Dubai: Saudi Arabia will have its first electric vehicle in 2025 and will produce 150,000 electric cars annually, a senior official has confirmed.
During a recent interview with Rotana Khalejeyah, Ibrahim Almojel, Saudi Industrial Development Fund (SIDF) CEO, said that Saudi Arabia will be able to achieve this goal with the support of the government and private sectors.
Speaking about the differences between Lucid and Ceer, Almojel said that the American Lucid is focusing on the luxury cars segment. Meanwhile, the Saudi Ceer will focus more on the daily and most used vehicle, Almojel added, noting that Ceer will become an integrated company not specialized in a specific kind. Details will be provided in the future.
As for SIDF and the industrial finance sector in Saudi Arabia, Almojel indicated that they will finance any factory inside the Kingdom, even if it is owned by a foreigner, but on the condition that the foreigner provides an added value to the country.