A partnership inked between “Lucid” and “KACST” to develop e-vehicles in the Kingdom

Lucid Group, listed on the Nasdaq Stock Exchange with the symbol “LCID”, signed a memorandum of understanding with King Abdulaziz City for Science and Technology – “KACST” with the aim of developing electric vehicle technology in the Kingdom.

Under the partnership, the two parties will cooperate within the framework of a joint research project using the services, facilities and products of King Abdulaziz City for Science and Technology, in order to conduct dedicated research into advanced battery technologies and materials, in addition to multiple studies in the fields of aerodynamic technologies, autonomous driving and artificial intelligence.

Research on electric cars will also be tested and their performance evaluated to ensure their adaptation to the climatic conditions prevailing in the Kingdom.

The joint research and development project will be based in the national laboratories of King Abdulaziz City for Science and Technology, and will be launched during the third quarter of 2024.

The memorandum of understanding was signed by the First Vice President of the King Abdulaziz City for Science and Technology for the Research and Development Sector, Dr. Talal bin Ahmed Al-Sudairy. Faisal Sultan, Vice President and Managing Director of Lucid Group in the Middle East.