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Riyadh's multi-billion EV dream risks crashing into reality

Riyadh's multi-billion EV dream risks crashing into reality
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Riyadh's multi-billion EV dream risks crashing into reality - Technology

RIYADH: Riyadh has spent billions to try to turn itself into a hub for electric vehicles and overcome obstacles. ....

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Riyadh's multi-billion EV dream risks crashing into reality

Riyadh has spent billions to
try to turn itself into a hub for electric vehicles and overcome
obstacles including a lack of infrastructure, talent and raw
materials, as it seeks to catch up in the. ....

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Analysis-Riyadh's multi-billion EV dream risks crashing into reality

Riyadh has spent billions to try to turn itself into a hub for electric vehicles and overcome obstacles including a lack of infrastructure, talent and raw materials, as it seeks to catch up in the global race to reap the profits of the new industry. As part of a broader plan by Saudi Crown Prince Mohammed bin Salman to wean the economy off oil and create jobs, the kingdom has invested at least $10 billion in U.S.-based Lucid Motors, set up Ceer, Saudi Arabia's own brand, and built an EV metals plant. The Public Investment Fund (PIF), Saudi Arabia's $700 billion sovereign wealth fund, has a goal to produce 500,000 EVs annually by 2030, up from a target of 150,000 in 2026. ....

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Saudi Arabia ranked among top 10 developing economies in e-commerce

Saudi Arabia ranked among top 10 developing economies in e-commerce
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