Lucid Motors to Fully Produce Vehicles in Saudi Arabia by 2026 with Local Manufacturing Investment
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 5d ago
0mins
Source: NASDAQ.COM
- Production Capacity Boost: Lucid's Saudi Arabia plant is set to achieve full production by 2026, with plans to ramp up to an annual capacity of 150,000 vehicles by 2029, laying a foundation for the company in the rapidly growing EV market.
- Strategic Investment: The deepening partnership with Saudi Arabia's Public Investment Fund (PIF), which has invested $8 billion since 2018, ensures that Lucid can secure additional capital as needed in the future.
- Market Potential: With low EV penetration in Saudi Arabia, the government's Vision 2030 plan aims to boost non-oil GDP, providing Lucid with an opportunity to enter a new market, although the immediate market value may be limited.
- Competitive Strategy: Unlike Tesla's import strategy in India, Lucid's local manufacturing approach in Saudi Arabia avoids import duties of up to 110%, thereby reducing costs and enhancing brand presence.
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Analyst Views on LCID
Wall Street analysts forecast LCID stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for LCID is 16.73 USD with a low forecast of 10.00 USD and a high forecast of 30.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
12 Analyst Rating
1 Buy
8 Hold
3 Sell
Hold
Current: 11.330
Low
10.00
Averages
16.73
High
30.00
Current: 11.330
Low
10.00
Averages
16.73
High
30.00
About LCID
Lucid Group, Inc. is a technology company, which designs, engineers, and manufactures electric vehicles (EVs), EV powertrains, and battery systems in-house using its own equipment and factories. It sells vehicles directly to consumers through its retail sales network and through direct online sales. Its vehicles include Lucid Air and Lucid Gravity. Lucid Air is an advanced car, featuring powertrain technology. It offers 420 miles of the United States Environmental Protection Agency (EPA)-estimated range, with an 84-kWh battery pack. The Lucid Air Sapphire is the highest-performance version of the Lucid Air, boasting 1,234 horsepower from three motors, 427 miles of an EPA-estimated range (when equipped with standard wheel covers). The Lucid Gravity provides the interior space and practicality of a full-size SUV within the exterior footprint of a mid-size SUV. It provides space for up to seven adults. It has engineered the Lucid Gravity to deliver up to 450 miles of EPA-estimated range.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Lucid Air Grand Touring Sets Longest Range in Winter Test
- Range Milestone: The Lucid Air Grand Touring achieved a record range of 520 kilometers in the NAF Winter Test, surpassing the second-place vehicle's 421 kilometers, solidifying its leadership position in the electric vehicle market under extreme conditions.
- Performance in Extremes: Completing a journey from Oslo to the highlands at temperatures as low as minus 31 degrees Celsius without charging stops, the Lucid Air Grand Touring demonstrates reliability and efficiency in real-world scenarios, enhancing consumer trust in the brand.
- Technological Edge: Featuring an advanced electric powertrain, the vehicle boasts a WLTP range of up to 960 kilometers and a combined consumption of just 13.5 kWh/100 km, showcasing Lucid's leadership in EV technology and likely attracting more high-end consumers.
- Market Impact: The Lucid Air Grand Touring also set a summer test record of 828.6 kilometers in 2025 and holds the Guinness World Record for the longest journey by an electric car on a single charge, further enhancing brand image and market competitiveness, which is expected to drive future sales growth.
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Lucid Air Grand Touring Wins Winter Test with Record Range
- Winter Test Performance: The Lucid Air Grand Touring achieved a record range of 520 kilometers in the NAF winter test in Norway, surpassing the nearest competitor's 421 kilometers, highlighting its exceptional performance in extreme cold conditions and solidifying Lucid's leadership in the electric vehicle market.
- Technological Edge: With a WLTP range of up to 960 kilometers and a consumption of 13.5 kWh/100 km, this model sets the benchmark in its segment, showcasing Lucid's leading position in electric powertrain technology.
- Fast Charging Capability: The Lucid Air Grand Touring supports rapid charging, recovering 400 kilometers of range in just 16 minutes, significantly enhancing user convenience and travel efficiency, aligning with modern consumer demands for electric vehicles.
- Record Holder: This model not only won the winter test but also set a summer test record with 828.6 kilometers and holds the Guinness World Record for the longest distance traveled by an electric vehicle on a single charge, further enhancing brand image and market competitiveness.
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