Riyadh Air, Saudi Arabia’s newest airline which is fully owned by the Public Investment Fund, has partnered with Lucid Motors.
The partnership emphasizes their shared commitment to innovation and sustainability in the fields of aviation and electric vehicle production.
The world of aviation and electric vehicles witnessed a significant move towards sustainability at the recent Dubai Airshow. This monumental agreement marks the start of a sustainable journey for both entities, driven by a shared vision for greener transportation.
The Visionaries Behind the Collaboration
Riyadh Air, a brainchild of Saudi Arabia’s Crown Prince Mohammed bin Salman, is set to revolutionize the aviation industry. The airline’s operational hub is at King Khalid International Airport, Riyadh.
With an ambitious plan to triple the annual passenger count to 330 million by 2030, Riyadh Air is on its way to becoming the leading airline in the Middle East in revenue.
On the other hand, Lucid Motors, backed heavily by the Public Investment Fund (PIF), which holds a 60% stake, is an established player in the electric vehicle market. The PIF has invested $5.4 billion in Lucid Motors since 2018, signifying its commitment to sustainable transportation.
Unveiling the Partnership
If you think technology can't break new ground, think twice.— Riyadh Air (@RiyadhAir) November 13, 2023
Introducing our pioneering new partnership with @LucidMotors, as we unite with a shared vision to drive innovation and sustainability into the future.#FutureTakesFlight #DAS23 #RiyadhAir pic.twitter.com/30MzRwx1R0
The MoU was officially announced at the Dubai Airshow amidst much fanfare. As part of the announcement, Riyadh Air revealed an impressive dual-livery design on two Lucid Air vehicles. This symbolized the strong bond the two entities intend to forge through their partnership.
Riyadh Air CEO Tony Douglass expressed his delight at the unveiling, stating, “As the largest start-up in commercial aviation in decades, we are delighted to unveil to the world Riyadh Air’s second livery, which will be unmistakable when it takes to the skies in 2025 as we become one of the first international carriers to have permanent dual-liveries on an active fleet.”
Three other Lucid Air cars, wrapped in Riyadh Air livery, shuttled visitors to and from the Dubai Airshow, putting the collaboration into immediate action.
The Scope of Collaboration
The collaboration between Riyadh Air and Lucid Motors promises to explore various avenues, including co-marketing, commercial, and operational initiatives. While the specific terms of the MoU remain undisclosed, it is expected to focus on marketing opportunities primarily.
Why This Matters
This collaboration is a game-changer, setting a new sustainability standard for the travel industry and indicating the potential for wide-scale adoption of eco-conscious practices in the aviation and automotive sectors.
Sustainability at the Forefront
Both Riyadh Air and Lucid Motors emphasize the importance of sustainability.
Riyadh Air has committed to embracing the industry’s best sustainability practices, making it an ideal partner for Lucid Motors.
In further developments, Riyadh Air, the rising star in the Saudi Arabian sky, will focus on the niche market of flights to and from KSA as the Kingdom emerges as a tourism hub connecting to more than 100 destinations by 2030.
Lucid Motors, known for its luxury electric vehicles, embodies sustainable transportation. As Lucid Motors has obtained a license to begin electric vehicle production in a special economic zone in Saudi Arabia. Lucid plans to produce 150,000 EVs annually in the King Abdullah Economic City.
With these ventures already under their belt, they endeavor to pave the way for a greener future in their industries.
This partnership between Riyadh Air and Lucid Motors is expected to stimulate innovation and sustainability in the coming years. As both entities progress towards their shared vision of sustainable transportation, the world looks forward to seeing the tangible results of their efforts.