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Lucid reveals Midsize EV platform and robotaxi concept

The new Midsize platform will underpin Lucid’s next generation of vehicles, including the Lucid Cosmos and Lucid Earth SUVs

Rajiv Pillai
Rajiv Pillai

13 March, 2026

Lucid reveals Midsize EV platform and robotaxi concept
Lucid Lunar/Image: Supplied

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Lucid unveiled a strategy to achieve profitability through scaling production, expanding into higher-volume segments with a new Midsize platform and sub-$50,000 vehicles. Key initiatives include the Atlas drive unit, AI assistant, and a robotaxi concept (Lunar). Collaboration with Uber aims for large-scale deployment of Midsize platform vehicles. The plan focuses on capital efficiency, cost discipline, and diversified revenue streams.

Electric vehicle maker Lucid Group has unveiled a sweeping financial and product strategy aimed at scaling its business, expanding into higher-volume premium segments, and accelerating its path toward profitability and positive free cash flow.

The announcements were made during the company’s investor day in New York, where Lucid detailed plans for its upcoming Midsize platform, revealed a next-generation Atlas electric drive unit, and previewed new software capabilities including an in-vehicle AI assistant and an updated autonomy roadmap.

The company also confirmed progress in its strategic partnership with Uber, with both firms working toward an agreement to deploy vehicles built on Lucid’s Midsize platform at scale, similar to the Gravity robotaxi programme.

Lucid said the combined product and financial strategy reflects a broader push to leverage its technology leadership while improving capital efficiency and cost discipline.

“Lucid has already proven its capabilities through technology and product leadership,” said Marc Winterhoff, interim CEO at Lucid. “Today, we’re keeping the same Lucid product and technology DNA intact, while applying increased scale, capital efficiency, and cost discipline, and materially reduced costs, to enable a great business with a clear and credible path to profitability and free cash flow, supported by what we are executing now and what we are building for the future.”

Uber CEO Dara Khosrowshahi highlighted the strategic value of the collaboration as autonomous mobility expands globally.

“We view Lucid as a key strategic partner as we continue to rapidly deploy autonomous vehicles around the world,” said Khosrowshahi. “Lucid’s unmatched efficiency, autonomy-ready vehicle architectures, and customer-centric approach give us confidence in our ability to deliver autonomous mobility together at global scale.”

New robotaxi concept unveiled

As part of the product roadmap, Lucid introduced Lunar, a two-seat robotaxi concept based on the upcoming Midsize platform. While still at the concept stage, the vehicle is designed to maximise efficiency, utilisation and lifetime operating economics for commercial autonomous fleets.

Lucid said its strategy is anchored in near-term execution, with a strong focus on scaling production of the Lucid Gravity SUV, expanding global commercial operations, and advancing software and service offerings.

Key drivers of the company’s profitability roadmap include expanding its addressable market through the Midsize platform, improving manufacturing efficiency and reducing material costs, diversifying revenue streams through software and services, and pursuing capital-efficient partnerships.

“Lucid’s technology leadership is now fully aligned with a business model designed for scale,” said Taoufiq Boussaid, CFO at Lucid. “While the Midsize platform fundamentally improves unit economics in the mid-term, near-term progress is driven by scaling Gravity, disciplined capital deployment, and diversified revenue streams that accelerate our path to sustainable profitability and positive free cash flow.”

Entering the high-volume premium EV segment

The new Midsize platform will underpin Lucid’s next generation of vehicles, including the Lucid Cosmos and Lucid Earth SUVs. The vehicles are expected to start at below $50,000, positioning the company to compete in higher-volume segments while maintaining the performance and efficiency associated with the brand.

“With Midsize, we didn’t compromise what makes a Lucid special, we engineered it to scale,” said Derek Jenkins, senior vice president of Design and Brand at Lucid. “These vehicles deliver unmistakable Lucid design and driving characteristics, while embracing a radically simpler, more efficient approach to manufacturing and cost.”

Efficiency remains a core pillar of Lucid’s strategy. The company says its engineering approach allows vehicles to achieve competitive driving ranges with smaller battery packs, a key factor given batteries can account for up to 40 per cent of an electric vehicle’s total cost.

“Our efficiency leadership directly translates into cost leadership with our Midsize platform,” said Emad Dlala, senior vice president of Engineering and Software at Lucid. “Smaller batteries, fewer parts, and tighter integration mean lower cost, better performance, and a superior customer experience, all at the same time.”

Central to the new platform is the Atlas electric drive unit, which Lucid says is smaller, lighter and simpler than previous designs. The system uses identical front and rear housings to improve manufacturing efficiency while supporting large-scale production.

“By designing the entire vehicle as one integrated system, Lucid has raised the bar for electric vehicles,” said Winterhoff. “With Midsize, that same approach delivers best-in-class products and a scalable, profitable business model that positions our vehicles to compete and win against combustion powered alternatives at scale.”

Read: Lucid sees slower 2026 production growth as fear of supply-chain snags lingers

Anthropic invests $100m into Claude AI programme

Membership in the Claude Partner Network is free and open to any organisation involved in bringing Claude to market

Reuters
Reuters

13 March, 2026

Anthropic invests $100m into Claude AI programme
Image: Anthropic

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Anthropic launched the Claude Partner Network, investing $100M initially, to help enterprises adopt its Claude AI model via training and support. The free program offers certification and investment opportunities. This expansion occurs amidst a dispute with the Pentagon, who labeled Anthropic a supply-chain risk, potentially costing billions.

Artificial intelligence lab Anthropic, which is currently locked in a dispute with the Pentagon, unveiled its Claude Partner Network on Thursday, a programme designed for partner firms to help enterprises adopt its Claude AI model.

Anthropic is committing an initial $100m to this network for 2026 to provide training, technical support and joint market development for partner organisations.

The company expects to invest even more over time.

Partners joining the network from Thursday will receive immediate access to a new technical certification and be eligible for investment under the programme.

Membership in the Claude Partner Network is free

The company plans to expand its partner-facing team fivefold, adding dedicated applied AI engineers, technical architects and localised go-to-market support in international markets.

Membership in the Claude Partner Network is free and open to any organisation involved in bringing Claude to market.

The AI firm is seeking a stay from a US appeals court after the Pentagon said the company was a supply-chain risk, pending a judicial review of the case, adding that the designation could cost it billions of dollars in lost revenue.

DIFC launches PropTech 2033 roadmap for Dubai’s real estate future

Based at the DIFC Innovation Hub, the Dubai PropTech Hub currently tracks 231 UAE-based PropTech companies, with strong activity in listings, investment and marketing platforms

Gulf Business
Gulf Business

12 March, 2026

DIFC launches PropTech 2033 roadmap for Dubai’s real estate future
Image credit: Getty Images

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Dubai's PropTech 2033 report envisions PropTech as a key driver of economic growth, identifying potential for AED53bn annually. PropTech is evolving into AI-driven urban infrastructure. Dubai, supported by strategic policies, aims to lead this innovation. The Dubai PropTech Hub launched a "Global Landing Pad" program to attract international scale-ups, solidifying Dubai's position as a global PropTech hub.

The Dubai PropTech Hub, an initiative of the Dubai International Financial Centre (DIFC), in partnership with Dubai Land Department, has released a new white paper titled PropTech 2033, outlining the future growth trajectory of the emirate’s PropTech sector.

The report analyses 18 strategic agendas from the UAE and the United Nations to map the next phase of PropTech development in Dubai. These include the Dubai Economic Agenda D33, the Dubai Real Estate Strategy 2033 and the Dubai Urban Master Plan 2040.

Taking into account economic, social and environmental sustainability considerations, the analysis identified 833 global PropTech business models focused on improving quality of life and driving economic growth in the real estate sector. The study also found that just two of these business models alone could generate more than AED53bn annually for Dubai’s economy.

The white paper highlights a structural shift in the global built environment, noting that PropTech is evolving beyond digital tools toward AI-native, system-level urban infrastructure that integrates planning, operations, sustainability and user experience. According to the report, this transformation is redefining how value is created across the real estate ecosystem.

The research concludes that Dubai is well positioned to lead this next phase of urban innovation, supported by its strategic policy frameworks, regulatory environment, technological ambition and global economic vision.

As part of the initiative, the Dubai PropTech Hub has opened applications for its inaugural “Global Landing Pad” programme, designed to help international PropTech scale-ups expand into Dubai and the wider Middle East, Africa and South Asia (MEASA) region. The programme will connect participants with mentors and industry experts, including leading developers and operators such as Binghatti, Majid Al Futtaim, Union Properties, Sobha and Transguard Group.

Mohammad AlBlooshi, chief executive officer of DIFC Innovation Hub commented: “DIFC’s PropTech 2033 whitepaper demonstrates that PropTech is no longer a peripheral enabler of real estate, but an engine of economic growth, productivity, and urban resilience. This whitepaper reinforces DIFC’s commitment to positioning Dubai as the global epicentre for PropTech innovation and sustainable urban growth, whilst accelerating the Emirate’s ambitions of doubling the economic contribution of the sector by 2033.”

Majid Al Marri, CEO of the Real Estate Registration Sector at Dubai Land Department, said: “The PropTech 2033 white paper reaffirms Dubai’s commitment to future-proofing its real estate sector through innovation, data, and advanced technologies that strengthen transparency and investor confidence. This direction is reflected in the Dubai PropTech Hub, established in partnership between Dubai International Financial Centre and Dubai Land Department, and reinforced by hosting PropTech Connect Middle East. Together, these initiatives advance the Dubai Economic Agenda D33 and the Dubai Real Estate Strategy 2033, enhancing global competitiveness and ensuring the long-term sustainability of Dubai’s real estate ecosystem.”

Based at the DIFC Innovation Hub, the Dubai PropTech Hub currently tracks 231 UAE-based PropTech companies, with strong activity in listings, investment and marketing platforms. The report highlights significant opportunities to expand into areas such as climate resilience, productivity enhancement and AI-driven property operations.

Dubai’s PropTech ambitions are also aligned with the expansion of DIFC into the Zabeel District, which will include more than one million square feet dedicated to innovation, including what is expected to become the world’s largest innovation hub and the first purpose-built AI Campus. The expansion forms part of Dubai’s strategy to position itself among the world’s top four global financial centres under the Dubai Economic Agenda (D33), while incorporating sustainable infrastructure, energy-efficient design and smart mobility systems.

Dr Faiez Ghanam on building a science-led dermatology clinic in Dubai

The dermatologist and founder discusses why he chose Dubai as the base for his practice, how he differentiates in a competitive aesthetics market, and the role innovation plays in shaping the clinic’s growth

Gulf Business
Gulf Business

12 March, 2026

Dr Faiez Ghanam on building a science-led dermatology clinic in Dubai

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Dr. Ghanam established a Dubai dermatology clinic to restore scientific rigor to dermatological care, balancing medical treatments with advanced cosmetic procedures. He differentiates his clinic through high-quality service, investing in advanced technology and a specialized team, not price competition. Dubai's accessibility, technology access, and flexible regulations make it ideal for growth, focusing on continuous innovation and comprehensive patient care.

Dubai has rapidly become one of the world’s leading hubs for dermatology and aesthetic medicine, attracting international expertise, advanced technologies and patients from across the globe.

For Dr Faiez Ghanam, founder of a dermatology and cosmetic clinic in the city, the opportunity lies not only in aesthetics but also in restoring a strong scientific focus to dermatological care. Drawing on experience from earlier clinics in Syria and Qatar, he has built a practice that aims to balance medical dermatology with advanced cosmetic procedures.

In this interview, Dr Ghanam discusses the motivation behind launching his clinic in Dubai, how the practice differentiates itself in a competitive market, and the trends shaping the future of dermatology and aesthetic medicine.

What motivated you to establish your own dermatology and cosmetic clinic in Dubai, and how has your original vision evolved since launch?

My goal has always been to establish a comprehensive centre for dermatological diseases in Dubai based on scientific practice and continuous advancement.

I noticed that this speciality was gradually being neglected, with many dermatology centres and doctors focusing primarily on cosmetic procedures rather than medical treatment. As a result, patients suffering from dermatological diseases were often being overlooked and their conditions were not receiving the necessary scientific attention in terms of diagnosis and treatment.

This has been my passion since establishing my first clinic in Syria and later expanding with a clinic in Qatar. From the beginning, I have been committed to maintaining a balance between treating dermatological diseases and offering the latest non-surgical cosmetic procedures using the most advanced global technologies.

Dubai is a highly competitive market for aesthetics and dermatology. How do you differentiate your clinic from others in the sector?

Dubai is indeed a highly competitive market due to the presence of diverse international expertise, and investment in the city is very promising.

However, I have always avoided competing on price. Instead, my focus has been on delivering the highest possible quality by investing in the most advanced medical devices available globally and building a fully integrated medical team.

This includes specialised dermatologists, cosmetic doctors, and a highly trained team of nurses and specialists who hold advanced certifications. Our competition is therefore based on quality and uniqueness in treatment approaches rather than pricing.

How important has Dubai been to the clinic’s growth, and what makes the city an ideal base for building and scaling a premium dermatology and aesthetic practice?

Dubai is a global destination for people travelling for investment, residency and increasingly for medical treatment.

One of the city’s biggest advantages is accessibility. Patients from almost every nationality can reach Dubai easily, which means many of my international patients can access our centre here more conveniently than in other locations.

In addition, Dubai provides access to the latest global technologies and facilitates communication with specialised international companies. The regulatory environment is also flexible, making it easier to import advanced medical equipment and resources.

For these reasons, Dubai was the first choice when it came to investing in science and medicine.

How do you approach investment in new technologies, treatments and talent, and what role does innovation play in driving the clinic’s growth?

Continuous development is the most important factor in advancing our medical centre. We constantly update our technologies and ensure that we are aligned with the latest therapeutic devices and techniques.

However, these technologies must be globally recognised and approved by leading regulatory authorities in Europe, the United States and other regions.

Another key element is investing in the development of the medical team through training courses, scientific workshops and participation in international medical conferences and exhibitions.

In simple terms, staying up to date in every aspect—technology, knowledge and training—is essential, alongside relying on precise scientific references to achieve advanced clinical outcomes for our patients.

From a business perspective, how do you define and measure success for the clinic today?

From a business perspective, the venture has been very successful. The centre has developed steadily and continues to grow and prosper in a very satisfying way.

This consistent growth reflects both patient trust and the strong demand for high-quality dermatological care in Dubai.

Looking ahead, what trends in dermatology and aesthetic medicine do you believe will shape your strategy over the next three to five years?

My long-term ambition is to establish a fully integrated specialised dermatology centre that provides comprehensive care from A to Z.

This would include advanced treatments, modern medical technologies and personalised treatment plans tailored to each patient based on precise diagnosis.

The centre would also include a fully integrated pharmacy department to support these treatments, as well as the latest cosmetic procedures.

In addition, we aim to develop an advanced training department dedicated to educating medical professionals—including doctors, specialists and nurses—on the latest dermatological treatments and technologies. This would include certified programmes in laser technologies and professional skincare practices within a comprehensive and accredited framework.

Gold slips as dollar strengthens, rate cut hopes fade

The US dollar firmed 0.2 per cent, making dollar-priced bullion more expensive for holders of other currencies

Reuters
Reuters

12 March, 2026

Gold slips as dollar strengthens, rate cut hopes fade
Image: Getty Images

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Gold prices declined due to a stronger dollar and diminished expectations for near-term US interest rate cuts. Rising energy prices, driven by Middle East conflict and Iranian actions, fueled inflation concerns, prompting Goldman Sachs to delay Fed rate cut forecasts. US CPI data matched expectations, and investors await the PCE index. Silver and platinum also fell, while palladium rose.

Gold prices fell on Thursday, weighed down by a firmer US dollar and waning hopes for near‑term US interest‑rate cuts as higher energy prices stoked inflation concerns.

Spot gold was down 0.4 per cent at $5,153.79 per ounce as of 0545 GMT. US gold futures for April delivery fell 0.4 per cent to $5,159.20.

The US dollar firmed 0.2 per cent, making dollar-priced bullion more expensive for holders of other currencies.

“I think the USD strength and interrelated rates story is a slight headwind for gold despite the actual violence that’s taking place, which is otherwise supportive of gold,” said Nicholas Frappell, global head of institutional markets at ABC Refinery.

Iran said the world should brace for $200-a-barrel oil after its forces struck merchant ships on Wednesday, while the International Energy Agency urged a massive release of strategic reserves to blunt one of the worst oil shocks since the 1970s.

Oil prices rose over $100 a barrel, adding to inflation pressures, as Iran stepped up attacks on oil and transport facilities across the Middle East.

Iran has deployed about a dozen mines in the strait, according to sources, a move that could complicate efforts to reopen the narrow waterway, a key route for global oil and liquefied natural gas shipments.

Tankers in the strait have been stranded for more than a week, and producers have suspended output as storage nears capacity.

Goldman Sachs has delayed its forecast for US Federal Reserve rate cuts, and now expects quarter-point reductions in September and December, citing rising inflation risks linked to the Middle East conflict.

In economic data, the US consumer price index rose 0.3 per cent in February, matching forecasts and accelerating from January’s 0.2 per cent increase. CPI rose 2.4 per cent in the year to February, also in line with expectations.

Investors are now awaiting the release of January’s delayed Personal Consumption Expenditures index on Friday.

Spot silver fell 0.5 per cent to $85.33 per ounce. Spot platinum lost 0.3 per cent to $2,162.24, while palladium rose 0.3 per cent to $1,642.05.

Crisis, contracts, legal risks: What UAE businesses, residents should know

In times of geopolitical disruption, contracts become part of global infrastructure. They determine responsibility, financial exposure, and legal certainty across borders

Dmitriy Grinik
Dmitriy Grinik

12 March, 2026

Crisis, contracts, legal risks: What UAE businesses, residents should know
Image: Supplied

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Geopolitical tensions increasingly impact global travel, supply chains, and finance. Contracts become crucial for defining responsibilities and managing risk, especially force majeure clauses. Businesses need comprehensive insurance covering conflict-related risks and must comply with sanctions regulations. The UAE's strong legal framework offers stability during these disruptions, providing predictable dispute resolution and supporting global commerce. Understanding these legal dimensions is vital...

For most people, conflict feels distant. It appears in headlines but rarely seems connected to daily life. But nowadays, geopolitical tensions rarely remain confined to the battlefield. Their consequences can quickly affect travel, supply chains, financial transactions, and commercial relationships worldwide.

Beyond the immediate disruptions to travel and shipping, legal implications tend to be forgotten. During stable periods, contracts and legal provisions may appear as routine formalities. But in times of geopolitical disruption, contracts become part of global infrastructure.

They determine responsibility, financial exposure, and legal certainty across borders. Therefore, understanding this legal dimension is increasingly relevant for residents, travellers, and businesses operating in the UAE.

What travellers need to know if airspace closes

When geopolitical tensions escalate, one of the first effects is airspace closures and flight restrictions. Practical questions quickly follow. Who arranges alternative routes? Can airline tickets be refunded? Does travel insurance cover disruptions linked to geopolitical events? What happens if someone cannot return home on schedule?

In most cases, the first point of contact is the airline or travel operator.

Major international carriers typically rebook passengers or offer alternative routes during major disruptions. However, when cancellations result from extraordinary circumstances beyond the airline’s control, such as armed conflict or government restrictions, compensation obligations may be limited.

Embassies and consulates can assist citizens who face travel difficulties abroad. Their role is generally to provide information, documentation, or guidance rather than financial support.

What about insurance?

Many travel insurance policies exclude war, civil unrest, or geopolitical events. Lower-cost policies often provide the least protection during crises. Travellers can reduce risk by reviewing coverage before departure, keeping digital copies of passports and visas.

What businesses must know?

Geopolitical crises can disrupt transport routes, delay logistics, complicate financial transactions, and trigger sanctions or export restrictions with little warning.

When this happens, the legal structure of contracts becomes crucial. Companies operating internationally rely on agreements governing supply chains, financing arrangements, logistics, and partnerships across multiple jurisdictions.

While these contracts function quietly during normal conditions, geopolitical disruptions can quickly challenge the assumptions on which they were built. When disruption occurs, the resilience of these agreements becomes a key factor determining how quickly businesses can adapt.

The application of force majeure in a crisis

During instability, the force majeure clause addresses extraordinary events beyond the control of the parties, such as natural disasters, government actions, or armed conflict. Its effectiveness depends on how the clause is drafted. Some contracts clearly define qualifying events and the consequences if they occur.

Others contain vague language that requires interpretation or negotiation. Well-structured clauses specify which events qualify, how quickly notice must be given, how long obligations may be suspended, and what happens if the contract cannot be fulfilled. Without such clarity, companies may face significant legal uncertainty.

Business insurance

Insurance is another area businesses often overlook. Standard property or cargo policies frequently exclude conflict-related risks unless additional coverage is purchased. Companies involved in international logistics or operating near regions of geopolitical instability should review whether their policies include these protections.

Sanctions and regulatory compliance

Rising geopolitical tensions can also trigger sanctions on specific individuals, companies, or sectors. Businesses may unintentionally become involved in transactions linked to sanctioned entities.

Financial institutions, which must comply with strict international regulations, often increase compliance checks.

Payments may be delayed while banks request additional documentation. Simple compliance measures, such as screening counterparties against publicly available sanctions lists, can significantly reduce these risks.

Legal infrastructure

Over the past decade, the UAE has invested heavily in building a modern legal and regulatory framework. The country has strengthened corporate legislation, developed international arbitration centres, and established transparent systems that support global commerce.

This legal stability becomes particularly valuable during periods of geopolitical tension. Investors and entrepreneurs naturally seek jurisdictions where contracts are respected, dispute resolution mechanisms function efficiently, and legal systems remain predictable even during global disruptions.

The UAE has also demonstrated strong institutional coordination during past crises. During the pandemic and other disruptions to international travel, airlines, hotels, and government authorities worked together to assist stranded travellers. Hotels provided temporary accommodation, while authorities coordinated with diplomatic missions to facilitate safe travel when possible.

While conflicts cannot always be predicted, their legal consequences can often be anticipated. To ensure individuals and businesses alike benefit from the utmost protection in the event of an incident, they must understand that legal documents are tools designed to manage uncertainty. In a world where geopolitical shocks increasingly affect commerce, legal infrastructure becomes as important as financial or technological infrastructure.

Contracts, regulatory systems, and dispute resolution mechanisms are now part of the architecture that allows global trade and investment to function even during periods of instability.

The writer is the founder and CEO of Legaline.

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