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.



Abu Dhabi Ports Signs MoU to Develop, Operate Shuaiba Container Terminal in Kuwait

Containers are seen at Abu Dhabi's Khalifa Port, UAE, December 11, 2019. REUTERS/Satish Kumar
Containers are seen at Abu Dhabi's Khalifa Port, UAE, December 11, 2019. REUTERS/Satish Kumar
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Abu Dhabi Ports Signs MoU to Develop, Operate Shuaiba Container Terminal in Kuwait

Containers are seen at Abu Dhabi's Khalifa Port, UAE, December 11, 2019. REUTERS/Satish Kumar
Containers are seen at Abu Dhabi's Khalifa Port, UAE, December 11, 2019. REUTERS/Satish Kumar

Kuwait Ports Authority (KPA) said on Monday it had signed a memorandum of understanding with Abu Dhabi Ports Group to develop and operate the container terminal at Kuwait’s Shuaiba port under a concession agreement.

Shuaiba port, established in the 1960s, is Kuwait’s oldest port. It covers a total area of 2.2 million square metres (543.63 acres) and has 20 berths, while the container terminal has a storage area of 318,000 sqare metres, according to KPA’s website.

The port, located about 60 km (37.3 miles) south of the capital, handles commercial cargo, heavy equipment, raw materials and chemicals essential to various industries.

The MoU represents “the first preliminary step” toward concluding a concession contract, subject to the completion of required studies, KPA said in a statement without disclosing the value of the deal, Reuters reported.

Under the agreement, Abu Dhabi Ports Group will prepare the technical, environmental and financial studies needed for the project, including infrastructure requirements.


Iran’s Rial Currency Plummets to New Low, Sparking Fears of Higher Food Prices

An Iranian trader counts money in Tehran's Grand Bazaar. (Reuters)
An Iranian trader counts money in Tehran's Grand Bazaar. (Reuters)
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Iran’s Rial Currency Plummets to New Low, Sparking Fears of Higher Food Prices

An Iranian trader counts money in Tehran's Grand Bazaar. (Reuters)
An Iranian trader counts money in Tehran's Grand Bazaar. (Reuters)

Iran’s rial slid further Monday to a new record low of more than 1.3 million to the US dollar, deepening the currency’s collapse less than two weeks after it first breached the 1.2-million mark amid sanctions pressure and regional tensions.

Currency traders in Tehran quoted the dollar above 1.3 million rials, underscoring the speed of the decline since Dec. 3, when the rial hit what was then a historic low.

The rapid depreciation is compounding inflationary pressures, pushing up prices for food and other daily necessities and further straining household budgets, a trend that could be intensified by a gasoline price change introduced in recent days.

Iran on Saturday added a third gasoline price tier, raising the cost of full bought beyond monthly quotes at 50,000 rials (4 US cents). It is the first major adjustment to fuel pricing since a price hike in 2019 that sparked nationwide protests and a crackdown that reportedly killed over 300 people.

Under the revised system, motorists continue to receive 60 liters a month at the subsidized rate of 15,000 rials per liter and another 100 liters at 30,000 rials, but any additional purchases now cost more than three times the original subsidized price. While gasoline in Iran remains among the cheapest in the world, economists warn the change could feed inflation at a time when the rapidly weakening rial is already pushing up the cost of food and other basic goods.

The fall comes as efforts to revive negotiations between Washington and Tehran over Iran’s nuclear program appear stalled, while uncertainty persists over the risk of renewed conflict following June’s 12-day war involving Iran and Israel. Many Iranians also fear the possibility of a broader confrontation that could draw in the United States, adding to market anxiety.

Iran’s economy has been battered for years by international sanctions, particularly after Donald Trump unilaterally withdrew the United States from Tehran’s nuclear deal with world powers in 2018. At the time the 2015 accord was implemented — which sharply curtailed Iran’s uranium enrichment and stockpiles in exchange for sanctions relief — the rial traded at about 32,000 to the dollar.

After Trump returned to the White House for a second term in January, his administration revived a “maximum pressure” campaign, expanding sanctions that target Iran’s financial sector and energy exports. Washington has again pursued firms involved in trading Iranian crude oil, including discounted sales to buyers in China, according to US statements.

Further pressure followed in late September, when the United Nations reimposed nuclear-related sanctions on Iran through what diplomats described as the “snapback” mechanism. Those measures once again froze Iranian assets abroad, halted arms transactions with Tehran and imposed penalties tied to Iran’s ballistic missile program.

Economists warn that the rial’s accelerating decline risks feeding a vicious cycle of higher prices and reduced purchasing power, particularly for staples such as meat and rice that are central to Iranian diets. For many Iranians, the latest record low reinforces concerns that relief remains distant as diplomacy falters and sanctions tighten.


Industry Minister Inaugurates Made in Saudi Expo 2025

Industry Minister Inaugurates Made in Saudi Expo 2025
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Industry Minister Inaugurates Made in Saudi Expo 2025

Industry Minister Inaugurates Made in Saudi Expo 2025

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef inaugurated the third Made in Saudi Expo 2025 at the Riyadh International Convention and Exhibition Center in Malham, organized by the Saudi Export Development Authority through the Made in Saudi Program, with Syria’s Minister of Economy and Industry Dr. Mohammad Nidal al-Shaar in attendance.

The Syrian Arab Republic has been invited as the Guest of Honor at the exhibition, which has attracted strong participation from public and private sector organizations, as well as leading national manufacturers and industry leaders, SPA reported.

In his opening remarks, Alkhorayef emphasized that the exhibition serves as a key platform for showcasing advancements in Saudi industry, the quality of its products, and their competitiveness in local and international markets. He added that it is also an important venue for establishing strategic partnerships that support the growth of national industries.

He pointed out that the Made in Saudi Program, launched in 2021 under the esteemed patronage of HRH the Crown Prince, reflects the Kingdom's ambition to become a leading industrial power. Achieving this goal involves building consumer trust in its products and services in both domestic and global markets by nurturing local talent and innovation, promoting national products, and strengthening companies’ capabilities to expand internationally.

He also highlighted that Saudi non-oil exports have achieved remarkable success, reaching SAR515 billion in 2024, with historic results in the first half of 2025, demonstrating the highest half-year value of SAR307 billion. These figures underscore the industry’s vital role in diversifying the national economy in line with the objectives of Saudi Vision 2030.

The opening ceremony also welcomed the Syrian Arab Republic as this year’s Guest of Honor, highlighting the participation of more than 25 Syrian companies to present opportunities for industrial cooperation and integration, reflecting the strong fraternal ties between the two nations.

Alongside the exhibition, over 25 workshops are being conducted, while more than 50 memoranda of understanding are set to be signed.