Saudi-backed electric car breaks 500-mile barrier

Saudi-backed electric car breaks 500-mile barrier
Customer deliveries of the Lucid Air, which will be produced at Lucid’s new factory in Casa Grande, Arizona, will begin in early 2021. (Supplied)
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Updated 13 August 2020

Saudi-backed electric car breaks 500-mile barrier

Saudi-backed electric car breaks 500-mile barrier
  • Public Investment Fund backing bears fruit as Lucid Air all-electric sedan covers 517 miles on a single charge

LONDON: A Saudi-backed electric vehicle has broken through the 500-mile range barrier from a single charge as global manufacturers race to extend battery life.

Lucid Motors, in which Saudi Arabia’s Public Investment Fund (PIF) is a major investor, on Wednesday announced independent range verification of 517 miles on a single charge for its forthcoming Lucid Air all-electric sedan. 

The car maker claims that the results confirm that the Lucid Air is the longest-range electric vehicle to date.

So-called “range anxiety,” where drivers fear being stranded without power in their cars, is a high priority for electric vehicle manufacturers in convincing people to make the switch from traditional gasoline-fueled vehicles.

“Range and efficiency are widely recognized as the most relevant proof points by which EV technical prowess is measured,” said Lucid Motors CEO Peter Rawlinson.

“A few years ago we revealed our alpha prototypes of the Lucid Air and promised over 400 miles range; a reflection of our technology at that time. In the intervening period we have achieved a series of technological breakthroughs, culminating in an unsurpassed degree of energy efficiency.”

The PIF agreed a $1 billion investment deal with Lucid Motors two years ago to develop the car at a factory in Arizona. The plant initially will have an annual capacity of 34,000 vehicles, building toward 360,000 about seven years later.

The production version of the Lucid Air will debut in an online event on Sept. 9, 2020.

In addition to the vehicle’s final interior and exterior designs, new details about production specifications, available configurations, and pricing information will also be shared. Customer deliveries will begin in early 2021.

Range is one of the biggest factors for consumers mulling the purchase of an electric vehicle, which is why manufacturers such as Elon Musk’s Tesla are investing heavily in battery technology.

China’s CATL which supplies Tesla, said on Wednesday that it was also working on a new technology allowing battery cells to be integrated into a vehicle’s chassis which would allow range to be extended to more than 500 miles.

Sales of electric cars topped 2.1 million globally in 2019, to boost the total stock to 7.2 million electric cars, according to the Paris-based International Energy Agency.

Consultancy Deloitte expects electric vehicle sales to rise from 4 million in 2020 to 21 million in 2030.


Fraudsters up their game, posing as bank officials on the phone in Saudi Arabia

Fraudsters up their game, posing as bank officials on the phone in Saudi Arabia
Vishing that occurs during a telephone call aims to provoke fear in the victim so that customers will be more susceptible to giving out personal, financial, or security details. (shutterstock)
Updated 18 January 2021

Fraudsters up their game, posing as bank officials on the phone in Saudi Arabia

Fraudsters up their game, posing as bank officials on the phone in Saudi Arabia
  • The Saudi Central Bank has warned bank customers, both citizens and expatriates, not to fall victim to financial frauds being perpetrated by scammers

JEDDAH: Fraudsters have developed a new scam, contacting residents in Saudi Arabia and pretending to be bank staffers requesting customer details.
A number of Arab News staff have received such calls in recent weeks. One caller spoke Urdu while two other callers posing as senior officials from the headquarters of the bank spoke in English and Arabic with a local accent.
They used phone numbers that appeared to be local numbers but upon calling back, the lines failed to connect.
The racketeers collect phone numbers of customers and ring them up, saying that their bank account or ATM card requires immediate updating. The scammers use the information provided to gain access to their bank accounts.
Speaking to Arab News, Talat Zaki Hafiz, secretary-general of the Media and Banking Awareness Committee of Saudi banks, said: “Saudi banks represented by the Media and Banking Awareness Committee have repeatedly warned bank customers not to react to stray phone calls of any kind coming from unknown sources that ask to update their banking record or personal information.” He further confirmed that banks do not request such information through phone calls or SMS messages.
Mohammed Khurram Khan, a professor of cybersecurity at the King Saud University in Riyadh, told Arab News: “Phishing, an online scam which targets users through emails where individuals are encouraged to click on a link that takes them to fraudulent sites, was troubling people. Now it’s a different kind of scam known as ‘vishing,’ over-the-phone phishing, where scammers persuade users to share their banking information by impersonating a bank official.”

HIGHLIGHT

The racketeers collect phone numbers of customers and ring them up, saying that their bank account or ATM card requires immediate updating. The scammers use the information provided to gain access to their bank accounts.

Vishing that occurs during a telephone call aims to provoke fear in the victim so that customers will be more susceptible to giving out personal, financial, or security details.
Sharing his experience Zafar Hasan, an e-learning consultant in Riyadh, said: “I received a call from someone on an unknown mobile number who introduced himself as a bank employee and told me that my ATM card was going to be blocked. It required an immediate update so I should give my Iqama number (residence permit number) and sixteen-digit ATM card number. I felt something was fishy, so I told him that I would go personally to the bank to update the card.”
The Saudi Central Bank (SAMA) has warned bank customers, both citizens and expatriates, not to fall victim to financial frauds being perpetrated by scammers.
SAMA called on bank customers to take information only from the official channels of the bodies regulating the Kingdom’s financial and investment sectors and inform the competent security authorities about such fraudulent attempts.