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Lucid Motors ($LCID) has posted its financial results for Q3 of 2022 ahead of its earnings call with investors later this afternoon. EV production and Air deliveries continue to grow while cash on hand continues to shrink. Still, Lucid Motors appears to be in good shape headed into 2023 as it looks to soon launch its second model, Project Gravity.

The numbers posted today are encouraging from a production standpoint, as Lucid Motors again reiterated that it tripled the number of Air EVs produced in Q3 compared to a quarter ago. These numbers echo a report from the American automaker back in mid-October that detailed 1,398 deliveries of the 2,282 produced.

Thanks to significantly bolstered production numbers in Q3, Lucid also relayed that it remains on track to meet its previously revised output goal of 6,000 to 7,000 for the year. As the automaker gets set to officially launch its final two versions of its flagship sedan next week – the Air Touring and Air Pure, Lucid Motors hopes to bring more momentum into 2023.

A second EV model could help further boost reservations and subsequent sales as well, as the company continues to tease its Project Gravity all-electric SUV. Lucid has promised a progress update alongside the complete Air launch next week, but before then, the company shared that it will soon begin reservations. Let’s dig into Lucid’s Q3 financials.

Lucid Q3
Source: Lucid Group

Lucid Motors’ Q3 numbers and a start to Gravity reservations

You can check out Lucid Motors’ full Q3 2022 financial report here and follow along if you’d like, but we’re going to point some of the more notable aspects of the American automaker’s current business.

First things first, revenue was $195.5 million in Q3 alone and accounts for half the company’s year-to-date total, which is encouraging. Cash and cash equivalents saw a pretty large decrease, but Lucid’s long-term debt didn’t shift much, so no cause for worry just yet. It still has $3.85 billion to play with – enough to get into Q4 of 2023, according to Lucid.

Losses from operations have seen significant growth in the past year, but that is to be expected as the automaker still works to hit its production stride at its AMP-1 Arizona facilities.

Even with its growing number of deliveries, customer demand for the Air sedan far exceeds current production output. Following Q3, Lucid Motors says it still has 34,000 Air reservations that would equate to $3.2 billion in sales if each and every one of them came to fruition.

Those sales numbers grow significantly when you consider the (up to) 100,000 additional Air EVs the Saudi Arabian government agreed upon back in April. All of that said, those vehicles are expected to be delivered over the course of the next decade.

While Lucid still works to deliver Air EVs to its 30k+ reservation holders, it shared it will begin taking reservations for its electric SUV (Project Gravity) in early 2023. Given that news, we’d expect to learn a lot more about Lucid’s second EV model in the next month or two, beginning with its livestream event on November 15.

That’s all for now. You can check out the webcast of Lucid Motors’ Q3 earnings call here.

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New DOE report finds 90% of wind turbine materials are recyclable

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New DOE report finds 90% of wind turbine materials are recyclable

The US Department of Energy (DOE) has released an encouraging new report revealing that 90% of wind turbine materials are already recyclable using existing infrastructure, but tackling the remaining 10% needs innovation.

That’s why the Biden administration’s Bipartisan Infrastructure Law has allocated over $20 million to develop technologies that address these challenges.

Why this matters

The wind energy industry is growing rapidly, but questions about what happens to turbines at the end of their life are critical. Recyclable wind turbines means not only less waste but also a more affordable and sustainable energy future.

According to Jeff Marootian, principal deputy assistant secretary for the Office of Energy Efficiency and Renewable Energy, “The US already has the ability to recycle most wind turbine materials, so achieving a fully sustainable domestic wind energy industry is well within reach.”

The report, titled, “Recycling Wind Energy Systems in the United States Part 1: Providing a Baseline for America’s Wind Energy Recycling Infrastructure for Wind Turbines and Systems,” identifies short-, medium-, and long-term research, development, and demonstration priorities along the life cycle of wind turbines. Developed by researchers at the National Renewable Energy Laboratory, with help from Oak Ridge and Sandia National Laboratories, the findings aim to guide future investments and technological innovations.

What’s easily recyclable and what’s not

The bulk of a wind turbine – towers, foundations, and steel-based drivetrain components – is relatively easy to recycle. However, components like blades, generators, and nacelle covers are tougher to process.

Blades, for instance, are often made from hard-to-recycle materials like thermoset resins, but switching to recyclable thermoplastics could be a game changer. Innovations like chemical dissolution and pyrolysis could make blade recycling more viable in the near future.

Critical materials like nickel, cobalt, and zinc used in generators and power electronics are particularly important to recover.

Key strategies for a circular economy

To make the wind energy sector fully sustainable, the DOE report emphasizes the adoption of measures such as:

  • Better decommissioning practices – Improving how turbine materials are collected and sorted at the end of their life cycle.
  • Strategic recycling sites – Locating recycling facilities closer to where turbines are decommissioned to reduce costs and emissions.
  • Advanced material substitution – Using recyclable and affordable materials in manufacturing.
  • Optimized material recovery Developing methods to make recovered materials usable in second-life applications.

Looking ahead

The DOE’s research also underscores the importance of regional factors, such as the availability of skilled workers and transportation logistics, in building a cost-effective recycling infrastructure. As the US continues to expand its wind energy capacity, these findings provide a roadmap for minimizing waste and maximizing sustainability.

More information about the $20 million in funding available through the Wind Turbine Technology Recycling Funding Opportunity can be found here. Submission deadline is February 11.

Read more: The California grid ran on 100% renewables with no blackouts or cost rises for a record 98 days


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Mazda finally reveals plans to build its first dedicated EV: Here’s what we know so far

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Mazda finally reveals plans to build its first dedicated EV: Here's what we know so far

Mazda is finally stepping up with plans to build its first dedicated EV. The upcoming Mazda EV will be made in Japan and based on a new in-house platform. Here’s what we know about it so far.

The first dedicated Mazda EV is coming soon

Although Mazda isn’t the first brand that comes to mind when you think of electric vehicles, the Japanese automaker is finally taking a step in the right direction.

Mazda revealed on Monday that it plans to build a new module pack plant in Japan for cylindrical lithium-ion battery cells.

The new plant will use Panasonic Energy’s battery cells to produce modules and EV battery packs. Mazda plans to have up to 10 GWh of annual capacity at the facility. The battery packs will power Mazda’s first dedicated EV, which will also be built in Japan using a new electric vehicle platform.

Mazda said it’s “steadily preparing for electrification technologies” under its 2030 Management Plan. The strategy calls for a three-phase approach through 2030.

The first phase calls for using its existing technology. In the second stage, Mazda will introduce a new hybrid system and EV-dedicated vehicles in China.

Mazda-first-dedicted-EV
Mazda EZ-6 electric sedan (Source: Changan Mazda)

The third and final phase calls for “the full-fledged launch” of EVs and battery production. By 2030, Mazda expects EVs to account for 25% to 40% of global sales.

Mazda launched the EZ-6, an electric sedan, in China last October. It starts at 139,800 yuan, or around $19,200, and is made by its Chinese joint venture, Changan Mazda.

Mazda-first-dedicted-EV
Mazda EZ-6 electric sedan (Source: Changan Mazda)

Based on Changan’s hybrid platform, the electric sedan is offered in EV and extended-range (EREV) options. The all-electric model gets up to 600 km (372 miles) CLTC range with fast charging (30% to 80%) in 15 minutes.

At 4,921 mm long, 1,890 mm wide, and 1,485 mm tall with a wheelbase of 2,895 mm, Mazda’s EZ-6 is about the size of a Tesla Model 3 (4,720 mm long, 1,922 mm wide, and 1,441 mm tall with a 2,875 mm wheelbase).

Mazda-first-dedicted-EV-interior
Mazda EZ-6 interior (Source: Changan Mazda)

Inside, the electric sedan features a modern setup with a 14.6″ infotainment, a 10.1″ driver display screen, and a 50″ AR head-up display. It also includes zero-gravity reclining seats and smart features like voice control.

The EZ-6 is already off to a hot sales start, with 2,445 models sold in November. According to Changan Mazda, the new EV was one of the top three mid-size new energy vehicle (NEV) sedans of joint ventures sold in China in its first month listed.

Will Mazda’s first dedicated EV look like the EZ-6? We will find out with Mazda aiming to launch the first EV models on its new in-house platform in 2027. Stay tuned for more.

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Trump says he will revoke Biden offshore drilling ban on first day in office

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Trump says he will revoke Biden offshore drilling ban on first day in office

A view of offshore oil and gas platform Esther in the Pacific Ocean on January 5, 2025 in Seal Beach, California. 

Mario Tama | Getty Images

President-Elect Donald Trump said Tuesday that he will reverse President Joe Biden‘s ban on offshore drilling along most of the U.S. coastline as soon as he takes office.

“I’m going to have it revoked on day one,” Trump said at a news conference, though he indicated that reversing the ban might require litigation in court.

Biden announced Monday that he would protect 625 million acres of ocean from offshore oil and gas drilling along the East and West coasts, the eastern Gulf of Mexico, and Alaska’s Northern Bering Sea. The president issued the ban through a provision of the 1953 Outer Continental Shelf Lands Act.

An order by Trump attempting to reverse the ban will likely end up in court and could ultimately be struck down.

During his first term, Trump tried to issue an executive order to reverse President Barack Obama’s use of the law to protect waters in the Arctic and Atlantic from offshore drilling. A federal court ultimately ruled that Trump’s order was not lawful and reversing the ban would require an act of Congress.

The Republican Party has a majority in both chambers of the new Congress.

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