PIF-backed Lucid says preparing for 2027 production ramp in Saudi Arabia

Lucid Group, which is backed by the Public Investment Fund, said its factory in Saudi Arabia is transitioning from construction to industrialisation.

Manufacturing systems across stamping, body, paint and final assembly are being installed and commissioned in preparation for production trials at the 1.36 million square meters AMP-2 site in King Abdullah Economic City (KAEC), the EV maker said in its second-quarter 2026 financial statement.

Lucid is preparing for the 2027 production ramp, with hiring underway and headcount increasing at AMP 2.

In addition, the company is partnering with Saudi authorities to advance infrastructure — roads, water, power, and telecommunications, the statement said.

In April, Lucid said construction of our CBU (complete build unit) factory is on track to be completed by the end of 2026, with a designed capacity to scale to 150,000 EVs annually.