Lucid Motors is making strides in the electric vehicle (EV) rental market by expanding its operations internationally. The company recently entered a partnership with Sixt in Saudi Arabia, allowing customers to rent the Lucid Air, with the upcoming Gravity SUV joining the fleet shortly.
Lucid’s International Expansion
The partnership with Sixt is a significant step in increasing Lucid’s presence in Saudi Arabia. Announced on social media, the collaboration aims to facilitate access to luxury mobility options for customers.
Details of the Partnership
While specific terms of the agreement remain undisclosed, it follows Lucid’s earlier commitment to the Saudi market. In 2022, the company secured a deal to sell up to 100,000 electric vehicles in the region. Additionally, last year, Lucid established its first overseas manufacturing plant in King Abdullah Economic City, located in Jeddah.
Manufacturing and Production Capacity
Currently, Lucid is shipping vehicles from its original manufacturing facility in Casa Grande, Arizona, to Saudi Arabia for final assembly. The focus has primarily been on the Lucid Air models. As part of its future plans, Lucid intends to fully assemble vehicles at the new plant, which will enhance its production capacity by 150,000 vehicles annually, beginning next year.
Delivery and Pricing Options
In a recent earnings call, interim CEO Marc Winterhoff reported that Lucid had produced over 1,000 vehicles for assembly in Saudi Arabia, alongside 3,891 units from Arizona. With the production of the Gravity SUV ramping up, Lucid anticipates an increase in deliveries by 2026.
- The Lucid Air Touring is available for rent from Riyadh Airport at approximately 1,228 riyals ($327) per day.
- Customers can include 1,000 km in the rental, with an additional 245 riyals ($65) daily for 3,000 km.
- For comparison, renting a Tesla Model 3 costs 662 riyals ($176) per day, also with 1,000 km included.
Furthermore, Lucid had previously initiated a similar collaboration with Sixt in Germany, where the Air is available for rent, starting at 999 euros ($1,161) per month.
Future Prospects
As Lucid continues to grow its EV rental business abroad, the company’s strategic moves will likely play a critical role in shaping the future of luxury electric mobility in global markets.
