The world's largest oil exporter is using new energy. Saudi Arabia plans to export more than 150000 electric vehicles by 2026.

CTOnews.com, October 23 (Xinhua)-- Saudi Arabia, the world's largest oil exporter, has released its "Vision 2030" strategy, which plans to export more than 150000 electric vehicles by 2026, according to electrek.

As part of its "Vision 2030" plan, Saudi Arabia has pledged to buy at least 50000 (up to 100000) electric vehicles from Lucid Motors. The strategy includes bringing advanced electric vehicles to Saudi Arabia while increasing non-oil GDP from the current 16 per cent to 50 per cent.

According to reports, Saudi Communications and IT Minister 阿不都拉 Al-Swaha said on Wednesday: "by 2026, Saudi Arabia will manufacture and export more than 150000 electric vehicles."

CTOnews.com learned that Lucid Motors revealed in 2018 that Saudi Arabia's Public Investment Fund (PIF) had invested more than $1 billion in it, which was later rumored to allow Lucid to build a manufacturing plant in the country.

The Saudi minister for communications and IT reiterated that Saudi Arabia has 61 per cent ownership of its investment in Lucid, which will "make the kingdom one of the developed countries". Construction of Lucid's electric vehicle manufacturing plant began in May, according to Saudi Investment Minister Khalid Al-Faith.