Lucid CEO teases a mid-size Tesla Model 3, Model Y competitor in development
During a ribbon-cutting ceremony celebrating the opening of Phase 2 at its AMP-1 production facility in Arizona, Lucid Motors CEO Peter Rawlinson briefly teased the automaker’s third model in the works – a mid-size EV that will arrive as a direct competitor to the Tesla Model 3 and Model Y.
Electrek was on location this morning in Casa Grande, AZ, home to Lucid Motor’s AMP-1 production facility, which now houses Phase 2 of the American automaker’s four-phase expansion plan. Since we last visited during the start of Air production two years ago, AMP-1 has expanded from approximately 800,000 square feet in size to over 3.8 million sq. ft.
Phase 2, which will be home to production of Lucid’s second flagship EV – the Gravity SUV, also includes a stamping machine and a second body shop and provides enough room to bring supply chain storage and powertrains in-house rather than building them up the road and trucking the parts over.
To celebrate the massive (on schedule) expansion, Lucid Motors held a ribbon-cutting ceremony mere feet away from the Air’s general assembly lines, attended by Arizona Governor Katie Hobbs and US Representative Juan Ciscomani, amongst several other local mayors and Arizona politicians.
The entire Lucid crew on shift at AMP-1 gathered around the stage as CEO and CTO Peter Rawlinson thanked them for all their efforts that helped get the relatively young automaker to today’s milestone.
Everyone applauded when Rawlinson touted the specs of Lucid’s Air sedan, which, even at its lowest tier trim level, provides better range (419) than its “closest competitor” (ahem, Tesla). The crowd oohed and aahed when Lucid’s CEO discussed the performance and market potential of the ultra-roomy Gravity SUV (for good reason). Still, one quick slide during the hour-long event genuinely caught my eye, and I’m surprised more people weren’t paying attention.
Rawlinson confirmed that a third Lucid model is in the works and physically exists in its development form. It will be a mid-size EV and the company’s first model with mass-market appeal. Better yet, Lucid’s CEO has come out and said this new EV will directly compete with Tesla – more specifically, the Model 3 sedan and Model Y crossover.
Lucid’s mid-size Tesla competitor coming, but a ways away
Following the event, a more affordable Lucid model was all I could think about, although there were plenty of other sights and essential people to chat with to pique my interest further.
For example, Lucid’s senior vice president of design and brand, Derek Jenkins, walked me around the Gravity SUV inside and out, which I will follow up on in a separate piece. But as Jenkins and I sat in the front seat of Lucid’s second model, he shared some tidbits of what we can expect to see on what we are now calling “project mid-size.”:
Mid-size is a super exciting program. The whole point of all of this is to establish ourselves in this luxury segment and then take all the attributes, all the capability, and a version of the technology and go mainstream. That’s what that car represents, and it has all of that, surprisingly. So stay tuned. We’re going to say as much as we can as soon as we can, but I will say the design is fairly solidified at this point, but there are still things being reviewed,
Before my tour of AMP-1 Phase 2, I got a few minutes to sit down with Peter Rawlinson, who immediately reminded me that he has made good on his timelines to deliver Air and quadruple the size of AMP-1 by 2024. His next promise? “Gravity is going to be awesome.”
From what we’ve seen so far, it looks like another work of art in design, luxury, and, most impressively, in my opinion, efficiency – not just in kWh, but in space utilization and sheer optimization throughout the SUV.
While much of the early chat from Rawlinson was regurgitated specs from the presentation or details you can read on Lucid’s website, in the core of the CTO and CEO exists an ethos of “er.” As in, delivering cars that drive faster, go farther, last longer, and eventually are cheaper. Rawlinson shared that strategy with me last time we were in Arizona together, following the launch of Air production, sharing that he understands that the company’s vehicles are expensive, but that’s never been the end game.
The goal is to use that optimized technology and (hopefully) profits from those higher-end model sales to deliver a fully scaled, mass-market EV everyone can enjoy. That’s a similar strategy taken by America’s EV sweetheart Tesla with the Model 3, years after Rawlinson had left following his work on the Model S.
With Gravity production slotted this year and a third EV model design “fairly solidified,” Lucid is now targeting a much more significant chunk of consumers interested in a Tesla, and its CEO is quite open about it. Rawlinson was detailing Lucid’s second AMP facility, which will be erected in Saudi Arabia and have an annual capacity of 150,000 units annually. According to Electrek’s interview with the CEO, it will also be home to the production of the new mid-size model:
‘Mid-size’ is going to be our more affordable car – more of a (Tesla) Model 3, Model Y competitor. That’s coming in just a few years time. It already exists in a design studio, and it’s already with advanced engineering. I’m already working on ‘mid-size’ as I am on Gravity, on the technical side.
I immediately asked Rawlinson if Lucid’s Mid-size model would specifically be targeting the same audience and price range as the Tesla Model 3 and Model Y, which he confirmed and shared the following:
Our mid-size is, for the first time, its overtly going to be a Tesla competitor. Its going to be the Tesla Model 3 and Model Y. It’s our big volume platform and we’re going to do this and this is a few years from now.
I want to be very clear about that – we may be Mercedes’ competitors today, but we’re going Model 3 and Model Y.
“Years away” feels like a decade in the ultra-fast world of EV development, and Lucid will probably have to take a few more lumps before it reaches scaled production of “project mid-size” (remember, the Model 3 almost bankrupted Tesla).
A lot will depend on the success of Gravity – not only in sales but what the unique SUV can bring to Lucid in terms of clout and brand recognition, ideally driving more consumers to learn more about Air and, eventually… hopefully, this new mid-size EV.
Nothing for you Tesla Stans fans to worry about just yet; Lucid has homework to do, but competition breeds innovation, and it’s nice to see another American automaker, at the very least, targeting quality affordable EVs. Let’s hope it can deliver.
Bonus question – What do we think “mid-size” will be called? I’m betting something like “arcane” or “ether, you know, since “Ocean” was already taken. Hey, those could at least make for better code names than “Project mid-size.”
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The city of London has released a report showing drastic drops in air pollution since it expanded its Ultra Low Emission Zone, an area within the city where polluting vehicles must pay a congestion charge to visit.
The London Ultra Low Emissions Zone is an area within London where vehicles that do not meet modern emissions standards must pay an additional charge to drive. The charge is £12.50 (~$16) per day, and the restriction is enforced 24 hours a day.
It was first established under current London mayor Sadiq Khan in 2019, though had previously been announced in 2015 by Boris Johnson during his stint as London mayor.
While the area covered by the zone only encompassed Central London in 2019, Khan went on to expand it in 2021 and 2023, and it now covers all of Greater London, where around 9 million people live.
Each of these expansions met with resistance and the ULEZ became a flashpoint during UK elections, including specifically the London mayoral election. Previous UK Prime Minister Rishi Sunak took a pro-pollution stance in opposing the zone, despite it originally being proposed by his own party. In the end, despite the criticism, more Londoners supported the plan than opposed it, and Khan weathered the storm and was re-elected.
This zone is separate from London’s congestion charge zone, which covers Central London and applies to all vehicles that enter. ULEZ is intended to reduce pollution, while the congestion charge is intended to reduce traffic (though also has an effect of reducing pollution).
The ULEZ restrictions are actually not all that strict, especially from the perspective of us here at an electric vehicle publication – most diesel and petrol (gasoline)-powered cars made within the last 10 and 20 years respectively qualify, despite that they still create significant tailpipe pollution.
Also, there are exemptions available for delivery vehicles, buses and so on.
Nevertheless, despite these exemptions, a recent report released by the city of London shows how well the ULEZ has worked at lowering pollution in London and making everyone healthier.
Report finds massive drop in pollution after ULEZ implementation
The report points out that two of the most dangerous aspects of vehicle emissions – nitrogen oxides, which are responsible for smog formation, and PM2.5, which are tiny particles that irritate the lungs – have dropped by almost a third compared to if ULEZ hadn’t been implemented, in only the few years that the policy has been in place.
Specifically, NO2 is 27% lower and PM2.5 is 31% lower in outer London. Nitrogen oxides (which includes both NO and NO2) as a whole are down 14%.
Some areas have seen even more significant declines, like Central London, the most densely populated area. It has seen a drop in NO2 levels of 54%.
All in all, 99% of air quality monitors around London have showed a reduction in pollution, so the new rules have benefitted everyone.
This is important because prior to the report’s period, some 4,000 people died in London each year due to toxic air pollution. If the most toxic parts of air pollution have reduced by almost a third, that should mean over a thousand lives saved per year as a result of these policies – and the associated misery and health costs that come along with.
And those benefits have been seen most by the communities that need it. In “deprived communities,” which tend to see the most pollution in the first place, there’s been an 80% reduction in people exposed to illegal levels of pollution.
The policy has also led to an associated reduction in carbon emissions, as one might expect. In five years, total carbon reduction has equalled the amount of carbon put out by roughly 3 million individual air trips between London and New York.
EVs are quite popular in the UK, with almost 3 out of every 10 cars sold being electric in 2024. That number continues to rise significantly, partially as a result of these policies. But also, high adoption is what makes policies like this possible – if EVs are already available and popular, it’s much easier for individuals to comply.
All in all, between June 2023 and September 2024, London saw 58% fewer non-compliant vehicles on the road, showing a significant shift in transportation patterns in just one year. This was helped by a £200m ($258m) scrappage scheme which helped pay to get 15,232 old vehicles off the road.
Electrek’s Take
We’ve seen similar moves like this from other cities and countries, and each time, they seem to work quite well.
Congestion pricing, which again is not quite the same as ULEZ, has been popular in a number of countries and cities, and has definitely resulted in lower pollution, less traffic, and easier trips – and it works quickly, too.
And, despite what those who have fallen victim to oil propaganda like to say (feel free to check the comments on our articles or social media sometimes, sigh), sure enough, electric vehicles are helping to clean the air a lot.
We’ve seen real-world results that areas with higher EV adoption see lower pollution, which shouldn’t be a surprise to anyone, except that, oil, one of the richest industries in the world with a lot of experience lying to you, has been trying to tell you otherwise.
And when temporary measures are taken by cities to transform their mobility systems, everyone seems to love it. When Paris kicked cars out and increased walkability and transport availability during the Olympics, the transformation got rave reviews. (We’ll see if Los Angeles can do the same in 2028).
It’s also unsurprising that when you disincentivize bad things, they go away. The world currently affords fossil fuels a subsidy of $7 trillion per year, and correcting for that subsidy by making them pay some of their fair share makes them less attractive to people. Maybe we should do more of that.
So it’s unsurprising to see London’s ULEZ working well, but it’s nice to have confirmation, particularly given the controversy around it at the time.
We’d like to see similar schemes elsewhere – like New York City, which recently implemented congestion pricing for the famously traffic-choked city (“no one in New York drives, there’s too much traffic“). Though, just like every other good idea, former New York resident and convicted felon Donald Trump has tried to block NYC’s congestion pricing plan, in his apparent quest to make literally everything worse.
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Honda’s electric SUV took the US by storm, becoming the top-selling EV in the US outside of Tesla in the final three months of 2024. This year, Honda is making the Prologue even more attractive, upgrading it with over 300 miles of range. With 2025 Prologue models now arriving at dealerships, Honda wasted no time launching new deals this week.
2025 Honda Prologue EV deals and offers
After the first models were delivered last March, the Honda Prologue quickly became one of the best-selling electric vehicles in the US.
In the second half of 2024, the Prologue was the second best-selling electric SUV, trailing only the Tesla Model Y. This year, it boasts even more driving range and power.
Since Honda didn’t raise prices, it’s essentially a free upgrade (well, sort of). The 2025 Honda Prologue (2WD) now has a “top-class” EPA rating of 308 miles, up 12 miles from the outgoing model. It also packs 220 horsepower (+8) and 243 lb-ft of torque (+7).
The Prologue is still available in single-motor (2WD) and dual-motor (AWD) versions in three trims: EX, Touring, and Elite.
The AWD version now has a range of 294 miles (+13) for the EX and Touring trims and 283 miles (+10) for the Elite. It also now packs 300 horsepower (+12) and 355 lb-ft of torque (+25).
With DC fast charging speeds of up to 150 kW, the electric SUV can add 65 miles of range in around 10 minutes.
The 2025 Honda Prologue starts at $47,400, but with the $7,500 EV tax credit, prices could fall to under $40,000. And that’s for the EX single-motor version with up to 308 miles of range.
On Honda’s website, the 2025 Prologue is listed with a promotional rate of 2.99% APR for up to 60 months. Lease prices for the base model are not yet available, but the 2025 AWD EX is listed at $599 for 36 months with $4,299 due at signing.
Although the deals on the 2025 models are not nearly as good as the 0% financing and leases as low as $269 per month for the 2024 Prologue, Honda had to make up for the upgrades somewhere.
| Trim | Drive Configuration | Pricing | EPA Ratings | |||
| MSRP | After Federal EV Tax Credit | Plus $1,450 D&H |
Range Rating | MPGe Rating (City/Hwy/Combined) |
||
| EX | Single Motor (2WD) | $47,400 | $39,900 | $41,350 | 308 | 113 / 94 / 104 |
| EX | Dual Motor (AWD) | $50,400 | $42,900 | $44,350 | 294 | 108 / 90 / 99 |
| Touring | Single Motor (2WD) | $51,700 | $44,200 | $45,650 | 308 | 113 / 94 / 104 |
| Touring | Dual Motor (AWD) | $54,700 | $47,200 | $48,650 | 294 | 108 / 90 / 99 |
| Elite | Dual Motor (AWD) | $57,900 | $50,400 | $51,850 | 283 | 104 / 87 / 95 |
Honda is sweetening the deal with a charging package included in the Prologue’s price. You can choose from a free Level 2 home charger, a portable charging kit, or a $750 public charging credit.
The 2024 Honda Prologue is selling out fast with ultra-low lease and financing rates, while the 2025 model promises even more. Ready to try it out for yourself? You can use our link to find deals on the 2024 and 2025 Honda Prologue in your area today.
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In this photo illustration, the logo for the US tech firm “Block” is displayed and reflected in a number of digital screens on March 03, 2023 in London, England.
Leon Neal | Getty Images
With its stock down more than 30% this year and revenue growth slowing, Jack Dorsey’s Block is going bigger in lending.
The company on Thursday said it secured approval from the Federal Deposit Insurance Corporation to originate loans through its banking subsidiary, Square Financial Services, allowing it to offer small-dollar consumer loans directly rather than relying on external banking partners.
It’s an expansion of Cash App Borrow, the company’s short-term lending product. But it comes at a time of increased concerns surrounding consumer credit, with President Trump’s expansive tariffs and widespread government job cuts raising talk of a potential recession.
Transaction losses in Block’s lending segment jumped 39% last quarter, and while the company claims its underwriting model is strong, small-dollar lending is inherently risky.
“Cash App Borrow is designed to provide short-term cash flow in a simple and accessible way when alternatives are notoriously expensive and difficult for consumers to navigate,” Block said in the press release. The company added that the average Cash App Borrow loan was under $100 and about a month in duration.
Block didn’t immediately provide a comment.
In getting approval to operate the lending business out of its own bank, Block says it will be able to offer the product nationwide.
Last month, Block reported quarterly results that missed Wall Street expectations, with revenue growing just 4.5% from a year earlier. The stock plunged 18%, its worst one-day drop since 2020.
Around the same time, Block rolled out Afterpay, its buy now, pay later product, on the Cash App card. Chief Financial Officer Amrita Ahuja told CNBC that the launch aimed to provide customers with more credit options, and positioned Cash App as a banking alternative for some customers. Block acquired Afterpay, which competes with Affirm, for $29 billion in early 2022.
Also this week, Block announced a big investment plan in artificial intelligence.
The company said on Wednesday that it will deploy Nvidia’s AI systems with its latest Blackwell chips to power open-source AI research. Block didn’t say what specifically it’s looking to achieve through its AI buildout, but noted in the press release that it will “start exploring novel solutions for our customers.”
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