Kuwait to pioneer cities for electric vehicles

Kuwait Ports Authority (KPA) has approved a proposal to build the Middle East's first city to serve electric vehicle manufacturers, the authority said in a statement on Sunday.

The statement does not make clear where the project, called EV City, will be located.

The design and construction tendering process will be during the 2011/22 fiscal year, said KPA's General Manager Yousef al-Abdullah al-Sabah.

KPA noted that electric car makers do not use local distributors or dealers and sell their vehicles directly to consumers, adding that it was common for ports to provide certain infrastructure to manufacturers.

"KPA is able to provide all port and logistics services to the biggest global companies manufacturing electric cars," Sabah said, adding that the project was in line with Kuwait's Vision 2035 economic diversification plan.

The Public Investment Fund, the sovereign wealth fund of neighbouring Saudi Arabia, has made huge gains after it invested more than $1 billion in electric carmaker Lucid in 2018.

Lucid Group (LCID.O) listed last month after a merger with a blank check company, Churchill Capital Corp IV, in February in a deal that gave the combined company a pro-forma equity value of $24 billion. PIF owns 62.7% of Lucid. 

Source: Reuters

 

The Liberum

Vox Populi, Vox Dei
See full bio >
The Liberum runs on your donation. Fight with us for a free society.
Donation Form (#6)

More articles you might like

No one waits anymore

We’ve lost the art of waiting. We skip intros. We play podcasts at 1.5x. We […]

Russia & Iran: Partners in defeat?

The Israeli-American attack on the Islamic Republic has clearly shown that Iran is on its […]
- by The Liberum on 19/06/2025

Precision Warfare: How Trump and Netanyahu are Tag-Teaming Khamenei

Most people assume the Western world is intent on preventing Iran from acquiring nuclear weapons. […]

The Bureaucracy of Despair

Ever since Grotius argued that war could be governed by reason, the project of “civilising […]

SWIM Lebanon celebrates Four Years of Purpose, People, and the Power of Nature

Lebanon’s leading environmental NGO, SWIM Lebanon (Sustainable Waste Intercity Marathon), marks four years this month since […]
- by Ahsan Ali on 09/06/2025

The Road Ahead: Structuring an Inclusive Syria without Assad

With the collapse of the Bashar al-Assad regime, the political status quo, which was carefully […]