Saudi EV plant likely to be one of three in kingdom, says minister

DUBAI (Reuters) – An electrical automobile (EV) meeting plant to be inbuilt Saudi Arabia is more likely to be one in every of three within the kingdom, funding minister Khalid Al-Falih stated on Wednesday.

United States-based EV maker Lucid Motors, which is greater than 60% owned by Saudi Arabia’s sovereign wealth fund, plans to construct its first abroad manufacturing manufacturing unit in Saudi Arabia later this 12 months. The plant is predicted finally to supply as much as 150,000 automobiles a 12 months.

Falih, talking on the World Financial Discussion board in Davos, gave no particulars on the opposite potential crops.

(Reporting by Yousef Saba; Enhancing by David Goodman)