Electric Revolution: Lucid Motors Eyes Moroccan Expansion

Lucid Motors is preparing to expand into other markets in the GCC and Middle East and North Africa regions. "We will consider expanding into other regions, such as Morocco, in the long term. [...] We will explore these markets later, once we have established our dominant position in the key regions," said Faisal Sultan, President of Lucid Motors for the Middle East, in an interview on the occasion of the Giga Africa 2025 event in Morocco. He also announced that Lucid was preparing to adopt an agency model in the new countries of the Gulf Cooperation Council (GCC).

The manufacturer is expressing its interest in the kingdom after consolidating its presence in the main markets of the Gulf Cooperation Council - Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. "In the region, Saudi Arabia is of course our largest market," Sultan said. According to him, the Kingdom of Saudi Arabia accounts for about 60 to 62% of the total demand for electric vehicles in the Gulf region. "In the GCC, they represent 60 to 62% of the total market and I think they are currently leading the progress of electric vehicles," the Middle East manager told Benchmark Automotive Research. The brand’s wish, Sultan will say, is for Saudi Arabia to continue to account for around 60% of its Middle East sales, followed by 20% for the United Arab Emirates and the rest for smaller markets.

Lucid Motors recorded total revenue of $259.4 million in the second quarter, compared to $235 million in the first quarter and $200.6 million a year earlier. As for global deliveries, they reached 3,309 vehicles, compared to 3,109 in the previous quarter. In the Middle East, its revenue increased from $7.8 million in the first quarter to $36.6 million, of which $35.9 million came from Saudi Arabia and $0.7 million from the United Arab Emirates, where the brand began deliveries at the end of last year.