SYDNEY: An epic 3,000-kilometer solar car race across the desert heart of Australia designed to showcase new technology that could one day help develop commercial vehicles got underway Sunday.
The World Solar Challenge, first run in 1987 and last held in 2015, began in a high-tech, futuristic flurry from Darwin's State Square.
Dutch team Nuon is aiming to defend its title but Belgium's Punch Powertrain led the 41 cars — powered by the sun and mostly developed by universities or corporations — off on the punishing journey south to Adelaide after a surprise win in Saturday's time trial.
“We knew our car was good but we never expected pole because there are a lot of competitors over here, a lot of very fast looking cars,” team manager Joachin Verheyen told reporters.
The event has become one of the world's foremost innovation challenges with teams looking to demonstrate designs that could one day lead to commercially available solar-powered vehicles for passengers.
Google co-founder Larry Page and Tesla co-founder J B Straubel are past competitors who credit the event in influencing their careers.
The main action will be the streamlined Challenger class — slick, single seat aerodynamic vehicles built for sustained endurance and total energy efficiency.
Dutch team Nuon crossed the finish line first two years ago, taking 33.03 hours to make the punishing trip ahead of Japan's Tokai University, the 2011 winner, in a nail-biting climax.
Both teams are again in the hunt this year, with cars from the US, Australia, Malaysia, India and South Africa among competitors up against them.
There is also a Cruiser class which aims to showcase solar technology for mainstream vehicles that are more practical for day-to-day use.
Entrants come from Hong Kong, Singapore and even Iran.
“Of course, the point of this challenge is not just to go fast, or to develop technology that will never reach the mainstream,” said event director Chris Selwood.
“Our founder, Hans Tholstrup, and competitors past and present, are all determined to make sustainable, energy positive, solar electric cars and renewable technology a reality.”
Teams are allowed to store a small amount of energy but the majority of their power has to come from the sun and their vehicle's kinetic forces.
Crews are allowed to drive between 8 a.m. and 5 p.m. each day and simply set up camp wherever their car pulls off the road at the end of the day. The first car to cross the line in Adelaide is the winner.
There are seven checkpoints along the route where drivers can get updates on their standings, the weather, and do basic maintenance — clearing any debris from the car and adjusting tyre pressure.
— AFP
World solar car race begins in Australia
World solar car race begins in Australia
Closing Bell: Saudi benchmark index closes lower at 10,540
RIYADH: Saudi equities ended Wednesday’s session lower, with the Tadawul All Share Index falling 55.13 points, or 0.52 percent, to close at 10,540.72.
The sell-off was mirrored across other indices, with the MSCI Tadawul 30 Index retreating 5.79 points, or 0.41 percent, to close at 1,393.32, while the parallel market Nomu slipped 74.56 points, or 0.32 percent, to 23,193.21.
Market breadth remained firmly negative, as decliners outpaced advancers, with 207 stocks ending the session lower against just 51 gainers on the main market.
Trading activity moderated compared to recent sessions, with volumes reaching 123.5 million shares, while total traded value stood at SR2.72 billion ($725.2 million).
On the sectoral and stock level, Al Moammar Information Systems Co. led the gainers after surging 9.96 percent to close at SR172.30, extending its rally following a series of contract announcements tied to data center and IT infrastructure projects.
Al Masar Al Shamil Education Co. climbed 4.89 percent to SR27.48, while Naqi Water Co. advanced 3.36 percent to SR58.50. Al Yamamah Steel Industries Co. and Al-Jouf Agricultural Development Co. also posted solid gains, rising 3 percent and 2.86 percent, respectively.
Losses, however, were concentrated in industrial names. Saudi Kayan Petrochemical Co. fell 3.67 percent to SR4.73, while Makkah Construction and Development Co. slid 3.44 percent to SR80.
Saudi Tadawul Group Holding Co. retreated 3.28 percent to SR147.50, weighed down by broader market weakness, and Saudi Cable Co. declined 3.18 percent to SR143.
Alkhaleej Training and Education Co. rounded out the top losers, shedding just over 3 percent.
On the announcement front, BinDawood Holding announced the signing of a share purchase agreement to acquire 51 percent of Wonder Bakery LLC in the UAE for 96.9 million dirhams, marking a strategic expansion of its food manufacturing footprint beyond Saudi Arabia.
The acquisition, which remains subject to regulatory approvals, is expected to support the group’s regional growth ambitions and strengthen supply chain integration.
BinDawood shares closed at SR4.68, up 0.43 percent, reflecting a positive market reaction to the overseas expansion move.
Meanwhile, Al Moammar Information Systems disclosed the contract sign-off for the renewal of IT systems support licenses with the Saudi Central Bank, valued at SR114.4 million, inclusive of VAT.
The 36-month contract is expected to have a positive financial impact starting from fourth quarter of 2025, reinforcing MIS’s position as a key technology partner for critical government institutions. The stock surged to the session’s limit making it the top gainer.
In a separate disclosure, Maharah Human Resources confirmed the completion of the sale of its entire stake in Care Shield Holding Co. through its subsidiary, Growth Avenue Investments, for a total consideration of SR434.3 million.
The transaction involved the transfer of 41.36 percent of Care Shield’s share capital to Dallah Healthcare, with Maharah receiving the full cash proceeds.
Despite the strategic divestment, Maharah shares closed lower, ending the session at SR6.12, down 1.29 percent.
