Saudi Arabia in talks with automakers on plant plans, minister says | Reuters
Saudi Arabia is in talks with several carmakers about manufacturing in the country, Saudi Investment Minister Khalid al-Falih told Reuters, with an announcement expected this year.
The discussions are part of plans to attract foreign investment to support the transformation of Saudi Arabia's economy and diversify it away from oil.
"A car manufacturer will be announced before year-end, and following that there will be another one or two car manufacturers, and they will be cars of the future", Falih said.
Luxury electric car maker Lucid (LCID.O) is evaluating the opportunity for manufacturing in Saudi Arabia, but the company's board has to decide based on the economics and competitiveness of choosing the Saudi market, the minister said.
No comments:
Post a Comment