Move over, Elon Musk: Kalashnikov unveils ‘electric supercar’ to rival Tesla

A handout picture taken on August 22, 2018 and released by Kalashnikov media press office, shows a retro-looking pale blue prototype electric car, the CV-1, produced by Russian arms maker Kalashnikov, in Moscow. (AFP/ KALASHNIKOV MEDIA)
Updated 23 August 2018
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Move over, Elon Musk: Kalashnikov unveils ‘electric supercar’ to rival Tesla

MOSCOW: Russian arms maker Kalashnikov on Thursday presented its new electric car inspired by a rare 1970s model, saying the new technology will rival Elon Musk’s Tesla.
The brand, best known for the AK-47 machine gun, presented the decidedly retro-looking pale blue prototype, the CV-1, at a defense expo outside Moscow.
The look was inspired by a Soviet hatchback model developed in the 1970s called “Izh-Kombi,” a statement on the Kalashnikov website said.
Holding company Kalashnikov Concern said it has developed some cutting-edge elements for the “electric supercar,” including a “revolutionary” inverter. The vehicle can travel 350 kilometers on one charge.
“We are developing our own concept of an electric supercar, which is based on several original systems developed by the concern,” the firm said.
“This technology will let us stand in the ranks of global electric car producers such as Tesla and be their competitor,” RIA-Novosti further quoted the Kalashnikov press-service as saying.
“We were inspired by the experience of global market leaders in developing our concept.”
Kalashnikov Concern has long been trying to expand its brand, recently launching lines of clothing and other civilian merchandise ranging from umbrellas to mobile phone covers.
Its foray into electric vehicles however was met with mixed reactions from Russians. Comments to the news on the company’s official Facebook page ranged from “cyberpunk” to “Izh-Zombie.”
“Your tanks are great, but it would be better if you stayed away from cars,” one user wrote.
Earlier this week, online users ridiculed Kalashnikov’s new bipedal combat robot. The golden-color machine, reportedly named “Igorek” in production stages, immediately became a subject of social media memes.
“Somebody had watched too much ‘Robocop’,” tweeted user happy__keanu, referring to the 1987 action film about a cyborg law enforcer.


Price cuts drive sales of Saudi-owned electric car

Updated 09 July 2024
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Price cuts drive sales of Saudi-owned electric car

  • Lucid delivers more vehicles than expected as it prepares to launch luxury new Gravity SUV

RIYADH: The majority Saudi-owned electric car maker Lucid delivered more vehicles than expected in the past three months as price cuts helped boost demand.
The company delivered 2,394 cars from April to June 30, above analysts’ predictions of 1,940.

Lucid produced 3,838 vehicles in the first six months of 2024 and needs to make more than 5,162 cars by end of the year to meet its annual output forecast of 9,000. It made 8,428 cars in 2023.
“I think at this point everything is shaping for them to achieve that,” said Andres Sheppard, senior equity analyst at Cantor Fitzgerald. Lucid will produce and deliver more cars in the second half of the year because of the usual seasonal effects on the industry, he said.

Demand for electric vehicles has grown more slowly than expected pace in the past year, under pressure from high borrowing costs, economic uncertainties and consumer preference for hybrid alternatives.
Lucid and the market leader Tesla have responded by slashing prices and offering incentives such as cheaper financing options. Lucid, which is 60-per-cent owned by the Public Investment Fund, the Kingdom’s sovereign wealth fund, cut the price of its flagship Air model by 10 percent in February.
Its new Gravity SUV model, a rival for Tesla's Model X, goes into production this year and will cost about $80,000.