Electric vehicle manufacturer Lucid Group Inc. has announced an agreement with the government of Saudi Arabia under which the government will purchase up to 100,000 vehicles over a 10-year period, with an initial commitment to purchase 50,000 vehicles and an option to purchase up to an additional 50,000 vehicles over the same period.

As part of the agreement, the government of Saudi Arabia has pledged to purchase vehicles, including Lucid Air and other future models, built and assembled at Lucid’s existing Arizona factory and its future international manufacturing facility in Saudi Arabia. The order quantity is expected to be 1,000 to 2,000 vehicles annually, increasing to 4,000 to 7,000 vehicles annually starting in 2025, with the delivery of the vehicles required to start no later than Q2 2023.

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