Lucid Group, Inc. (NASDAQ: LCID), maker of the world’s most advanced electric vehicles, represented by Lucid in Saudi Arabia and Electric Vehicle Infrastructure Company (EVIQ), have announced a strategic MoU to activate high-speed public charging infrastructure to support the adoption of electric vehicles (EVs) in the Kingdom.

The MoU signifies a strategic alignment between Lucid and EVIQ to foster cooperation and the exchange of expertise in the development and enhancement of the Kingdom’s EV infrastructure, contributing to the growing adoption of EVs in Saudi Arabia and bolstering the Kingdom’s position as a leading hub for innovation and development in EV technology.

The Lucid Air is among the fastest charging vehicles on the market today and the Company is committed to providing an expanded ownership experience, making it easier than ever for people to buy and own the world’s best electric vehicle. Under the MoU, Lucid and EVIQ will collaborate to develop a high-speed public charging offering for Lucid customers, utilizing EVIQ’s stations to provide fast-charging capabilities.

“The collaboration between Lucid and EVIQ represents a significant step forward in addressing one of the key challenges hindering the mass adoption of electric vehicles – access to convenient and reliable charging infrastructure,” said Faisal Sultan, Vice President and Managing Director Middle East at Lucid. By combining Lucid's expertise in electric vehicle design, manufacturing, and sustainable mobility with EVIQ's extensive experience in developing and operating public charging networks, including fast-charging stations, the collaboration will serve to drive innovation and accelerate EV ownership in Saudi.”

“Our mission is to provide the best-in-class EV chargers & technologies to empower drivers in Saudi to buy and use EVs with confidence,” said Mohammad Bakr Gazzaz, CEO at EVIQ. “Through this partnership with Lucid, we have taken another big step towards our goal of establishing a national network of fast charging locations by 2030, to enable and encourage the use of EVs across Saudi Arabia, in line with the Saudi Green Initiative and Vision 2030.”