· Lucid Group and KACST will share expertise in scientific and technical research to develop research programs aimed at producing technical solutions that serve the transportation and energy sectors and contribute to strengthening the national economy.
· Partnership represents shared common goal to advance science and technology to face challenges of national, regional, and global significance.
King Abdullah Economic City, Saudi Arabia – May 2, 2024. Lucid Group, Inc. (NASDAQ: LCID), setting new standards for luxury electric experience with the Lucid Air, America’s most awarded new luxury vehicle and selected to Car and Driver’s 10Best list for 2024, and King Abdulaziz City for Science and Technology (KACST) have signed a Memorandum of Understanding dedicated to advancing electric vehicle technology in the Kingdom.
Under the partnership, Lucid Group and KACST will collaborate on joint research using KACST services, facilities, and products for dedicated research into advanced battery technologies and materials, as well as studies in aerodynamic, autonomous driving, and artificial intelligence technologies. The partnership will also include testing research into electric vehicles and evaluate their performance to ensure their adaptation to the climatic conditions in the Kingdom.
The Memorandum of Understanding was signed by the Senior Vice President of KACST for Research and Development Sector, Dr. Talal bin Ahmed Al-Sudairi, and the Vice President and Managing Director of Lucid Middle East, Mr. Faisal Sultan, in the presence of His Excellency the President of KACST, Dr. Mounir bin Mahmoud Al-Desouki, and a number of officials from both sides.
Speaking about the partnership, Faisal Sultan, Vice President and Managing Director Middle East, Lucid Group said: “Lucid’s goal is to inspire the adoption of sustainable energy by creating advanced technologies. This Memorandum of Understanding marks a key step towards achieving this vision, acting as a catalyst to advance and elevate the entire EV industry and inspire the adoption of sustainable transportation in support of the Kingdom’s vision for a more sustainable and diversified economy.”
Al Sudairi at King Abdulaziz City for Science and Technology added: “Using our state-of-the-art facilities, the research conducted under this project will advance electric vehicles systems and aid the development of technologies to support autonomous driving, in line with national aspirations for research, development and innovation in the energy and industry sector.”
The joint research and development headquarters will be located at the national laboratories in KACST and will be launched during the third quarter of 2024.
