.