Lucid said it expected the offering to raise $1.67bn, but on Monday, the company said the offering had raised nearly $1.75bn
CYVN Holdings will support NIO with strategic investments for the expansion, which will start with UAE
The electric carmaker awarded the contract for a production facility spanning more than one million square meters
The electric carmaker will offer the G6 and G9 SUV models in UAE from Q3 2024
The group plans to boost its annual output of electric cars in Korea to 1.51 million units by end of this decade
Nissan’s divisional vice president for Africa, Middle East, India and the Oceania region, says the automotive sector’s second major revolution has been driven by three factors: customers, manufacturers and markets
The newly-established Volkswagen Group Middle-East Group will lead and support the company’s activities in all markets in the region
The first Polestar Destination in the UAE is scheduled to open in Dubai later this year
Electric cars will represent 95 per cent of total EV shipments in 2022 and the remainder will be split between buses, vans and heavy trucks
The kingdom aims to ensure at least 30 per cent of the cars in its capital are electric by 2030
The luxury carmaker’s EQ fleet will offer electric and hybrid alternatives in each of its model segments – from compact cars to large family SUVs
One of the biggest revelations for the luxury auto industry this year is that going electric is no longer an option – and it must be done now
Every model line will offer a hybrid version by 2023, with the company’s first fully-electric model slated to be introduced in 2025
It will use F1 technology to drive its goal of electrifying two-thirds of its fleet by 2030
There are around 1,803 electric cars registered in the emirate
Renault shares have fallen 47 per cent this year
The Saudi PIF-backed company is expected to begin deliveries of its Lucid Air model next year to customers in the Middle East