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Electric vehicles

Nio electric cars. Abu Dhabi's CYVN has invested in the company Video length: 04:21

Why Gulf governments keep investing in EVs

Oil-based economies need a Plan B – something they can turn to when crude markets are troubled. Gulf governments are using electric vehicles as that hedge, according to Kevin Chalhoub, CEO of EV Lab. “When oil won’t go well, probably electric cars will go well,” he says. “It’s a very exciting strategy. The Middle East […]

Saudi car dealer Samaco Motors to go public in 2025

Saudi car dealer Samaco Motors to go public in 2025

Saudi Arabia’s Samaco Motors, the exclusive dealer of European cars including Audi, Bentley, Porsche, Lamborghini and Volkswagen, has revealed plans to go public on the Saudi market next year. The company’s CEO Mohammed Sharbatly revealed the news to Al-Eqtisadiah newspaper. Speaking on the sidelines of the launch of Porsche’s new electric vehicles in Riyadh, Sharbatly said […]

Lucid has begun taking orders for its Gravity electric SUV

Lucid reports higher revenue but steeper losses

Saudi-backed US luxury electric vehicle maker Lucid reported a larger net loss than last year in the third quarter, but said revenue rose 45 percent, slightly ahead of Wall Street expectations. The company’s losses of $992.5 million in Q3 compared with $630.9 million in 2023. Revenue reached $200 million, narrowly beating estimates of $198 million.  Lucid […]

Saudia had placed an order for 50 of the pilotless jets before Lilium announced its intention to file for insolvency

Saudia to receive flying taxis despite Lilium’s insolvency

Saudi national carrier Saudia still plans to receive some of its 50-plane order of pilotless electric flying vehicles from Lilium despite the German company’s intention to file for insolvency.  “We are in close coordination with the Lilium leadership team. We are expecting to receive the first jets in the second half of 2026, as per […]

Saudi Arabia's EV ambitions take shape as Lucid's Jeddah plant moves towards full production

Lucid’s Jeddah factory targets new Middle East territories

Lucid, the Saudi-owned electric vehicle manufacturer based in the US, is moving to full production at its Jeddah factory, with a target capacity of 150,000 cars a year within three years, its robotics provider, Rockwell Automation, said this week.  “Currently it’s for domestic use but when the expanded plant is done, they will cover all […]

Lucid shares. The Lucid Grand Touring. The company delivered 500 more cars than expected in Q3

PIF-backed Lucid shares tumble on anticipated Q3 losses

Shares of Saudi-backed US luxury electric vehicle maker Lucid fell more than 12 percent in pre-market trading on Thursday. The drop came after the company announced it anticipates reporting a larger-than-expected loss for the third quarter and a public offering of more than 262 million shares.  Saudi Arabia’s Public Investment Fund, already a majority shareholder […]

Lilium's Daniel Wiegand meets Ibrahim Al-Omar, director of Saudia Group at the launch event

Saudia prepares to launch electric jet service

Saudia Airlines’ electric jet plane is the first step towards zero-carbon commercial flights in medium-sized planes, according to its German manufacturer Lilium.  Daniel Wiegand, co-founder and chief engineer for innovation at Lilium, said both parties were looking beyond the initial sale of 50 Lilium jets, which Saudia bought for at least $7 million each, with […]

The Chinese electric vehicle manufacturer BYD is advancing plans to develop a $1bn production facility in Turkey

China files trade complaint against Turkey over EV tariffs

Beijing has lodged a trade dispute complaint against Turkey at the World Trade Organisation over Ankara’s efforts to stem a potential tide of imported Chinese electric vehicles. China’s launching the first stage of the dispute mechanism (termed a request for consultations) comes more than two years after Turkey first imposed tariffs on Chinese made-EVs, with […]

Saudi-backed US luxury electric vehicle maker Lucid exceeded market expectations in Q3, delivering 24 percent more cars than forecast

Lucid beats latest delivery expectations

Saudi-backed US luxury electric vehicle maker Lucid has exceeded market expectations for its third quarter, delivering 24 percent more cars than had been forecast.  Analysts cited discounts and more favourable finance options as reasons for the sharp increase.  Lucid delivered 2,781 vehicles in Q3, ahead of estimates of 2,242, according to analysts polled by Visible […]

Sales rose 159 percent in the first eight months of 2024 as 41,300 EVs rolled off Turkey’s lots, a third being the domestically-produced Togg

Turkey imposes restrictions on hybrid car imports  

Turkey has introduced stringent regulations on the import of plug-in hybrid vehicles from some countries, including China. The notice includes rules such as importers need to have at least 20 authorised service centres across seven regions in Turkey for chargeable hybrid vehicles not manufactured in the European Union or in countries with which Turkey has […]

Traffic on King Fahd road in Riyadh. The Saudi government wants 15% of public transport vehicles to be autonomous

Driverless cars for Saudi officials by next year

Saudi Arabia has launched a project for driverless cars which could result in government agencies using them as early as next year.  The government is installing smart communication devices along roadways that interact with autonomous vehicles, the official Saudi Press Agency said, announcing a new Saudi Road Code.  “These devices provide real-time road condition data, […]

A Lucid vehicle in production. Electric vehicle usage in Saudi Arabia is still extremely low

Lucid taps PIF backer for $1.5bn cash injection

Saudi-backed US electric vehicle maker Lucid is to receive a cash injection of $1.5 billion from its majority stockholder Ayar Third Investment Company, an affiliate of Saudi Arabia’s Public Investment Fund. “The additional $1.5 billion commitment by an affiliate of the PIF announced today is expected to provide sufficient liquidity into at least the fourth […]

Transportation, Vehicle, Flat Bed Truck The testing was carried out on a set route in a closed area of the logistics district in Dubai South with the Evocargo N1 unmanned electric truck

Autonomous vehicles pass test in UAE

Self-driving vehicles are to be rolled out across the UAE following successful trials in Dubai South. Evocargo, which is headquartered in Dubai, ran the tests and is confident that autonomous vehicles will be available within Dubai South in the first quarter of next year.  The company then plans to expand into neighbouring Ras Al Khaimah […]

lucid ev

Saudi-backed Lucid EV makes more cars but lags target

Saudi-backed US electric vehicle maker Lucid has increased Q2 production by 22 percent but still looks likely to miss its annual targets. Some 2,110 vehicles were produced, compared to 1,728 in the previous quarter. However, the company’s annual target is 9,000 units.  The company also received a setback when the US National Highway Traffic Safety […]

The Byd booth at the Auto Shanghai show in April 2023. The new Byd factory in Turkey will boost its access to the EU

Chinese EV maker Byd to open $1bn plant in Turkey

Chinese electric vehicle (EV) manufacturer Byd will construct a $1 billion plant in Turkey, according to a news report. The agreement was signed between the Chinese company and Turkey’s industry and technology ministry on Monday in the presence of Turkey’s president Tayyip Erdogan. Bloomberg reported citing officials that the announcement planned on Monday. The electric […]

Tesla introduced a Model Y variant in Turkey with a single motor and power output under 160KW

Tesla outpaces Togg with Turkey-specific model

Tesla sales in Turkey surpassed those of the local brand Togg in June, following the introduction of a model tailored for the Turkish market. The US electric vehicle (EV) maker sold 2,670 units of the Model Y RWD sport-utility vehicle (SUV), designed to avoid high taxes on vehicles exceeding 160 kilowatts of power, the Daily […]

Lithium fields in the Atacama desert in Chile. Saudi Arabia’s mining minister Bandar Alkhorayef is due to visit Chile next month

Saudi’s Almar Water explores lithium venture in Chile

Almar Water Solutions, a water infrastructure developer and part of Saudi Arabian company Abdul Latif Jameel Energy, plans to partner with Chile’s state-backed Codelco in the Maricunga lithium mining project. The Spain-based company aims to leverage its technology to extract battery-metal lithium, Reuters reported, quoting CEO Carlos Cosin. Chile is the world’s second-largest lithium producer […]