Canoo (GOEV) is making good on its promise to bring EVs to everyone with a new distributor partnership that will expand its network to Saudi Arabia.
Expand Expanding Close
One of the last nations you would expect to join the electric vehicle revolution, Saudi Arabia, has announced its intentions to build and export EVs. The world’s largest oil-exporting nation, Saudi Arabia, aims to export over 150,000 EVs in 2026.
Expand Expanding Close
Lucid Group has announced a new agreement with long-time supporter Saudi Arabia and its Ministry of Finance. Under the terms of the agreement, the Government of Saudi Arabia has committed to purchasing 50,000 EVs from Lucid Motors over the next ten years, with the option to purchase an additional 50k over that same timeframe.
Expand Expanding Close
Lucid Motors shared 4Q and 2021 financial earnings with investors today, alongside a 2022 outlook. While the automaker only delivered 125 of its flagship Air sedan in 2021, it has already surpassed that number in 2022. However, overall output is expected to be quite a bit lower than originally anticipated. Lucid now expects to produce 12,000–14,000 EVs this year, down quite a bit from previous estimates of 20,000.
Expand Expanding Close