RIYADH: US-based electric vehicle manufacturer Lucid Group Inc., in which Saudi Arabia's Public Investment Fund holds a 60 percent stake, has promoted Faisal Sultan to vice president and managing director in the Middle East.
According to a press release, Sultan will directly report to Lucid’s CEO and Chief Technology Officer Peter Rawlinson.
Sultan's appointment comes as Lucid plans the construction of a plant in the Kingdom that will produce 150,000 electric vehicles per year.
“Our mission is to inspire the adoption of sustainable energy by creating the most captivating electric vehicles in the world, and the Middle East is a strategic region in fulfilling that mission, for both manufacturing and retail,” said Rawlinson.
He added: “This requires deep knowledge of the area along with business acumen, and we are very fortunate to have Faisal leading our team here in the Middle East.”
Sultan has 23 years of combined automotive experience with Lucid, Industrial Clusters, FCA, Magna, Ford, and GM, where he held leadership positions spanning industrial development, manufacturing, operations, engineering, and program management.
In August, Sultan, who was then the managing director of global operations at Lucid, said the PIF was supportive of Lucid when it faced a supply crunch.
During an interview with Bloomberg, Sultan noted that supply chain issues will be righted soon, and things will get back to normal by the end of this year.
He also lauded the Saudi Arabian government for changing the atmosphere of the Kingdom, making it suitable for the roll-out of EVs.
“The government is very serious and they’ve been working very hard with us to make sure the environment is ready,” Sultan said.
The government plans to ensure 30 percent of all vehicles in the capital city Riyadh run on electricity by 2030.
