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Shares of American EV maker Lucid Motors (LCID) are falling Wednesday after reporting a drop in Q2 production. The decline is unexpected, especially considering many EV makers seeing growth in the second quarter.

Lucid shares are down after Q2 production decline

Despite several EV makers reporting record numbers in the second quarter, Lucid’s numbers continue to fall.

Lucid produced 2,173 electric vehicles at its manufacturing facility in Arizona in Q2, delivering 1,404 between April 1 and June 30, 2023.

Coming off its strongest production quarter in Q4 2022, the EV maker’s production numbers have now declined for the past two quarters.

After building 3,493 Lucid Air models in the fourth quarter, Lucid’s production slipped 33% to 2,314 units in Q1 2023 and now another 6% in Q2 to 2,173.

Lucid said after its Q4 earnings it was aiming to build between 10K and 14K models this year, falling significantly short of Wall St expectations upwards of 20K. With 4,487 EVs produced so far this year, Lucid will need to pick up the pace to hit its goals.

Lucid-shares-Q2-production
(Source: Lucid)

Deliveries have not held up much better. Lucid delivered 1,932 EVs in the fourth quarter, 1,406 in the first quarter of 2023, and 1,404 in Q2.

The company announced it has begun “material shipments to the Kingdom of Saudi Arabia.” Last month, the EV maker revealed it was raising around $3 billion through a public stock sale and a new investment from its majority shareholder, Saudi Arabia’s Public Investment Fund (PIF).

Lucid announced a long-term plan last February to bring EV manufacturing to the region with a new international facility aiming for 150,000 vehicle production annually.

More recently, Lucid may have found a new source of revenue to drive profits. The EV maker entered into a strategic tech partnership last month with Aston Martin to supply its proprietary EV tech.

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Lucid Air electric sedan (Source: Lucid Motors)

The British sports car maker plans to use Lucid’s advanced tech to build a new EV platform to power “the world’s most thrilling and highly desirable electric performance cars.”

Lucid says the deal will help expand the reach of its products while “paving the way for more mainstream applications” in the future. Lucid’s CEO, Peter Rawlinson, even hinted at licensing its tech to a company to build an affordable (roughly $25K) EV.

Shares of Lucid are down over 10% following the Q2 production drop. EV stocks have been trending upwards the past few weeks, with EV makers like Tesla and Rivian crushing estimates and driving the sector higher. Even Mercedes-Benz’s electric vehicle deliveries surged over 600% in the US, driven mainly by its higher-end models.

Electrek’s Take

Does Lucid have a demand problem? The EV maker has been struggling to ramp production and deliveries all year with ongoing supply chain issues.

With competition from Tesla, Mercedes-Benz, and more, Lucid is struggling to find its place in the US market. Meanwhile, other EV makers, like Rivian, are turning the corner with a “healthy” supply chain and “robust backlog of preorders.”

We’ll learn more about the situation when Lucid drops its Q2 financial results on Monday, August 7, 2023.

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JackRabbit MG Doble review: The 2-person ‘e-bike’ that’s way too fun

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JackRabbit MG Doble review: The 2-person 'e-bike' that’s way too fun

When I first saw the JackRabbit MG Doble upon its unveiling earlier this year, I wasn’t totally sure what to expect. It’s not quite a full-size electric bike, but definitely not a mini-bike either. It has no pedals, yet it feels like a legit vehicle, not a toy. And while its higher price tag isn’t exactly budget-friendly, the Doble offers something that’s surprisingly rare in the e-bike world: a two-person ride that’s actually fun, compact, and borderline addictive.

To see what I mean about how fun this bike is to ride, check out my video review below. Or just keep reading to get the full picture!

JackRabbit has already made a name for itself with quirky, ultra-lightweight microbikes like the JackRabbit OG and XG series. Dubbed “micro e-bikes”, despite their lack of bicycle pedals, they tend to feel like small electric bicycles while maintaining the portability and lightweight convenience of an electric scooter.

But the MG Doble is a big step up – in power, size, and versatility. At first glance, it looks like someone stretched a JackRabbit XG and beefed up the frame. But once you hop on, it becomes clear: this thing feels more like a stripped-down motorcycle than a blown-up microbike.

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It’s technically still smaller than a full-size e-bike (sporting a front 24×3″ tire mismatched with a rear 20×3″ in true mullet fashion), which makes it easy to stash in an apartment, car trunk, or even a hallway. But the ride position and handling make it feel stable and substantial. As someone who rides everything from 25 lb e-bikes to 500 lb electric motorcycles, I can tell you that it weirdly feels like it borrows from both worlds.

And whether riding solo or with a passenger on the long banana-style seat, it never felt twitchy or undersized to me. I wouldn’t call it “spacious,” but the ergonomics are surprisingly dialed for something that fits in places most e-bikes wouldn’t dare.

Fold it, stash it, ride it again

Speaking of that ability to fit just about anywhere, one of the best features on the Doble is the folding design. The handlebars spin around 90-degrees and the foot pegs fold in, which shrinks the Doble’s footprint considerably into something barely wider than a bare bicycle frame.

You’re not fitting it in a backpack or anything, but you can tuck it next to a wall or inside a hallway without taking up half the space of a regular bike. As someone who lives in an apartment with around 3x the number of bikes as people, anything that can live flat against the wall without handlebars sticking out is a game changer for space savings.

That feature makes it one of the more realistic two-person e-bikes for urban dwellers who don’t have a garage or shed to stash their rides. This is a bike that can offer the two-up riding advantages of a motorcycle, yet stashes against the wall in a space no wider than a rolled up yoga mat.

The vibes are one of the best parts

I’ve tested a lot of e-bikes. Like, hundreds of e-bikes. Some are fast. Some are practical. Some are comfortable. But few are as downright fun as the MG Doble. There’s something about the way it takes off, the way it leans into corners, the way your passenger holds on when you accelerate – it just delivers this goofy grin factor that’s hard to describe. It’s quick, nimble, and feels more like a personal scooter-meets-minibike hybrid than a traditional e-bike. But in the best possible way.

Yes, there are no pedals. That means no exercise and, for some, an immediate disqualifier. But it also means no weird pedal placement issues or crank arms hitting your passenger’s legs. This was built to be throttle-only, and JackRabbit leans into that unapologetically. You’re not pretending to pedal here – you’re just mashing the throttle and enjoying the ride.

And by doing away with the pretense of pedaling, JackRabbit doesn’t run into the same issues that many pretend e-bikes have, trying to sneak a nearly 100-lb mini motorcycle into bike lanes with a pair of theoretically usable but practically unused pedals getting in the way. Instead, JackRabbit delivers the Doble as a mere 52-lb two-seater that glides easily at 20 mph (32 km/h), or can hit higher speeds of 24 mph (38 km/h) in unlocked mode designed for off-road use.

Power and portability

The MG Doble is surprisingly powerful for its size. The “749 Watt” motor seems suspiciously rated in a way has me thinking it might not stop exactly at 749 watts. It definitely delivers plenty of torque for city riding, and the throttle response is snappy without being jerky. It climbs hills better than you’d expect (though I only had minor hills and parking garage ramps to test it on in pancake-flat Florida), and it doesn’t feel like it’s working hard to carry two people. In fact, I really didn’t notice a difference in power, even with a 110 lb passenger on the back.

The wide handlebars give it great stability and maneuverability, though there is a tradeoff: when you’re making tight turns, your hands have to reach all the way forward to the outside bar end with those wide grips, which can be a little awkward if you’re used to narrower bars.

That said, I’ll take the wide bars over twitchy steering. It feels planted in corners and stable at speed, which is especially important when riding two-up.

That being said: if you’ve never ridden with a passenger before, take some time getting to know the bike before bringing a friend or partner along. My wife and I live a car-free life and spend most of our commuting time on two-wheels, either separately or together on the same bike/scooter/motorcycle/whip-of-the-day. If you’re just getting started in your two-up riding career, start slow and practice in a parking lot or other open area so you can see how turns and sudden braking affect the ride. And remind your girl (or guy) to essentially be a backpack, not trying to balance things out themselves but to just hold on to you and let you do the work.

Rangebuster batteries are a game changer

One of my favorite features on the MG Doble is the battery system. JackRabbit’s “RangeBuster” swappable batteries are small, lightweight, and easy to carry – but they offer solid range for their size. Each battery is good for 24 miles (38 km) of range, meaning you’re packing 48 miles (77 km) of range with the pair of them on the Doble. I can’t imagine someone needing more range that that, but if you did, they’re easy to carry as spare batteries. Instead of lugging around a typically bulky e-bike battery, you can toss a spare RangeBuster or two in your backpack and swap it in seconds when you run low on charge.

It’s a brilliant solution for urban riders, delivery workers, or anyone who wants to go further without the bulk. However, it’s worth noting that the battery locks are sold separately. They come with the convenient thumb twist lock to hold the battery in, but if you’ll be locking your bike up, you might want to opt for the keylock accessory. For a $2,499 e-bike, I would have liked to see those included standard.

Are those hydraulic disc brakes?

JackRabbit touts the MG Doble’s hydraulic disc brakes, though if you look closer, you see mechanical cables running from the brake levers on the bars. So what gives?

Well, these are actually what are commonly referred to as hybrid hydraulic brakes. There’s a hydraulic piston doing the braking, but not where you’d expect. Instead of the piston being mounted with a reservoir up on the bars, it’s actually down on the caliper itself. A mechanical cable actuates it instead of sending hydraulic oil through lines down to the caliper.

You get the power advantages of hydraulic brakes as well as the at-home workability advantages of mechanical brakes. But like all good compromises, they’re also a compromise. You do end up with some cable stretch over time, though not as much or as frequently, since you don’t have to pull the cable as hard to get strong braking power.

So it’s an interesting solution, but not one we see very often in the e-bike world.

The price and the pedal-free problem

That brings us to the elephant in the room: the price. At $2,499, the MG Doble isn’t cheap. You can get a full-suspension fat tire e-bike with more power and more range for less. But it won’t be this compact, this fun, or this capable at carrying two people in such a small footprint.

To put it frankly, the JackRabbit MG Doble can do things that no other bike can do. It just can. You can debate whether or not that makes it worth the price (and there are legitimate arguments to be made either way). But you can’t say it’s not an innovative, interesting solution that required some pretty unique engineering to get there.

And sure, it’s got downsides. You’re sacrificing the ability to get any sort of workout. You don’t get any suspension. And you’ll probably end up with a few bugs in your teeth from all the smiles.

For me, the lack of exercise is ok. I have plenty of other rides with pedals and I rely on my morning run for that health fix, anyway. When I hop on a bike like this, it’s more about transportation, not a workout.

And I get that JackRabbit had to invest significantly in the development of such a unique bike that can’t rely on the same economies of scale leveraged by all the other countless e-bikes out there sharing the exact same components. But jeez, that’s still quite a stack of cash.

What’s my summary?

I will say unequivocally that the JackRabbit MG Doble is a blast. It’s compact, powerful, and fun – and it fills a very specific niche that few other e-bikes touch. It’s not trying to be everything to everyone. It’s trying to be a two-person, throttle-powered, fun-loving little beast. And in that regard, it nails it.

Yes, it’s expensive. And no, you’re not going to break a sweat riding it. But if you’re looking for a compact two-seater e-bike that’s portable, peppy, and bursting with personality, the MG Doble is one of the most enjoyable options I’ve tested all year.

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Porsche exec says driving Hyundai’s electric sports car was ‘eye-opening’

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Porsche exec says driving Hyundai's electric sports car was 'eye-opening'

Porsche may take a page from Hyundai’s playbook after taking the IONIQ 5 N for a spin. After driving the electric sports car, a Porsche executive said it was “eye-opening” and hinted that it might steal a few fun features.

Porsche is impressed with Hyundai’s electric sports car

Who would’ve thought? Porsche is praising Hyundai for the work it’s done with the IONIQ 5 N, its electric sports car.

Frank Moser, Porsche’s vice president of the 911 and 718 model lines, called the IONIQ 5 N “eye-opening” after test-driving it several times.

“We learnt a lot from that. I drove it several times. They made it really, really good, Moser told Australian reporters (via The Drive) on the sidelines of the Icons of Porsche festival in Dubai.

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Hyundai’s electric sports car also impressed Andreas Preuninger, head of Porsche’s GT line, who oversees street-legal race cars like the 911 GT3.

“It was eye-opening,” Moses said, adding, “I remember I drove it with Andy Preuninger, he’s my Mr GT.” Porsche’s execs were especially impressed with added features like N Grin Boost, which unlocks the vehicle’s full power for 10 seconds.

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Hyundai IONIQ 5 N (Source: Hyundai)

“We entered the car and I pressed the button [N Grin Boost], and he was ‘Wow’. They did something which was impressive,” Moses told reporters.

When N Grin Boost is activated, the IONIQ 5 N delivers up to 641 hp and 545 lb-ft of torque, good for a 0 to 60 mph sprint in around 3.25 seconds.

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Hyundai IONIQ 5 N (Source: Hyundai)

The N Grin power boost is only one of the many features that Hyundai’s electric sports car offers. Other fun features like N e-Shift and N Active Sound + replicate the jerk-feeling and sounds of a high-performance internal combustion engine.

Virtual sounds and gear shifting, like the IONIQ 5, “is the way,” Moses said, but he urged drivers must be able to turn the feature off.

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The interior of the Hyundai IONIQ 5 N (Source: Hyundai)

“The customer could decide if he wants to drive in complete silent mode, or he wants to be part of the game, feeling the virtual sounds of a flat six and the virtual gear shifts,” Moses told the media. He added, “That would be the direction for the future.”

Meanwhile, Hyundai’s second electric sports car, the IONIQ 6 N, made its North American debut last week. It’s about the same size as the Porsche Taycan, but the IONIQ 6 N is expected to cost about half as much.

Following the electric Cayenne, which made its debut last week, Porsche is expected to introduce the 718 Boxster and Cayman EVs next year as a 2027 model year.

Ready to take Hyundai’s electric sports car for a spin? Check out our link to find the Hyundai IONIQ 5, including the high-performance N trim, in your area.

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2026, and the road ahead for clean fleets with TRC’s Joe Annotti

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2026, and the road ahead for clean fleets with TRC's Joe Annotti

TRC hosts the ACT Expo – America’s premier clean commercial vehicle show – and helps fleets find the funding and resources they need to decarbonize. On today’s episode of Quick Charge, we’ve got TRC’s Sr. VP of incentives Joe Annotti here to give us a 30,000 ft view of the road ahead.

We’ve also got a sneak peek at the agenda for the 2026 ACT Expo in Las Vegas, which is set to spotlight the full spectrum of technologies driving fleet advancement today, from digital and connected solutions to low-carbon and zero-emission vehicles. More than 12,000 attendees are expected from the fleet, shipping, OEM, utility, infrastructure, energy, and telematics sectors will be on hand, with a few dealers and policymakers to spice things up.

But, of course, the biggest buzzwords will be AI, autonomy, software-defined vehicles, and incentive-stacking – all of which might mean something else to a commercial fleet than it does to a soccer dad.

“The accelerated development and deployment of the range of digital solutions – on top of the increasingly wide array of powertrain technologies and fuel choices available to today’s commercial customers – is truly astounding,” says Erik Neandross, President of the Clean Transportation Solutions group at TRC, producers of ACT Expo.  “It is an incredibly exciting time in our industry, but one that we also know can be dizzying for fleets to keep up with it all.”

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come together for four days of peer-to-peer education, real-world case studies, and direct access to the people and solutions shaping the industry

I’ve included a few articles from last year’s ACT Expo in the show notes, below, as well as some links that we reference in the interview. Enjoy!

Prefer listening to your podcasts? Audio-only versions of Quick Charge are now available on Apple PodcastsSpotifyTuneIn, and our RSS feed for Overcast and other podcast players.

New episodes of Quick Charge are supposed to be recorded several times per week (most weeks, anyway). We’ll be posting bonus audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage podcast series.

Got news? Let us know!
Drop us a line at tips@electrek.co. You can also rate us on Apple Podcasts and Spotify, or recommend us in Overcast to help more people discover the show.


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