Lucid Motors Unveils its Much-Anticipated New Electric Vehicle

Lucid Motors launches its Lucid Air, state-of-the-art luxury EV Sedan. (Lucid Motors)
Lucid Motors launches its Lucid Air, state-of-the-art luxury EV Sedan. (Lucid Motors)
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Lucid Motors Unveils its Much-Anticipated New Electric Vehicle

Lucid Motors launches its Lucid Air, state-of-the-art luxury EV Sedan. (Lucid Motors)
Lucid Motors launches its Lucid Air, state-of-the-art luxury EV Sedan. (Lucid Motors)

Lucid Motors, which seeks to set new standards for sustainable transportation with its advanced luxury electric vehicles (EV), unveiled on Thursday production details for the highly anticipated Lucid Air. Having already set new industry benchmarks in the EV and luxury segments in key areas related to performance, efficiency, and design, deliveries of this new pure-electric luxury sedan will start in spring of 2021.

“Lucid Motors is driven to make the electric car better, and by doing so, help move the entire industry forward towards accelerated adoption of sustainable mobility. The goal of this relentless approach to developing the world’s most advanced electric vehicle is to benefit all mankind with sustainable, zero emission transportation, and to also attract new customers to the world of EVs,” said Peter Rawlinson, CEO and CTO, Lucid Motors.

“With the Lucid Air, we have created a halo car for the entire industry, one which shows the advancements that are possible by pushing the boundaries of EV technology and performance to new levels.”

The Lucid Air is the result of a revolutionary approach to automotive packaging called the Lucid Space Concept, which capitalizes upon the miniaturization of Lucid’s in-house developed EV drivetrain to optimize interior cabin space. The concept is central to the architecture of the Lucid Electric Advanced Platform (LEAP) upon which the Lucid Air, and forthcoming Lucid vehicles, will be built. It’s a holistic, clean-sheet approach to advanced EV construction, without using existing “off the shelf” solutions so often seen in EVs from legacy automakers.

Saudi Arabia's Public Investment Fund (PIF) had in 2018 invested more than $1 billion in Lucid Motors. This has allowed the fund to play a pioneering role in developing future industries.

By simultaneously making smaller yet more powerful electric motors and dramatically improving the packaging of the entire electric powertrain, Lucid is able to reclaim that space for passengers and their comfort. This extends the philosophy of hyper-efficiency embedded in every facet of Lucid Air, from energy to spatial efficiency, delivering an unprecedented combination of range, practicality, performance, and luxury, the company said in a statement.

The Space Concept also contributes to the subtly different and modern proportions for the Lucid Air, without relying on any traditional automotive design cues, instead delivering a beautiful car that looks entirely distinctive on the road.

“When we embarked on this journey at Lucid Motors and the development of our first vehicle, the Lucid Air, we refused to compromise. We decided early on that we were going to pursue every facet of performance, innovation, and luxury,” said Derek Jenkins, VP of Design, Lucid Motors. “The result is that we are building the best car in the world, the numbers simply speak for themselves. What’s more, we did all this without ever sacrificing the beauty of the Lucid Air, which will stand as the first example of a car being created from a clean sheet to leverage the total design freedom that an EV architecture provides.”

“The Lucid brand was created with a progressive, post-luxury mindset ideally suited to meet the rapidly evolving needs of the most progressive buyers. We are heading into a future where conscious consumers see sustainability, advanced design, and technical innovation as equally important to more traditional luxury values of quality and craftsmanship,” said Jenkins. “We consider Lucid to be at the forefront in a shift in consumer preferences toward new brands that offer direct relationships alongside products featuring entirely new levels of technology, performance, and design.”

With up to 1,080 horsepower available in a dual-motor, all-wheel-drive architecture, the Lucid Air is able to achieve quarter-mile times as quick as 9.9 seconds on a consistent, repeatable basis. To date, it is the only electric sedan able to achieve a quarter-mile time under 10 seconds. The power of the Lucid Air is complemented by an available extended-range capability that achieves an estimated EPA range of up to 517 miles on a single charge.

When it arrives to market, the Lucid Air will also be the fastest charging electric vehicle ever offered, with the capability to charge at rates of up to 20 miles per minute when connected to a DC Fast Charging network. For owners charging their Lucid Air in real-world conditions on the road, that can translate into 300 miles of range in just 20 minutes of charging.

Lucid Motors drew upon 10 years of experience and over 20 million miles of real-world testing in creating its in-house developed, compact 113kWh extended-range battery pack. Further developed in the world’s leading electric racing championship, Lucid’s race-proven battery technology excels with a custom Battery Management System (BMS), clever cell packaging, and world-class energy density.

The Lucid Air is the world’s most aero-efficient luxury car, with tests completed at Windshear’s advanced rolling-road wind tunnel verifying a coefficient of drag of 0.21.

The Lucid Air’s advanced driver-assistance system (ADAS), Lucid DreamDrive, is a first-of-its-kind platform combining the most comprehensive sensor suite on the market with a cutting-edge Driver Monitoring System (DMS), all standard on the Lucid Air Dream Edition. It is the first system of its kind to offer 32 sensors, covering vision, radar and ultrasonics, plus the world’s first standard high-resolution LIDAR in an EV, all working alongside the standard DMS and geo-fenced HD mapping to provide the safest possible approach to Level 2 and Level 3 driver assistance technologies.

The Lucid Air will be available initially in North America, offered in four model ranges: The Air, the starting point for the lineup, available in 2022 and starting below $80,000; the well-equipped Air Touring model, available late 2021, from $95,000; the fully equipped Air Grand Touring, available mid-2021, from $139,000; the all-inclusive, limited-volume Air Dream Edition, available spring 2021, at $169,000.

Reservations are open now for customers across the US and Canada, as well as in select countries in Europe and the Middle East, including Saudi Arabia and the United Arab Emirates. Production at the Lucid Motors factory in Casa Grande, Arizona, will begin in the coming months, with deliveries of the Lucid Air to North American customers to commence in spring of 2021.

PIF’s investment in Lucid Motors reflects its goals to expand and diversify its international investments. This investment also supports the efforts emphasized in Vision 2030 to build a sustainable future economy that is environmentally-friendly.



World Markets Face Fresh Jolt as Trump Vows Tariffs on Europe Over Greenland

A photo shows containers and transshipment at Maasvlakte, an industrial area in the port of Rotterdam, on July 21, 2025. (AFP)
A photo shows containers and transshipment at Maasvlakte, an industrial area in the port of Rotterdam, on July 21, 2025. (AFP)
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World Markets Face Fresh Jolt as Trump Vows Tariffs on Europe Over Greenland

A photo shows containers and transshipment at Maasvlakte, an industrial area in the port of Rotterdam, on July 21, 2025. (AFP)
A photo shows containers and transshipment at Maasvlakte, an industrial area in the port of Rotterdam, on July 21, 2025. (AFP)

Global markets face a fresh bout of volatility this week after President Donald Trump vowed to slap tariffs on eight European nations until the US is allowed to buy Greenland.

Trump said he would impose an additional 10% import tariffs from February 1 on goods from Denmark, Norway, Sweden, France, Germany, the Netherlands, Finland and Britain, which will rise to 25% on June 1 if no deal is reached.

The eight European states issued a joint statement backing Greenland on Sunday, while Ireland's prime minister said the European Union will retaliate if US tariff threats against Europe materialize.

"Hopes that the tariff situation has calmed down for this year have been dashed for now - and we find ourselves in the same situation as last spring," said Berenberg chief economist Holger Schmieding.

Sweeping "Liberation Day" tariffs in ‌April 2025 sent shockwaves ‌through markets. Investors then largely looked past Trump trade threats in the second ‌half ⁠of the year, ‌viewing them as noise and responding with relief as Trump made deals with Britain, the EU and others.

While that lull might be over, market moves on Monday could be dampened by the experience that investor sentiment had been more resilient and global economic growth stayed on track.

Nonetheless, Schmieding expected the euro could come under some pressure when Asian trade begins. The euro ended Friday at around $1.16 against the dollar, having hit its lowest levels since late November.

Implications for the dollar were less clear. It remains a safe haven, but could also feel the impact of Washington being at the center of geopolitical ruptures, as it did ⁠last April.

"For European markets it will be a small setback, but not something comparable to the Liberation Day reaction," Schmieding said.

European stocks are trading near record ‌highs, with Germany's DAX and London's FTSE index up more than 3% this ‍month, outperforming the S&P 500, which is up 1.3%.

European defense ‍shares are likely to benefit from geopolitical tensions. Defense stocks have jumped almost 15% this month, as the US ‍seizure of Venezuela's Nicolas Maduro fueled concerns about Greenland.

Denmark's closely managed crown will also likely be in focus. It has weakened, but rate differentials are a major factor and it remains close to the central rate at which it is pegged to the euro and is not far from six-year lows.

"The US-EU trade war is back on," said Tina Fordham, geopolitical strategist and founder of Fordham Global Foresight. Trump's latest move came as top officials from the EU and South American bloc Mercosur signed a free trade agreement.

'UNTHINKABLE SORTS OF DEVELOPMENTS'

The dispute over Greenland is just one hot ⁠spot.

Trump has also weighed intervening in unrest in Iran, while a threat to indict Federal Reserve Chair Jerome Powell has reignited concerns about its independence.

Against this backdrop, safe-haven gold remains near record highs.

"Markets at this point are expected to reopen this week in 'risk-off' mode," said IG market analyst Tony Sycamore.

"This latest flashpoint has heightened concerns over a potential unravelling of NATO alliances and the disruption of last year’s trade agreements with several European nations, driving risk-off sentiment in stocks and boosting safe-haven demand for gold and silver."

The World Economic Forum's annual risk perception survey, released before its annual meeting in Davos, which will be attended by Trump, identified economic confrontation between nations as the number one concern replacing armed conflict.

While investors have grown increasingly wary of geopolitical risk, they have also become used to it to some extent.

"Investor sentiment has proven quite resilient in the face of the sort of continuing unthinkable sorts of developments, which probably reflects a combination of like faith that Trump just won't ‌be able to do all of the things that he talks about mixed with a sense that none of this kind of moves the needle on asset prices," said Fordham.


Dar Global CEO: Saudi Arabia Emerges as One of the World’s Most Attractive Property Markets

Ziad El Chaar, Chief Executive Officer of Dar Global, attends an interview with Reuters, in Dubai, United Arab Emirates, April 29, 2025. REUTERS/Amr Alfiky
Ziad El Chaar, Chief Executive Officer of Dar Global, attends an interview with Reuters, in Dubai, United Arab Emirates, April 29, 2025. REUTERS/Amr Alfiky
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Dar Global CEO: Saudi Arabia Emerges as One of the World’s Most Attractive Property Markets

Ziad El Chaar, Chief Executive Officer of Dar Global, attends an interview with Reuters, in Dubai, United Arab Emirates, April 29, 2025. REUTERS/Amr Alfiky
Ziad El Chaar, Chief Executive Officer of Dar Global, attends an interview with Reuters, in Dubai, United Arab Emirates, April 29, 2025. REUTERS/Amr Alfiky

As global investors reassess their priorities, Saudi Arabia has firmly positioned itself as one of the world’s most attractive real estate markets and among the largest within the G20, according to Ziad El Chaar, CEO of Dar Global.

Annual real estate transactions in the Kingdom are approaching $100 billion, a scale that El Chaar says makes Saudi Arabia impossible to ignore over the coming decade.

“Any investor who overlooks the Saudi market in the next ten years will undoubtedly be a loser,” El Chaar told Asharq Al-Awsat, pointing to a market that consistently injects around $100 billion annually into real estate activity.

Beyond the numbers, El Chaar highlighted what he described as Saudi Arabia’s “proactive and forward-looking vision,” noting that the Kingdom has succeeded where many Western capitals have faltered.

By establishing a clear regulatory framework that distinguishes between local and foreign property ownership, Saudi Arabia has managed to protect domestic demand while simultaneously opening its doors to global capital.

This regulatory maturity, he said, prompted Dar Global to significantly expand its investment exposure in the Kingdom to SAR 38 billion (approximately $10 billion), through a series of exclusive developments branded with the Trump Organization.

El Chaar said Saudi Arabia now ranks among the largest real estate markets in the G20, driven by heavy infrastructure spending, the hosting of major international events, rapid growth in aviation and tourism, and investor-friendly policies. Together, these factors have made the Kingdom one of the most compelling real estate destinations worldwide.

He also praised Saudi Arabia’s regulatory foresight, particularly the zoning of areas for local versus foreign ownership and the introduction of minimum thresholds for foreign investment. He said these measures prevent market distortions and protect local buyers, an achievement that many Western economies have struggled to replicate.

El Chaar stressed the role of the General Real Estate Authority in organizing the sector and safeguarding investor interests, noting that while regulations may be stringent for developers, they provide long-term stability and fairness for all market participants.

Flagship Developments

Dar Global has recently launched several large-scale projects in Saudi Arabia in partnership with the Trump Organization, with a combined value of about SAR 38 billion.

El Chaar said the developments position the company as the largest non-government real estate developer in the Kingdom and reflect strong confidence in local demand, as well as the group’s ability to attract foreign investors.

The company is currently developing two projects in Riyadh and one in Jeddah. The CEO reiterated that any foreign real estate investor who fails to include Saudi Arabia in their portfolio over the next decade risks missing out on one of the world’s fastest-transforming economies.

Among Dar Global’s most prominent Riyadh projects is Saffar Valley, spanning 2.6 million square meters. The gated development will feature palaces only, surrounded by a Trump-branded golf course and a Trump Hotel, targeting an elite segment of global investors. El Chaar said the project stands out regionally for its scale, exclusivity, and prime location.

Jeddah Expansion

In Jeddah, Dar Global recently announced Trump Plaza, following the strong performance of Trump Tower Jeddah. The mixed-use project will be located on King Abdulaziz Road and will include Grade A offices, retail space, serviced apartments, and residential units overlooking a central park equivalent in size to a football field.

Timelines and Growth

Construction has already begun on the two main developments, with completion expected before 2030. Trump Tower Jeddah has entered the execution phase, with a main contractor appointed and delivery scheduled within 30 to 33 months.

El Chaar said Dar Global spent the past four and a half years building a strong institutional platform in the region, enabling its investment portfolio to grow from $7 billion last year to between $23 billion and $25 billion today. He added that the company’s move to the Premium segment of the London Stock Exchange enhances its eligibility for inclusion in major global indices.

On market capacity, El Chaar said domestic demand alone is sufficient to support Saudi real estate growth, while Dar Global’s specialized, high-end developments target a different segment and act as an additional magnet for foreign capital.

He concluded that Saudi Arabia’s cultural and regulatory transformation - from visa facilitation to tourism development and openness to foreign investment - has made the Kingdom one of the world’s most attractive destinations.

“Today, investors arrive in Saudi Arabia to a welcoming environment,” he said. “Small details, but they make a big difference in investment decisions.”

 

 

 


Europeans Reeling as Trump Imposes Tariffs on 8 Countries Over Greenland Dispute

A woman uses a shovel to clear a footpath from now and ice on January 16, 2026 in Nuuk, Greenland. (AFP)
A woman uses a shovel to clear a footpath from now and ice on January 16, 2026 in Nuuk, Greenland. (AFP)
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Europeans Reeling as Trump Imposes Tariffs on 8 Countries Over Greenland Dispute

A woman uses a shovel to clear a footpath from now and ice on January 16, 2026 in Nuuk, Greenland. (AFP)
A woman uses a shovel to clear a footpath from now and ice on January 16, 2026 in Nuuk, Greenland. (AFP)

Europeans were reeling Sunday from US President Donald Trump's announcement that eight countries will face 10% tariff for opposing American control of Greenland.

The responses to Trump's decision on Saturday ranged from saying it risked “a dangerous downward spiral” to predicting that “China and Russia must be having a field day.”

Trump's threat sets up a potentially dangerous test of US partnerships in Europe. Several European countries have sent troops to Greenland in recent days, saying they are there for Arctic security training. Trump's announcement came Saturday as thousands of Greenlanders were wrapping up a protest outside the US Consulate in the capital, Nuuk.

The Republican president appeared to indicate that he was using the tariffs as leverage to force talks with Denmark and other European countries over the status of Greenland, a semiautonomous territory of NATO ally Denmark that he regards as critical to US national security. Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands and Finland would face the tariff.

There are immediate questions about how the White House could try to implement the tariffs because the EU is a single economic zone in terms of trading, according to a European diplomat who was not authorized to comment publicly and spoke on the condition of anonymity. It was unclear, too, how Trump could act under US law, though he could cite emergency economic powers that are currently subject to a US Supreme Court challenge.

European Union foreign policy chief Kaja Kallas said China and Russia will benefit from the divisions between the US and the Europe. She added in a post on social media: “If Greenland’s security is at risk, we can address this inside NATO. Tariffs risk making Europe and the United States poorer and undermine our shared prosperity."

Trump's move also was panned domestically.

US Sen. Mark Kelly, a former US Navy pilot and Democrat who represents Arizona, posted that Trump’s threatened tariffs on US allies would make Americans “pay more to try to get territory we don’t need.”

“Troops from European countries are arriving in Greenland to defend the territory from us. Let that sink in,” he wrote on social media. “The damage this President is doing to our reputation and our relationships is growing, making us less safe. If something doesn’t change we will be on our own with adversaries and enemies in every direction.”

‘Risk a dangerous downward spiral’

Norway and the UK are not part of the 27-member EU, which operates as a single economic zone in terms of trading. It was not immediately clear if Trump's tariffs would impact the entire bloc. EU envoys scheduled emergency talks for Sunday evening to determine a potential response.

António Costa, president of the European Council, and Ursula von der Leyen, president of the European Commission, pledged to continue their full solidarity with Denmark and Greenland.

“Tariffs would undermine transatlantic relations and risk a dangerous downward spiral. Europe will remain united, coordinated, and committed to upholding its sovereignty,” they wrote in a joint statement late Saturday.

The tariff announcement even drew blowback from Trump's populist allies in Europe.

Jordan Bardella, president of Marine Le Pen’s far-right National Rally party in France and also a European Parliament lawmaker, posted that the EU should suspend last year’s tariff deal with the US, describing Trump’s threats as “commercial blackmail.”

Trump also achieved the rare feat of uniting Britain’s main political parties, including the hard-right Reform UK party, all of whom criticized the tariff threat.

“We don’t always agree with the US government and in this case we certainly don’t. These tariffs will hurt us,” Reform UK leader Nigel Farage, a longtime champion and ally of Trump, wrote on social media. He stopped short of criticizing Trump's designs on Greenland.

Meanwhile, UK Prime Minister Keir Starmer, who leads the center-left Labour Party, said the tariffs announcement was “completely wrong” and his government would “be pursuing this directly with the US administration.”

The foreign ministers of Denmark and Norway are also expected to address the crisis Sunday in Oslo during a news conference.