Logo of Ministry of Industry and Mineral Resources
The Ministry of Industry and Mineral Resources said the number of factories manufacturing vehicles and their spare parts in the Kingdom reached 160, Al Eqtisadiah newspaper reported.
The ministry added that three projects have been launched recently for the manufacturing of passenger vehicles in Saudi Arabia, including two electric-vehicles (EVs) factories by Lucid and CEER and another one for conventional vehicles by SNAM.
On May 18, 2022, Lucid Group, which is partially owned by the Public Investment Fund (PIF), signed a contract to construct a new manufacturing plant in King Abdullah Economic City (KAEC), with a capacity of 155,000 EVs, according to data available with Argaam.
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