Transport 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 […] November 7, 2024
Opinion Transport How to make hybrid cars sexy? Call them Ferrari Ferrari's new hybrid is a beautiful car – as it should be for the best part of AED1.4 million October 18, 2024
Manufacturing 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 […] October 17, 2024
Aviation 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 […] October 14, 2024
Trade 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 […] October 9, 2024
Transport 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 […] October 8, 2024
Industry 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 […] September 23, 2024
Opinion Manufacturing Tesla “just not cool” anymore in car-crazy California The US state and Elon Musk's pioneering company have fallen out of love August 27, 2024
Transport 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, […] August 16, 2024
Sustainability 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 […] August 6, 2024
ANALYSIS Industry Made in Morocco – industrial giants just keep on investing Rabat's deals with manufacturers from the US, Europe and Asia provide a model of co-operation for the Arab world July 30, 2024
Transport 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 […] July 18, 2024
Opinion Renewable Energy Despite EVs, the ICE Age will last longer than expected Transition to electric transport will be slow and evolutionary July 11, 2024
Transport 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 […] July 9, 2024
Manufacturing 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 […] July 8, 2024
Manufacturing 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 […] July 3, 2024
Mining 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 […] June 26, 2024
ANALYSIS Economy Gulf to ‘see more rather than less’ despite China’s slowing economy Beijing's sluggishness need not be bad news for the GCC, analysts tell AGBI June 24, 2024
Manufacturing China picks Morocco for Europe’s EV battery supply China is intent on establishing a battery supply chain for the European electric vehicle (EV) market in Morocco, a top Volkswagen executive has said. The initiative comes as Europe grapples with challenges in establishing its industry to support EV manufacturing. “We don’t have any supply chain. This has to be set up,” Bloomberg reported, quoting […] June 21, 2024
Opinion Transport The Rolls-Royce Spectre: saving the planet, ostentatiously The new elite EV is a jaw-dropping phenomenon even on Dubai's blingy roads June 14, 2024
Manufacturing Morocco signs Chinese deal to build EV battery factory China has announced a second large-scale investment in Morocco’s electric vehicle sector with plans for an EV battery factory to take advantage of access to the European market and a burgeoning automotive sector. A $1.3 billion deal has been signed between the Moroccan government and the Chinese-European group Gotion High Tech to build a gigafactory […] June 7, 2024
Analysis Finance UAE car insurers boycott Teslas over high repair costs Insurance companies are refusing to offer fully comprehensive insurance cover for Tesla electric vehicles in the UAE because of the huge cost of repairs, a lack of repair expertise and an increased number of accidents. “The repair invoice for Tesla is almost three times as much as an average car,” said Issam Mouslimani, goodwill ambassador […] June 7, 2024
