Lucid Motors (NASDAQ:LCID) attended the Dubai Airshow where the electric automaker signed a memorandum of understanding (MOU) with Riyadh Air, combining their shared vision of sustainable transportation.
The collaboration will involve joint efforts in co-marketing, commercial ventures, and operational initiatives, specifically catering to a select audience of guests and travelers.
Riyadh Air seeks to position Saudi Arabia as a key player in global aviation and trade. The ambitious plan involves setting new benchmarks in the aviation industry by inaugurating a national airline headquartered at King Khalid International Airport in Riyadh.
With a vision to become the Middle East's leading airline in terms of revenue, Riyadh Air aims to significantly boost annual passenger numbers, targeting a remarkable threefold increase to 330 million travelers by the year 2030.
Riyadh Air revealed its second permanent dual-livery design during the Dubai Airshow, and also announced the strategic partnership with Lucid Motors. As a symbolic representation of their collaboration, two Lucid Air vehicles were wrapped in Riyadh Air livery.
“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,” said Riyadh Air CEO Tony Douglass
Additionally, three other Lucid Air cars were employed to shuttle visitors to and from the Dubai Airshow, showcasing the tangible outcome of their newly forged alliance.
Shares of LCID are up 5.52% in afternoon trading on Monday.