Lucid Group Inc., backed by Saudi Arabia‘s sovereign wealth fund, is advocating for tariffs on foreign vehicles to strengthen the kingdom’s nascent auto manufacturing sector and reduce its heavy reliance on imports. Interim CEO Marc Winterhoff stressed the urgency of…
Tesla‘s stock surged 4.1% on Wednesday, closing at $347.60, as investors rallied behind the company’s focus on self-driving technology and new electric vehicle (EV) models. According to a Barron’s report, the excitement stems from Tesla’s upcoming robotaxi service and its…
Tesla‘s electric vehicle (EV) sales in China took a hit in April, falling 6% year-over-year, as the U.S. automaker faces fierce competition from Chinese rivals and struggles with a tarnished image in Europe, according to a recent Reuters report. This…
On May 6, 2025, Lucid Group will unveil its first-quarter financials, a critical moment for the luxury electric vehicle (EV) maker as it gears up for the Lucid Gravity SUV launch. With Lucid’s Investor Relations reporting a 58% surge in…
On April 21, 2025, Saudi Aramco, the world’s largest oil company, announced a groundbreaking joint development agreement with Chinese electric vehicle (EV) manufacturer BYD to explore new energy vehicle technologies. The deal, signed through Aramco’s subsidiary Saudi Aramco Technologies Company…
On April 14, 2025, Tesla introduced a Long Range Rear-Wheel Drive (RWD) Cybertruck priced at $69,990, a $10,000 saving over the $79,990 All-Wheel Drive (AWD) model. Announced on Tesla’s official website, this trim boasts a 350-mile range but omits all-wheel…
On April 13, 2025, Lucid Motors seized a pivotal opportunity by acquiring the Arizona facilities of Nikola, a once-hyped electric vehicle (EV) and hydrogen truck manufacturer, for $30 million following Nikola’s Chapter 11 bankruptcy filing in February. The deal, announced…
On April 10, 2025, Tesla officially opened its doors in Saudi Arabia, a move signaling both a reconciliation between CEO Elon Musk and the kingdom’s leadership and a bold step toward the country‘s aggressive electric vehicle (EV) adoption goals, as…
Lucid Motors announced on February 25, 2025, that CEO Peter Rawlinson is stepping down effective immediately, transitioning to the role of Strategic Technical Advisor to the Chairman of the Board. Chief Operating Officer Marc Winterhoff has been named interim CEO…
Saudi Arabia‘s first electric vehicle manufacturer Ceer is taking a major step forward in its EV development through a new partnership with Rimac Technology to supply advanced Electric Drive Systems (EDS) for its upcoming flagship vehicles. Strategic Partnership Details The…
Lucid, the electric vehicle startup that’s made waves with its Air sedan, is gearing up for a major expansion. According to a recent MotorTrend report, the company’s ambitious plans include launching the Lucid Gravity SUV and developing a new midsize…
Lucid Motors is gearing up to take on Tesla with a new mid-size electric SUV, set to launch in late 2026. This vehicle, expected to start around $48,000 to $50,000, is designed to compete directly with the Tesla Model Y.…
Lucid Motors, the luxury electric vehicle (EV) company, is cutting about 400 jobs as the EV industry faces slow growth. According to a recent SEC filing, this layoff round will affect 6% of Lucid’s staff by the end of October,…
As the electric vehicle (EV) market continues to burgeon, California-based automaker Lucid is taking bold strides to solidify its position globally. The company’s latest venture? A brand-new manufacturing hub in Saudi Arabia. Lucid’s Journey in 2023 The journey for Lucid…
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