California-based Lucid Motors will take on Porsche, Mercedes-Benz, and BMW on their home turf with its new EV retail studio in Germany.
Lucid’s new EV retail space is located in the heart of Düsseldorf on the famed Königsallee, a shopping boulevard known for its flagship brands, including Prada, Gucci, Louis Vuitton, and others.
The location is Lucid’s second in Germany and fifth in Europe as it expands the luxury brand overseas. As “a country with a passion for cars,” Zak Edson, VP of sales and service at Lucid, explained, “We are delighted to open our second studio in Germany.”
After a warm reception at the debut of its first store in Munich, the luxury EV maker “confirmed that German customers are ready for Lucid.”
“The Autobahn-tuned Lucid Air has exceptional range, unique design, incredible performance, and superior charging times,” Edson explained.
With up to 518 miles (833 km) of WLTP range, the Lucid Air can travel from Amsterdam to Berlin on a single charge. With fast charging and Lucid’s proprietary EV tech, you can gain up to 248 miles (400 km) in just 15 minutes.
The Lucid Air’s performance is on par with, if not better than, most rivals with a choice of single- or dual-motor options with up to 1,126 hp (828 kW), enough to accelerate from 0 to 62 mph (0-100 km/h) in 2.7 seconds.
Lucid EV studio in Europe (Source: Lucid)
Lucid moves in on Porsche territory with new EV studio
Lucid revealed it had delivered its first Air electric sedans in Germany last December. According to Lucid’s latest lease offers in the country, the Air Pure starts at EUR 109,000 ($115,200). Other trims, including the Touring, start at $136,300, the Grand Touring at $168,000, and the Dream Edition fully equipped at $230,300.
Porsche Taycan Turbo (Source: Porsche)
Meanwhile, Porsche’s Taycan, one of Lucid Air’s direct competitors, starts at EUR 93,139 ($98,400) for the base model.
Other versions include the Taycan 4S ($121,000), GTS ($148,000), and Turbo ($174,000). In terms of performance, the base Air Pure includes 42 more horsepower than the Taycan 4S, the closest in pricing. Both claim to achieve 0 to 62 mph in 4 seconds.
Lucid Air in Munich (Source: Lucid)
Lucid’s Air is unrivaled when it comes to range. The base trim offers up to 450 miles (725 km) of WLTP range compared to the base Taycan with up to 275 miles (443 km) of range and Taycan S featuring up to 281 miles (452 km) of WLTP range.
Both electric models feature a premium, tech-oriented interior with ample space and generous features.
Interior of the Lucid Air Pure (Source: Lucid)Interior of the Porsche Taycan (Source: Porsche)
Electrek’s Take
Porsche is known for its high-performance luxury cars, but Lucid is ready to make a statement.
Powered by its in-house tech, Lucid is expanding overseas to take on German auto powerhouses like Porsche, Mercedes-Benz, and BMW.
The EV maker also just became the first automaker to open a manufacturing plant in Saudi Arabia, giving it access to a global shipping port. Backed by the country’s Public Investment Fund, Lucid has struggled to gain traction in the US. Can an overseas expansion fuel growth?
Of the 26 EV manufacturers in the US, Lucid slipped to 18th, falling behind Porshe, Cadillac, and Subaru. The luxury EV maker hopes to find its footing in international markets.
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Now, we have the delivery numbers for Tesla in all European countries, and the automaker is down 37% on the old continent compared to 2024, which was already a down year for Tesla.
On top of it, Tesla is down in every single country except the UK.
Here are Tesla’s Q1 2025 deliveries in each European country compared to Q1 2024:
Country
Q1 2024
Q1 2025
Change
Germany
13,068
4,935
-62.2%
UK
11,768
12,474
6.0%
France
11,360
6,696
-41.1%
Belgium
7,219
3,019
-58.2%
Netherlands
6,854
3,445
-49.7%
Norway
5,121
3,817
-25.5%
Other
4,420
3,301
-25.3%
Sweden
4,312
1,929
-55.3%
Italy
3,721
3,469
-6.8%
Spain
3,601
3,169
-12.0%
Denmark
3,558
1,549
-56.5%
Switzerland
3,264
1,238
-62.1%
Portugal
2,888
2,145
-25.7%
Austria
2,506
1,304
-48.0%
Poland
1,264
899
-28.9%
Finland
894
475
-46.9%
The drop in sales in Germany was the most devastating for Tesla. It went from being Tesla’s biggest European market to being a distant third.
France also saw a significant 41% decline in sales.
This is also happening while electric vehicle sales are surging, regardless of Tesla’s performance.
Tesla is feeling the pain virtually everywhere in Europe except in the UK, but that’s because Tesla is selling its vehicles for much cheaper there.
In the UK, the Model Y PCP leasing starts at £399, which is the equivalent of €462, when the same vehicle starts €570 in Germany:
Interestingly, that’s not the case for the Model 3, which starts higher in the UK than in Germany.
Electrek’s Take
The reason for that is unclear to me. I’d love to hear theories in the comment section.
Could it be that Tesla planned to produce too many right-hand-drive vehicles and had to lower prices to ensure that it could deliver them?
It’s unclear, but I think the theory has some traction since I just learned that Tesla is also already discounting the new Model Y in Hong Kong – another right-hand-drive market.
Either way, I think it’s clear at this point that Tesla is having significant brand issues in Europe, in addition to increased competition.
Yes, Model Y had some supply issues due to the design changeover, but Model 3 sales are also down 11% compared to Q1 2024, when Tesla was still ramping up production of the Model 3 design refresh.
Tesla shareholders need to wake up. This is a self-inflicted wound that can be remedied by removing Elon Musk.
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That Kia EV sedan we’ve been waiting for is almost here. Kia also confirmed it will launch a midsize pickup in North America. Next week, three new Kia vehicles, including the EV4, its first electric sedan, will debut at the New York International Auto Show. Here’s what to expect.
Kia’s first electric sedan will debut at the NY Auto Show
Back in 2023, the EV4 stole the show as a concept during Kia’s first EV Day. Earlier this year, Kia unveiled the production model, debuting as the brand’s first electric sedan and hatchback.
The electric sedan is among the most highly anticipated EV launches of 2025. Kia’s EV4 will arrive this year as part of its low-cost EV lineup, and it could be a true challenger to the Tesla Model 3.
After opening orders in Korea last month, Kia said the EV4 will “set a new standard for electric sedans,” starting at just 41.92 million won, or about $28,000. It has two battery options, 58.3 kWh or 81.4 kWh, providing a range of 237 miles (382 km) and 331 miles (533 km) in Korea.
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With its North American debut now officially set for next week, Kia teased the new EV, claiming it will be one of three new vehicles.
The new vehicles include a sedan, an SUV, and “something in between.” Two will be fully electric, while the other offers a “sporty and versatile approach in the compact car segment.”
Kia EV4 electric sedan teaser for North America (Source: Kia)
More EVs are on the way, including an electric pickup
During its CEO Investor Day on Wednesday, Kia confirmed plans to launch a new midsize EV pickup for North America. In the long-term, the company aims to eventually sell 90,000 units for about 7% of the market share.
Kia’s electric pickup will be based on a new EV platform built for city and outdoor use. According to Kia, it will offer “best-in-class interior and cargo space, a robust towing system, off-road capabilities, and advanced infotainment and safety features.”
Kia Tasman pickup truck (Source: Kia)
Following the EV6 and EV9, Kia is expanding its electric car lineup with the new EV3, EV4, and EV5, which will roll out this year. Kia is also launching its first electric van, the PV5, to kick off its new PBV business.
By 2030, the company plans to sell 2.33 million electrified vehicles, accounting for 56% of global sales. This includes 1.26 million EVs and 1.07 million hybrids.
Kia unveils EV4 sedan and hatchback, PV5 electric van, and EV2 Concept at 2025 Kia EV Day (Source: Kia)
As it expands its lineup, Kia expects electrified models to account for 70% of sales in North America, 85% in Europe, and 73% in Korea by the end of the decade.
Kia boasted that it will “lead the mass adoption of EVs by expanding its EV lineup with the addition of another volume model, the EV2,” which is expected to launch in early 2026.
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An oil pumpjack is seen in a field on April 08, 2025 in Nolan, Texas.
Brandon Bell | Getty Images
U.S. crude oil futures fell about 3% on Wednesday, as China announced retaliatory tariffs on the U.S. after President Donald Trump’s sweeping levies took effect.
The U.S. benchmark dropped $1.83, or 3.07%, to $57.75 per barrel by 9:41 a.m. ET. Global benchmark Brent tumbled $1.93, or 3.07%, to $60.89.
The oil sell-off took a leg lower earlier in the session after Beijing announced tariffs of 84% on U.S. goods in response to Trump’s levies. U.S. crude fell more than 7% to an intraday low of $55.12, while Brent tumbled to $58.40 at its lowest point during the session.
China’s tariffs take effect on April 10.
Traders are worried the world is descending into a full-blown trade war that will trigger a recession, hitting crude oil demand. OPEC+, meanwhile, has agreed to accelerate output in May, which will bring more oil to a market that was already facing a surplus.
The collision of recession fears and growing oil supply is a “toxic cocktail,” Helima Croft, global head of commodity strategy at RBC Capital Markets, told CNBC on Tuesday.
The U.S. and Iran are scheduled to hold talks in Oman on Saturday to discuss the Islamic Republic’s nuclear program. Successful negotiations could result in more Iranian oil entering the global market.