DUBAI: Lucid Air, the Saudi-backed luxury electric vehicle maker is hoping an immersive cinema-style sound system will appeal to buyers of the $69,000 vehicle.
Dolby Atmos will be part of Lucid Air’s new 21-speaker surreal sound system, the company said on Thursday.
“As the first car to integrate Dolby Atmos, Lucid Air delivers an elevated, multi-dimensional sound experience on par with the other innovations at Lucid,” said Derek Jenkins, senior vice president of design at Lucid Motors.
The Kingdom’s Public Investment Fund put $1 billion into Lucid in 2018, giving it a majority stake in the California-based company.
The Lucid Air is available for reservation now and can be experienced in-person at one of Lucid Motors’ Studios in Beverly Hills, Los Angeles, San Jose, Newark (California), Miami or West Palm Beach.
Saudi-backed EV Lucid Air reveals 'world first' sound system
https://arab.news/mz3md
Saudi-backed EV Lucid Air reveals 'world first' sound system
- PIF is main investor in California-based EV
- Lucid Air available for registration now
G7 countries to release oil reserves in global push to tackle Iran war energy price surge
- IEA expected to recommend the largest oil reserve release in the agency’s history
RIYADH: Germany, the US, Japan and Austria will release part of their oil reserves after the International Energy Agency recommended the release of 400 million barrels of oil from stockpiles, the largest such move in IEA history.
Germany’s Economy Minister Katherina Reiche confirmed on Wednesday the government plans to limit petrol price increases at filling stations to once a day and to introduce more stringent antitrust regulation of the sector.
She did not give an exact timing for those measures, but added that the US and Japan would be the largest contributors to the release of the oil reserves.
The announcements did not stop oil prices rising, with Brent crude up 3.26 percent to $90.66 a barrel at 4:29 p.m Saudi time, and West Texas Intermediate up 3.12 percent to $86.05. Both were some way below the $119 a barrel seen earlier in the week.
“The situation regarding oil supplies is tense, as the Strait of Hormuz is currently virtually impassable,” Reiche said.
“We will comply with this request and contribute our share, because Germany stands behind the IEA’s most important principle: mutual solidarity,” Reiche said about the IEA’s request.
According to a statement by Reiche’s ministry, Germany will contribute 2.64 million tonnes of oil. This corresponds to 19.51 million barrels.
Reiche stressed there was no supply shortage in the country, which has a legally mandated reserve of oil and oil products intended to cover 90 days’ demand.
The IEA’s move comes as countries are grappling with soaring crude prices amid the US-Israeli war with Iran.
Austrian Economy Minister Wolfgang Hattmannsdorfer said his country was releasing part of the emergency oil reserve and extending the national strategic gas reserve, adding: “One thing is clear: in a crisis, there must be no crisis winners at the expense of commuters and businesses.”
Acting ahead of the IEA move, G7 member Japan announced plans to release 15 days' worth of private-sector oil reserves and one month's worth of state oil reserves.
“Rather than wait for formal IEA approval of a coordinated international reserve release, Japan will act first to ease global energy market supply and demand, releasing reserves as early as the 16th of this month,” Prime Minister Sanae Takaichi said in a broadcast statement.
