EV maker Lucid Motor’s (LCID) recent price cuts have been “well received by customers,” according to CEO Peter Rawlinson. The company’s leader also said the Gravity electric SUV launch is on track for November.
Amid a wave of price cuts that started with Tesla earlier this year, Lucid slashed prices earlier this month on its Air EV by up to $12,400.
The EV maker is offering what it calls the “Pure Summer Event,” featuring special lease and financing deals on the Lucid Air Pure AWD and available Touring and Grand Touring models. The promotion runs through August 31.
Those looking to purchase a Lucid Air Pure can save $5,000 with a new listing price of $82,400 (down from $87,400) and available 4.99% financing (for up to 72 months).
Lucid is also offering a lease deal that includes $749 per month for 36 months, with $7,699 due at signing. The Lucid Air Pure lease model price is $83,900, including destination.
The Air Touring is available at $95,000 (with 4.99% APR financing) or $1,149 per month lease (36 months) with $9,814 due at signing. The total lease price, including destination, is $112,400.
Lucid Air special price and lease offers (Source: Lucid Motors)
Meanwhile, the 1,050 hp Grand Touring Performance with 516 miles EPA estimated range is on sale for $125,600 or $1,399 per month lease with $10,899 due at signing (for a $140,000 lease model price). Both the Touring and Grand Touring are $12,000 off.
Lucid Air Pure electric sedan (Source: Lucid Motors)
Lucid Air EV price cuts are boosting interest
So far, the price cuts are working, according to Rawlinson. Lucid’s CEO told Yahoo Finance at the Pebble Beach Concours that it has seen an uptick in sales and increased interest in the brand following the promotional pricing.
Rawlinson said the company reverted to its original pricing, which he believes “we got about right.” He added:
We hit some really inflationary challenges particularly in batteries as we got into the summer of ’22. (So) we had to take a price action accordingly. But I’m delighted to say we’re back to our original pricing structure and, and that’s been so well received by customers in the market alike.
Although Lucid’s EVs don’t qualify for the $7,500 tax credit because of their price, they do qualify for the credit through leasing.
The move comes after Lucid’s deliveries fell for the second straight quarter in Q2 with 1,404 units. Meanwhile, the EV maker has several big launches coming up.
Lucid Air Sapphire on the assembly line (Source: Lucid Motors)
Lucid teased the 1,200 hp Air Sapphire coming off the assembly line last month, claiming it will be available soon. The ultra-high-performance EV starts at $249,000.
Rawlinson said the company offered test drives around Monterey Peninsula to build brand awareness for the upcoming Sapphire launch.
The EV maker is also set to release its first electric SUV, the Gravity, which Rawlinson says is on track for its official debut. He said, “We’re going to have a real launch event, an unveiling this November. So watch this place, there’s going to be a world premiere, and I’m really excited.”
Lucid Gravity electric SUV (Source: Lucid Motors)
Lucid has around 30 three-row Gravity SUV prototypes rolling around as it finalizes development. Although pricing has yet to be revealed, expectations are upward of $100,000.
Rawlinson didn’t mention specifics, so we will have to wait until Lucid releases third-quarter delivery numbers to see how well the price cuts are really working to stimulate demand.
Are you ready to try the high-performance, long-range, electric luxury sports sedan out for yourself? Take advantage of Lucid’s price cuts by using our link to reach out today and find your next Air EV at a great price.
FTC: We use income earning auto affiliate links.More.
The headquarters of the Abu Dhabi National Oil Co. (ADNOC), right, and Etihad Towers, center, surrounded by residential and commercial properties in Abu Dhabi, United Arab Emirates, on Sunday, April 10, 2022. It is not just about the oil production that countries need to pay attention to, but also investments in renewables, Alhmeri affirmed.
Christopher Pike | Bloomberg | Getty Images
Global private-equity giant KKR has expanded its partnership with the Abu Dhabi National Oil Company, acquiring a minority stake in ADNOC Gas Pipeline Assets.
That ADNOC subsidiary operates 38 gas pipelines and two export terminals in the United Arab Emirates. KKR did not disclose the value of the deal to CNBC.
The partnership follows ADNOC’s 2019 oil pipelines deal with KKR and BlackRock, which opened the door to foreign direct investment across the region.
“This investment reflects KKR’s commitment to expand partnerships and investment across the Middle East,” said David Petraeus, partner at KKR and chairman of the KKR Global Institute and KKR Middle East. “The region’s strong fundamentals, bold vision, and focused leadership offer increasingly attractive opportunities for global investors.”
Earlier this year, the firm appointed former CIA Director Petraeus, who joined KKR in 2013, as chair of its Middle East operations and launched a dedicated investment team led by Julian Barratt-Due.
The transaction marks another milestone in KKR’s expansion in the region. It acquired a stake in Dubai-based Gulf Data Hub, with a combined commitment from the two firms of more than $5 billion to fund the expansion of GDH’s data center network.
The ADNOC gas pipeline network, which links the company’s upstream assets to domestic off-takers across the UAE, remains fully owned and operated by ADNOC. KKR has taken a minority stake, so ADNOC will retain control. KKR’s stake — acquired through its managed accounts — is structured to yield long-term revenue, the company said.
The move expands KKR’s over 16-year presence in the Middle East, with offices in the UAE and Saudi Arabia. The firm now manages more than $90 billion in infrastructure assets globally since launching its infrastructure strategy in 2008, according to information on its website.
Daimler Truck AG CEO Karin Rådström hopped on LinkedIn today and dropped some absolutely wild pro-hydrogen talking points, using words like “emotional” and “inspiring” while making some pretty heady claims about the viability and economics of hydrogen. The rant is doubly embarrassing for another reason: the company’s hydrogen trucks are more than 100 million miles behind Volvo’s electric semis.
For some reason – posts about hydrogen always stir up emotions. I think hydrogen (not “instead of” but “in parallel to” electric) plays a role in the decarbonization of heavy duty transport in Europe for three reasons:
If we would go “electric only” we need to get the electric grid to a level where we can build enough charging stations for the 6 million trucks in Europe. It will take many years and be incredibly expensive. A hydrogen infrastructure in parallel will be less expensive and you don’t need a grid connection to build it, putting 2000 H2 stations in Europe is relatively easy.
Europe will rely on import of energy, and it could be transported into Europe from North Africa and Middle East as liquid hydrogen. Better to use that directly as fuel than to make electricity out of it.
Some use cases of our customers are better suited for fuel cells than electric trucks – the fuel cell truck will allow higher payload and longer ranges.
At European Hydrogen Week, I saw firsthand the energy and ambition behind Europe’s net-zero goals. It’s inspiring—but also a wake-up call. We’re not moving fast enough.
What we need:
Large-scale hydrogen production and transport to Europe
A robust refueling network that goes beyond AFIR
And real political support to make it happen – we need smart, efficient regulation that clears the path instead of adding hurdles.
To show what’s possible, we brought our Mercedes-Benz GenH2 to Brussels. From the end of 2026, we’ll deploy a small series of 100 fuel cell trucks to customers.
Let’s build the infrastructure, the momentum, and the partnerships to make zero-emission transport a reality. 🚛 and let’s try to avoid some of the mistakes that we see now while scaling up electric. And let’s stop the debate about “either or”. We need both.
Daimler CEO at European Hydrogen Week; via LinkedIn.
At the risk of sounding “emotional,” Rådström’s claims that building a hydrogen infrastructure in parallel will be less expensive than building an electrical infrastructure, and that “you don’t need a grid connection to build it,” are objectively false.
Next, the claim that, “Europe will rely on import of energy, and it could be transported into Europe from North Africa and Middle East as liquid hydrogen” (emphasis mine), is similarly dubious – especially when faced with the fact that, in 2023, wind and solar already supplied about 27–30% of EU electricity.
Unless, of course, Mercedes’ solid-state batteries don’t work (and she would know more about that than I would, as a mere blogger).
Electrek’s Take
Via Mahle.
As you can imagine, Karin Rådström post generated quite a few comments at the Electrek watercooler. “Insane to claim that building hydrogen stations would be cheaper than building chargers,” said one fellow writer. “I’m fine with hydrogen for long haul heavy duty, but lying to get us there is idiotic.”
Another comment I liked said, “(Rådström) says that chargers need to be on the grid – you already have a grid, and it’s everywhere!”
At the end of the day, I have to echo the words of one of Mercedes’ storied engineering partners and OEM suppliers, Mahle, whose Chairman, Arnd Franz, who that building out a hydrogen infrastructure won’t be possible without “blue” H made from fossil fuels as recently as last April, and maybe that’s what this is all about: fossil fuel vehicles are where Daimler makes its biggest profits (for now), and muddying the waters and playing up this idea that we’re in some sort of “messy middle” transition makes it just easy enough for a reluctant fleet manager to say, “maybe next time” when it comes to EVs.
We, and the planet, will suffer for such cowardice – but maybe that’s too much malicious intent to ascribe to Ms. Rådström. Maybe this is just a simple “Hanlon’s razor” scenario and there’s nothing much else to read into it.
Let us know what you think of Rådström’s pro-hydrogen comments, and whether or not Daimler’s shareholders should be concerned about the quality of the research behind their CEO’s public posts, in the comments section at the bottom of the page.
SOURCE | IMAGES: Karin Rådström, via LinkedIn.
If you drive an electric vehicle, make charging at home fast, safe, and convenient with a Level 2 charger installed by Qmerit.As the nation’s most trusted EV charger installation network, Qmerit connects you with licensed, background-checked electricians who specialize in EV charging. You’ll get a quick online estimate, upfront pricing, and installation backed by Qmerit’s nationwide quality guarantee. Their pros follow the highest safety standards so you can plug in at home with total peace of mind.
Chevy flew us out to San Diego and hosted us for a quick adventure to the mountains east of the city to show off the new Chevy Silverado Trail Boss EV. Was this the new boss of the trails or just some expensive inside and outside trim updates? As usual, the answer lies in between. Let’s take a look…
Exterior
Chevy’s Silverado EVs have a distictive look from the ICE varieties and that contiues with the new Trail Boss trim. Most notable is the smaller grill, hiding the large Frunk and triangular blades on the bed, both of which make the aero on the EV version better.
The trail boss extends the rugged looks on the outside with a 2-inch lift, and 35-inch all terrain tires. Somehow however, Chevy rates the same 410 miles extended/478 miles Max range as the unlefted, smaller tire LT. There is a slightly reduced 625/725 horsepower over the 645/760 horsepower LT but higher torque which jibes with the bigger tires and the off roading motif.
Standard four-wheel steer and Sidewinder diagonal steering give it the ability steer around tight corners and drive diagonally like its GMC Hummer and Sierra Crabwalking brethren.
Advertisement – scroll for more content
Interior
The inside of the Trail Boss is distinctly sport/rugged exclusive (any color as long as it is) Black and Artemis interior with Red accent stitching reminiscent of the Chevy Blazer EV SS. Like other Silverado EVs, there’s a midgate that allows lots of expandibility options.
The drive
There’s a lot to love about the drive. I’m always amazed how well this huge GM EVs handle driving around town. I got to trailer a 10,000lb Polaris for 20 minutes and almost forgot it was there (which ironically is probably its biggest safety hazard). Unfortunately we weren’t on any Supercruise approved roads but I’ve taken the Sierra EV out on long trips and it is one of, if not the best Super Cruise form factors available.
Off roading was a little tame for my tastes – perhaps I’ve been spoiled by Rivian adventures. We hit some dirt roads/trails in a very slow a deliberate manner. With the huge, heavy battery, long wheelbase and gargantuan footprint, this isn’t as agile through the trails as I’d hoped. However that rear steering did help turning radius quite a bit and it chomed up everything we threw at it, especially in Off-road mode. I think the Silverado has a lot more to offer than what we got to see on this trip in terms of off roading. In the breif moments I was able to air this thing out, on road and off, it never dissapointed.
Charging
Charging for the Trail Boss is almost completely like the other Silverado EVs which means very fast CCS (no native NACS yet) charging on a huge battery. GM claims 100 miles in 10 minutes. On the Max battery, that will be at 350kW, 300kW on the extended battery. I have to give Chevy props however for making charging part of this adventure. We stopped at a Tesla Supercharger station, whipped out or NACS adapters and let it fly. At over 86% state of charge, we still got over 120kW of charging speed which is only slightly less impressive when you consider this is sort of like 2x100kWh batteries charging at 60kW/ea.
Electrek’s take
GM’s monster 205kWh hour battery is still the only game in town for those who want to tow really long distances or get huge range out of a monumentally inefficient full-sized pickup design. For towing, nothing will take you further between charges, Silverado/Sierra EVs are the distance champs.
The Silverado EV Trail Boss though takes that off road in a meaningful way with the lift, bigger tires and off road modes, perhaps not as seriously as the Hummer EV but at a much more palatable starting price of $72,000.
Also this is the biggest mobile battery in town with its 10kW output which will go full bore for an amazing 20 hours on a charge. That means you can run your house/campsite/worksite/etc for much longer and at higher power than anyone else.
FTC: We use income earning auto affiliate links.More.