Saudi EV plant more likely to be one among 3 in kingdom, says minister

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Saudi Arabia’s Minister of Funding Khalid Al Falih gestures throughout the outlet consultation of the Long term Funding Initiative Convention in Riyadh, Saudi Arabia, October 26, 2021. REUTERS/Ahmed Yosri/Record Picture

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DUBAI, Would possibly 25 (Reuters) – An electrical automobile (EV) meeting plant to be inbuilt Saudi Arabia is perhaps one among 3 within the kingdom, funding minister Khalid Al-Falih stated on Wednesday.

United States-based EV maker Lucid Motors, which is greater than 60% owned through Saudi Arabia’s sovereign wealth fund, plans to construct its first out of the country manufacturing manufacturing facility in Saudi Arabia later this 12 months. The plant is anticipated ultimately to provide as much as 150,000 automobiles a 12 months.

Falih, talking on the Global Financial Discussion board in Davos, gave no main points at the different attainable vegetation.

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Reporting through Yousef Saba
Modifying through David Goodman

Our Requirements: The Thomson Reuters Consider Rules.

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