https://arab.news/gb52z
RIYADH: US electric carmaker Lucid Motors is set to secure a high-quality aluminum panel supply through an agreement signed with a subsidiary of the Saudi Arabian Mining Co.
Ma’aden Rolling Co. has signed a deal with Lucid Motors, majority-owned by the Kingdom’s Public Investment Fund, to supply top-quality aluminum sheets with various specifications for its US factories, according to a post on X.
This initiative aligns with the commitment of the Saudi mining firm, also known as Ma’aden, to advance the global energy transition.
It aims to expand MRC’s global market presence, offering customized services and ensuring rapid response times.
The company explained in the post that the agreement, concluded during the Future Minerals Forum, will span a period of three years.
In December 2023, Lucid’s Global Vice President Faisal Sultan revealed that the firm had assembled almost 800 cars in its Saudi factory.
The facility’s initial capacity stands at 5,000 electric vehicles a year after the Kingdom’s government pledged to buy up to 100,000 units from it over 10 years.
In July 2023, Saudi residents and tourists could rent EVs from Lucid Motors as part of the Kingdom’s sustainability drive, the Transport General Authority announced at the time.
The initiative was being rolled out with 10 Lucid EVs, which were made available for rent at the time through Theeb Car Rental.
The development aligned with Saudi Arabia’s efforts to embrace renewable energy sources in line with its sustainable goals to ensure net-zero emissions by 2060.
Moreover, the move was in line with the Kingdom’s National Strategy for Transport and Logistics, which focuses on raising the share of EV use across Saudi Arabia to 25 percent by the end of this decade.
The availability of Lucid cars for rental was projected to boost the use of clean energy sources in the Kingdom, enhance environmental sustainability, and reduce carbon emissions.
MRC has a capacity of 460,000 tons per year. It currently produces can sheets, end and tab stock for beverage can manufacturing, as well as auto sheets for the automotive industry.