Lucid Motors (LCID) announces limited $7,500 credit for Air EV purchases
Lucid Motors isn’t about to let potential customers of the other American EV automakers have all the fun. Just because its EVs don’t qualify for federal tax credits under new terms in the Inflation Reduction Act does not mean customers looking to buy a new Lucid Air can’t get $7,500 off. That’s right – for a limited time, Lucid Motors is offering its own $7,500 credit for purchases of select models of the Air sedan.
It’s been well over a year since Lucid Motors began production of its Air sedan, and although the American Automaker warned the public it would be slashing its production targets for 2022 due to supply chain constraints, it did hit its (twice) revised production target for last year after a strong showing in Q4.
We got a chance to take the Air Grand Touring – Lucid’s second version of the sedan to reach customers – out for a long spin up the coast last year and were quite impressed. It was followed by the Touring version which began deliveries this past November and the Air Pure – Lucid’s most affordable version of the sedan.
Even at its most bare bones configuration, the Lucid Air Pure does not qualify for federal EV tax credits even though it is built in North America. It’s $87,400 price tag is well above the $55,000 limit for electric sedans laid out in the Inflation Reduction Act signed by President Biden last summer.
Competitors like Tesla on the other hand, have significantly dropped the prices of its EVs to qualify for tax credits… at least until the US Department of Treasury shares its battery guidance expected sometime in March. Furthermore, Tesla’s Model Y has been classified by the IRS as an SUV, bumping its MSRP threshold up to $80k and expanding its qualifications for tax credits. No such luck for the Lucid Air sedan.
Fellow automaker Ford has noted Tesla’s massive price cuts and responded by bolstering production of the Mustang Mach-E this year while also lowering its MSRP across all trims. Today, we’ve learned that Lucid has also taken note of these discounts to potential EV consumers and has essentially said, “Hey, our EVs don’t qualify for federal tax credits, but we’re gonna give you $7,500 off anyway.”
Well, at least through March.
Lucid announces its own $7,500 credit for EV purchases
According to news from Lucid Motors early this morning, it will offer its own $7,500 credit to buyers of select versions of the Air Grand Touring and Touring through March 31, 2023.
While the Lucid Air Touring and Grand Touring start at MSRPs of $107,400 and $138,000 respectively, an extra $7,500 should be welcomed by potential customers, especially since that’s up to $7,500 those customers do not qualify for from Uncle Sam due to the luxury sedan’s higher cost.
In a way, Lucid Motors is both joining the early stages of a potential EV price war, while also giving customers that were hoping for a federal EV tax credit what they would get if they were to purchase a qualifying model from a competitor. Lucid’s vice president of sales and service Zak Edson spoke:
We think our customers still deserve a $7,500 credit for choosing an EV. Lucid Air owners have told us how much they love this car, from the world-class driving experience to the elegant design and spacious interior. With this limited time offer, we hope to get Lucid Air into the hands of even more customers so they can experience the best for themselves.
In order to qualify for Lucid’s temporary EV credit, you must purchase an Air Grand Touring or Touring sedan no later than March, 31 and take delivery by April 30, 2023. The offer is not applicable to EVs with the Stealth look, PurLuxe interior, or a metal roof.
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President Donald Trump’s Truth Social platform moved a step closer to having a bitcoin exchange-traded fund available to everyday investors.
NYSE Arca, the all-electronic arm of the New York Stock Exchange that handles most ETF trading, filed on Tuesday to list a bitcoin fund linked to the president’s media company, the latest sign of Trump’s expanding push into the crypto world. Known as a 19b-4 form, the filing is required before regulators can decide whether to allow the fund to launch and trade on a U.S. exchange.
Called the Truth Social Bitcoin ETF, the fund is designed to track the price of bitcoin and offer a simpler way for investors to gain exposure without holding the asset directly. The filing follows an announced partnership between Trump Media and Crypto.com in March to bring a suite of digital asset products to market later this year, pending regulatory approval.
Those planned offerings include baskets of cryptocurrencies, such as bitcoin and Crypto.com’s native Cronos token, combined with traditional securities. The products will be branded under Trump Media and made available to global investors through major brokerage platforms and the Crypto.com app, which serves more than 140 million users worldwide.
Since the January 2024 launch of spot bitcoin ETFs, the market has swelled to more than $130 billion in total assets. BlackRock‘s iShares Bitcoin Trust (IBIT) accounts for the lion’s share, with nearly $69 billion in assets, making it the largest digital asset manager in the world.
Trump is the majority owner of Truth Social’s parent company, Trump Media & Technology Group, which has made a series of crypto-aligned moves in recent months — from trademarking digital asset products to unveiling a $2.5 billion bitcoin treasury plan last week in Las Vegas. If approved, the ETF would represent one of the most politically connected entries into the booming market for bitcoin funds.
WATCH: SEC Commissioner Peirce on dropping Binance case: We’re writing the rules first, then enforcing
The third of a quintet of West Virginia solar farms just came online, and while that’s a renewable milestone, there’s a disappointing hitch.
3 out of 5 West Virginia solar farms are online
FirstEnergy subsidiaries Mon Power and Potomac Edison have launched a 5.75 megawatt (MW), 17,000-panel solar farm at Marlowe in Berkeley County. The new solar farm sits on about 36 acres of land along I-81 and the Potomac River – land that used to store ash from the retired R. Paul Smith Power Station.
In 2022, FirstEnergy wrapped up a major cleanup effort, pulling more than 3 million tons of ash from the site to be reused in cement manufacturing. With the landfill officially closed, the company cleared the way to turn the former waste site into a clean energy generator as part of its solar program. Fifty-four local union workers constructed the solar farm, which features US-made solar panels, a racking system, and electrical equipment.
It’s the third of Mon Power and Potomac Edison’s five solar farms that will generate up to 50 MW of clean energy combined. The companies completed their first solar farm at Fort Martin Power Station (18.9 MW) in early 2024, and their Rivesville solar site (5.5 MW) came online last fall. In total, the companies now have 30 MW of solar capacity.
Electrek’s Take
Combined, the five projects will create more than 87,000 Solar Renewable Energy Credits (SRECs) available for purchase by customers for 4 cents per kilowatt hour in addition to normal rates. Aside from the essential benefit of cutting carbon emissions, there isn’t anything else in it for customers, apart from spending, on average, an extra $40 or so a month out of the goodness of your heart to go solar. Heck, you don’t even get a T-shirt.
Mon Power and Potomac Edison – why are customers being charged MORE to buy into solar in West Virginia? That’s a stick, not a carrot. (And WV? Coal’s not coming back. It doesn’t matter what Trump says.)
But solar growth anywhere is something to be cheerful about, and solar energy in coal-state West Virginia is progressing. According to the Solar Energy Industries Association, as of Q4 2024, 205 MW of solar is installed in West Virginia. So, it’s no surprise that it’s at the bottom – it’s ranked 49th in the US for the amount of solar installed. However, it’s projected to reach 40th place over the next five years with 1,064 MW, so at least it’s expected to improve.
To limit power outages and make your home more resilient, consider going solar with a battery storage system. In order to find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and you share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get started here. –trusted affiliate link*
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Is the Kia EV4 GT the affordable electric sports car we’ve been waiting for? Kia’s first global electric sedan is about to get a sporty upgrade. After the EV4 GT was spotted in public, we’re finally getting a glimpse of the interior.
Kia EV4 GT spotted, revealing first look at the interior
The EV4 arrives as one of the most highly anticipated electric cars of 2025. After opening orders in Korea earlier this year, Kia will launch it in Europe later this year and the US in 2026.
Kia’s electric sedan starts at just 41.92 million won, or around $30,000 in Korea. Although prices for Europe and North America have yet to be revealed, the entry-level EV is expected to start at around $35,000 to $40,000.
Despite its typical four-door design, Kia labels it as an “entirely new type of EV sedan” with a wide stance and fastback silhouette.
Although the EV4 already has that sports car look, Kia is about to introduce an upgraded GT variant that could be a true Tesla Model 3 Performance challenger.
Who could forget the EV6 GT? It hit the market in 2022 as “the most powerful Kia production vehicle ever.” With 576 hp, the high-performance EV could hit 0 to 60 mph in just 3.4 secs, faster than the average Ferrari or Lamborghini.
With significant advancements in battery technology, powertrain, and other areas over the past few years, the EV4 GT will likely offer even more.
The EV4 GT was spotted outside Kia and Hyundai’s facility in Korea, and a few spy photos give us a glimpse of the interior for the first time.
The new video from HealerTV reveals a few interior upgrades the GT model will get over the standard EV4. As you can see, it resembles the EV9 GT interior almost identically. The only slight difference that we can see is the different material on the upper part of the seating.
Like the EV6 GT and EV9 GT, the EV4 GT will also include an adjustable ambient lighting feature, allowing you to customize the interior color and brightness.
Although it’s covered, the EV4 GT is expected to feature Kia’s new ccNC infotainment system. The panoramic curved display includes dual 12.3″ driver and navigation screens.
The exterior is likely to receive a more aggressive front-end design and larger wheels, similar to those of other Kia GT vehicles. Although the final specifications have yet to be revealed, the EV4 GT is expected to feature an all-wheel-drive (AWD) dual-motor powertrain.
In Korea, the EV4 is available in two battery options: 58.2 kWh and 81.4 kWh, offering a driving range of 237 miles or 331 miles (533 km). The GT variant is likely to use the larger 81.4 kWh battery pack, similar to other GT models.
Kia will launch the EV4 in the US next year, featuring a built-in NACS port to access Tesla Superchargers and an EPA-estimated driving range of up to 330 miles. Prices will be revealed closer to launch, but the EV4 is expected to start at around $35,000 to $40,000. The GT variant could cost upwards of $50,000 to $55,000, with the 2025 Kia EV6 GT starting at $63,800.
The Tesla Model 3 Performance starts at $54,990 in the US with 298 miles range and a 0 to 60 mph time in 2.9 seconds.
Will the Kia EV4 GT match it? Let us know your thoughts in the comments.
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