logo
Lucid and Saudi Arabia's KAUST announce strategic partnership

Lucid and Saudi Arabia's KAUST announce strategic partnership

Zawya05-05-2025

Partnership leverages growing resources in the Kingdom of Saudi Arabia to advance key areas in Lucid's technology roadmap while progressing the country's vision for sustainable mobility
KING ABDULLAH ECONOMIC CITY, Saudi Arabia /PRNewswire/ -- Lucid Group, Inc. (NASDAQ: LCID), maker of the world's most advanced electric vehicles, and King Abdullah University of Science and Technology (KAUST), a leading academic and research institution focused on science and technology innovation with regional and global impact, today announced a strategic partnership designed to shape the future of EV technology. Leveraging the growing resources in the Kingdom of Saudi Arabia, Lucid aims to further advance the company's technology leadership.
"KAUST's world-class research infrastructure and talent has the potential to further boost our technology leadership in many dimensions incl. our ADAS and AD roadmap—bringing cutting-edge innovation from the lab to the road," said Marc Winterhoff, Interim CEO at Lucid. "This collaboration also strengthens our global R&D footprint bringing additional resources to bear in our efforts to continue as a leader in EV powertrain, battery systems, advanced materials, and software-defined vehicle platforms. As this partnership demonstrates, we continue to strengthen our collaboration with the Kingdom and are fully committed to working together to help achieve their vision to become a global center for mobility innovation."
As part of this cooperation, Lucid will have access to KAUST's supercomputing capabilities.
"KAUST is proud to partner with Lucid to join our research capabilities with their real-world EV expertise while contributing to the Kingdom's strategic goals," said Sir Edward Byrne AC, President of KAUST. "This collaboration underscores our joint commitment to pioneering innovative solutions in electric vehicle technology."
"Access to high-performance computing at this level is truly transformative," said Eric Bach, SVP of Product and Chief Engineer at Lucid. "It dramatically enhances our ability to develop advanced fluids, materials and alloys, simulate real-world physics for crash safety and structural optimization, model fluid dynamics and thermal transfer, analyze electromagnetic flux, and accelerate AI training for digital twin technology, autonomous systems, and large language models. We're deeply grateful for this opportunity and excited about the breakthroughs it will drive across our engineering and AI initiatives."
Joint efforts will also focus on the design and prototyping of next-generation components and systems, integrating disciplines such as mechanical, electrical, thermal, and chemical engineering. Advancements in materials science will play a pivotal role, with research dedicated to high-performance metallic and polymer-based composites, heat-reflective glass coatings, innovative laminates, and alternative non-conventional materials —each aimed at optimizing vehicle efficiency and durability.
The collaborative research and development activities will be hosted at KAUST's advanced laboratories in King Abdullah Economic City.
About Lucid Group
Lucid (NASDAQ: LCID) is a Silicon Valley-based technology company focused on creating the most advanced EVs in the world. The award-winning Lucid Air and new Lucid Gravity deliver best-in-class performance, sophisticated design, expansive interior space and unrivaled energy efficiency. Lucid assembles both vehicles in its state-of-the-art, vertically integrated factory in Arizona. Through its industry-leading technology and innovations, Lucid is advancing the state-of-the-art of EV technology for the benefit of all.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Nordic Crypto Expansion: 21Shares Lists Five New ETPs in Stockholm
Nordic Crypto Expansion: 21Shares Lists Five New ETPs in Stockholm

Arabian Post

time2 days ago

  • Arabian Post

Nordic Crypto Expansion: 21Shares Lists Five New ETPs in Stockholm

Zurich-based 21Shares AG has extended its reach in the Nordic financial market by adding five cryptocurrency exchange-traded products to Nasdaq Stockholm, taking its total offerings on the Swedish exchange to ten. The newly cross-listed products—Uniswap, Avalanche, Bitcoin Gold, Solana Core Staking and Ethereum Core —join the firm's existing Bitcoin, Ethereum, Solana, XRP and Bitcoin Core ETPs. This move reflects mounting interest among both retail and institutional investors in regulated access to a broader range of digital assets via established trading venues. With the latest additions, 21Shares reinforces its position as a leading provider of physically backed, transparent crypto investment products in Europe. Mandy Chiu, Head of Financial Product Development at 21Shares, highlighted that the expansion enables investors to craft more bespoke portfolios. 'By offering a broader selection of single‑asset and thematic crypto ETPs, we're empowering investors to build more customised and resilient portfolios through a familiar exchange environment,' she said. Nasdaq's European ETF & ETP head, Helena Wedin, welcomed the new suite, noting such innovation as shaping the future of capital markets. ADVERTISEMENT The newly listed ETPs offer exposure to distinct niches within the crypto ecosystem. AUNI provides a stake in Uniswap, the leading decentralised exchange. AVAX tracks Avalanche, a platform noted for its scalability. BOLD focuses on Bitcoin Gold—a fork designed to democratise mining. CSOL delivers both Solana price exposure and staking yield, while ETHC covers Ethereum's core asset. These additions allow investors to target specific segments, from DeFi protocols to next‑generation blockchains and staking-enabled assets. All 21Shares ETPs are physically collateralised and traded under regulated frameworks, removing the burden of wallet management and key custody. Fees range from 0.21% to 2.50% annually, offering a competitive alternative to direct crypto exchange transactions. The firm's products are also listed on Euronext Paris, Amsterdam, London and SIX Swiss Exchange, contributing to a diversified pan-European presence. This latest development comes as Europe prepares for implementation of the Markets in Crypto‑Assets Regulation, aimed at standardising crypto oversight. More listings on regulated exchanges help issuers align with the evolving regulatory landscape. 21Shares' strategy compares with best-in-class players in traditional finance pushing crypto integration. From Bitcoin and Ethereum to platforms like Solana and Avalanche, the firm's growing suite meets demand both for mainstream exposure and thematic investment strategies. Despite these advances, some challenges persist. Liquidity conditions for less‑traded tokens such as Bitcoin Gold can be thin, and tracking discrepancies may emerge between product performance and spot prices. Fees, while competitive, can vary significantly: niche products may carry noticeably higher rates, impacting returns. Nevertheless, for investors seeking regulated and familiar vehicles, the benefits are tangible. ETPs provide access through existing brokerages, transparency under established compliance standards and relief from the technical complexity of self-custody. This expansion also underscores Nasdaq Stockholm's evolving role as a hub for crypto‑linked financial instruments. Stockholm's regulatory environment and market infrastructure make it attractive for issuers and investors alike. The increased product diversity enhances its appeal to both domestic and regional markets. Beyond booming local interest, 21Shares continues to push forward globally. In the US, the firm is pursuing approvals for a suite of spot crypto exchange-traded funds—including for Solana, XRP, Dogecoin, Polkadot, and Sui—as it seeks to replicate its European success. Additionally, its ARK 21Shares Bitcoin ETF underwent a 3‑for‑1 stock split on 16 June to enhance accessibility. Since launching the first physically backed crypto ETP in 2018, 21Shares has built a track record of innovation and adaptation. Backed by deep market expertise and proprietary custody systems, the company now manages approximately US $9.15 billion in assets under management. Leadership changes—including new CEO Russell Barlow—reflect an evolving operational structure focused on scalability.

Nutanix Reveals Public Sector Cloud Adoption Trends
Nutanix Reveals Public Sector Cloud Adoption Trends

TECHx

time3 days ago

  • TECHx

Nutanix Reveals Public Sector Cloud Adoption Trends

Home » Emerging technologies » Cloud Computing » Nutanix Reveals Public Sector Cloud Adoption Trends Nutanix (NASDAQ: NTNX), a hybrid multicloud computing company, announced the findings of its seventh annual global Public Sector Enterprise Cloud Index (ECI) survey and research report. The study highlights significant progress and challenges in cloud and GenAI adoption within the public sector. The report revealed that 83% of public sector organizations have a GenAI strategy in place. Among them, 54% are actively implementing the strategy, while 29% are in preparation stages. However, 76% of IT decision-makers reported that their current infrastructure needs moderate to significant improvements to support modern, cloud-native applications at scale. This points to infrastructure modernization as a critical priority for enabling GenAI deployments. The study also found that GenAI adoption is accelerating across the public sector. Leaders are increasingly using GenAI for employee support, chatbots, and content generation. Yet, concerns about security persist. About 92% of public sector leaders stated their organizations need to do more to secure GenAI models and applications. As a result, 96% reported that security and privacy are becoming top priorities. Greg O'Connell, VP, Federal Sales, Public Sector at Nutanix, said, 'Generative AI is no longer a future concept, it's already transforming how we work. 94% of public sector organizations are already putting AI to work and expect returns in as little as one year.' The report further explored trends in Kubernetes, containerization, and future cloud strategies. Key findings include: 92% agree more needs to be done to secure GenAI models and apps. 96% say GenAI is shifting organizational priorities toward privacy and security. 76% believe current infrastructure is not fully ready to support cloud-native applications. Additionally, 96% of respondents said their organizations are already in the process of containerizing applications. The benefits of cloud-native apps and containers are widely recognized, with 91% acknowledging their positive impact. This year's ECI report was conducted by Vanson Bourne in Fall 2024. The study surveyed 1,500 IT and DevOps decision-makers across various sectors and regions, including the Americas, EMEA, and APJ. Nutanix's latest findings reflect growing confidence in GenAI's potential, while highlighting the urgent need for infrastructure, security, and skillset improvements in the public sector.

Women, life and freedom for post Mullah Iran!
Women, life and freedom for post Mullah Iran!

Arabian Post

time3 days ago

  • Arabian Post

Women, life and freedom for post Mullah Iran!

Matein Khalid There is precious little good news to emerge from the Middle East since the IDF launched its spectacular blitzkrieg and leadership decapitation strike against Iran's nuclear asset and military/intelligence elite last Friday. This weekend was grim with Iran's ballistic missile strike on Haifa and Tel Aviv with even a real miss on the IDF command and control complex in Kirya. Netanyahu's boast that he would order IDF warplanes to destroy 100 buildings in Iran for every building destroyed by an Iranian missile in Israel also suggested a protracted, bloody conflict. Yet Brent has plunged to 71.80 as I write with Nasdaq up 300 points on diplomatic signals that Iran wants to join Trump's call for immediate peace deal talk under his aegis. It is also significant that Iran has dare not retaliate against US forces in the Gulf or Iraq. Since the IDF and Mossad destroyed Hezbollah in Lebanon last autumn and a Turkish backed insurgency overthrew its 54-year old Baathist dynastic vassal state in Syria last December, the Ayatollah's 'axis of resistance' in the Levant no longer restrains Israel military strike, as Operation Rising Lion suggests. In fact, the lion and sun were the ancient symbols of Iran's Zoroastrian imperial past and even adorned the flag of the last Pahlavi Shah. I wonder if Bibi wants to anoint Prince Reza Cyrus Pahlavi as the next Shah of Iran. ADVERTISEMENT For Reza's sake, I hope he stays in Washington and does not allow himself to be used by this cynical Israeli megalomaniac. His life is too precious to his wife and daughters as well as his mother Empress Farah, who has faced so much tragedy in her life with the loss of her husband, younger son Ali Reza and daughter Laila. Prince Reza Cyrus should also remember the fate of Bachir Gemayel, whom another nutcase Israeli Prime Minister (Begin) had anointed President of Lebanon in 1982 after the IDF's Operation Peace for Galilee, which ensured no peace for either Israel or Lebanon, midwifed the rise of Hezbollah and claimed 20,000 civilian lives in siege of Beirut. Even though the IDF has scored yet another military and intelligence coup against Iran, I doubt if Netanyahu's call for a popular revolt will happen, let alone succeed. After all, the Ayatollah regime has massacred tens of thousands of young Iranian lives in the periodic revolts against the Islamic Republic that have occurred from the very first months of its existence in 1979. It was surreal to see Bibi speaking the Persian words zan, zindagi, azadi (women, life, freedom). Anybody with a remotely humane moral compass wishes the beautiful Iranian people liberation from this evil and nightmarish mullah regime that has strangled Iran since 1979. Whatever happens, there is no doubt that June 2025 will join February 1979, August 1990, March 2003 and October 2023 as one of the decisive hinge months of Middle East history. That much, at least, is certain! Also published on Medium. Notice an issue? Arabian Post strives to deliver the most accurate and reliable information to its readers. If you believe you have identified an error or inconsistency in this article, please don't hesitate to contact our editorial team at editor[at]thearabianpost[dot]com. We are committed to promptly addressing any concerns and ensuring the highest level of journalistic integrity.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store