Ahead of its call with investors this afternoon, Lucid Motors has posted its Q1 2024 financial results. The numbers aren’t mind-blowing, but the American automaker is making slow improvements in EV deliveries and revenue as it gears up to launch its second model later this year.
Today’s full Q1 2024 financial report follows a peek at delivery numbers Lucid Motors ($LCID) made public in April. The American EV automaker reported record deliveries of its Air sedan to date, sending 1,967 vehicles to customers in the first three months of the year.
That metric bested its previous delivery record of 1,932 units in Q4 2022 and is up 13% compared to Q4 2023 (1,734 deliveries). That being said, Air production is significantly down following a dawdling demand for its lone model, which recently saw some 2024 model year updates and lower pricing.
Lucid produced a mere 1,727 BEVs in Q1 2024, down from 2,391 units in Q4 2023 (-27%). Still, Lucid Motors remains quite liquid following a fresh raise of private funds and has expressed confidence that it can remain on track to hit its production guidance for the entire year.
The 2024 Lucid Air Touring / Source: Scooter Doll
Lucid reports nearly $173 million in revenue in Q1 2024
You can check out the full Q1 2024 financial breakdown from Lucid Motors ahead of this afternoon’s call with investors, but here are some notable figures. Q1 revenue was $172.7 million year-over-year, up from $149.4 million in Q1 2023.
Operational losses were $729.9 million, down from $772.2 million a year ago, and net losses were $680.9 million, down YOY from $779.5 million. With the $1 billion investment from the Saudi Arabian Public Investment Fund (PIF), Lucid relayed that at the end of Q1 2024, it remains quite liquid with approximately $5.03 billion. Lucid CEO and CTO Peter Rawlinson elaborated:
I believe there are two factors that set Lucid apart – our superior, in-house technology and the partnership with the PIF. Our sales momentum is building, our focus upon cost remains relentless, and we believe Gravity is on track to become the best SUV in the world.
Gravity is expected to begin deliveries before the end of the year and could contribute to Lucid’s production numbers. The automaker said it remains on track to produce approximately 9,000 BEVs in 2024. For comparison, Lucid Motors built 8,428 EVs in 2023.
Gravity will be followed by a third model, currently codenamed “Mid-size,” which will be available in at least two variations and has the potential to be a true competitor to companies like Tesla and Rivian.
Gagan Dhingra, Lucid’s interim chief financial officer and principal accounting officer, also spoke about the automaker’s progress
We continue to make significant progress on our cost optimization programs. We’re focused on significant growth as we enter the next transformational phase of Lucid’s end markets while simultaneously driving cost discipline.
You can tune into the live webcast with investors discussing Lucid’s Q1 2024 numbers here.
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Nissan announced the new LEAF will start at just £32,249 in the UK after it became eligible for the maximum discount under the government’s Electric Car Grant.
The new Nissan LEAF gets a price cut with UK EV grant
After the UK government expanded the Electric Car Grant program on Friday, drivers will be able to save £3,750 ($4,900) on the new Nissan LEAF.
Nissan announced that the new 2026 LEAF will start at £32,249 ($42,200), including the grant. The government said in a press release that the discount will help boost Nissan’s sales, while also supporting jobs and UK manufacturing.
The new LEAF is on sale, and Nissan plans to begin production at its Sunderland plant in December. The first customer deliveries are scheduled for February.
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Nissan’s new LEAF will be available in four trims: Engage, Engage +, Advance, and Evolve. Initially, all versions will be equipped with a 75 kWh battery, providing a range of up to 386 miles (WLTP). Nissan said a cheaper 52 kWh battery pack will be available, delivering a range of up to 271 miles, which could bring prices under £30,000 ($39,300).
The new Nissan LEAF (Source: Nissan)
With 150 kW DC fast charging, the new LEAF can add 273 miles in about 30 minutes. It’s also the first vehicle to feature Nissan’s new 3-in-1 electric powertrain, boasting 160 kW (215 HP) and 355 Nm of torque.
The interior is revamped with new dual 12.3″ driver display and navigation screens with Google built in. Upgrading to the Engage+ or higher trim gets a bigger 14.3″ multimedia screen.
The interior of the new Nissan LEAF (Source: Nissan)
Including the new grant, the LEAF Engage+ trim is priced from £33,149, the Advance starts at £34,249, and the Evolve trim from £36,249.
For those in the US, the 2026 Nissan LEAF has the “lowest starting MSRP for any new EV currently on sale,” starting at just $29,990. It’s available in three trims: S+, SV+, and Platinum+, offering up to 303 miles of range. That’s a 25% improvement from the outgoing model.
Looking for a smarter, cooler, and genuinely more comfortable way to commute this winter? The NAVEE ST3 Pro Damping Arm™ Suspension City E-scooter has officially entered the chat — and for Black Friday, it’s dropping to an unmissable low price. If you’ve been waiting for the right moment to commit to electric travel, this is it.
From November 17 to December 2 (PDT), the NAVEE ST3 Pro Damping Arm™ Suspension City E-scooter is 20% off, reducing the price from USD$949.99 to $759.99. Canadian pricing drops from CAD $1,299.99 to $971.09. (On Amazon, the discount window is November 20 to December 1 (PDT).)
And if that wasn’t already awesome, NAVEE has tacked on an extra 5% off for Electrek readers when you use one of these codes:
Official Website: Use code ST3PRO5 — valid in the US & Canada through February 28, 2026
Amazon: Use code NAVEEST3PRO — valid in the US & Canada through February 28, 2026
Why the NAVEE ST3 Pro is a standout
The NAVEE ST3 Pro pushes the boundaries of what an electric scooter can be. It’s built for real-world riders who want power, range, comfort, and safety with their convenience.
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Auto‑grade ride comfort
The automotive‑grade Damping Arm™ suspension system uses four swinging polymer arms on both front and rear wheels, absorbing impact in ways traditional scooters simply can’t. Whether you’re rolling over brick roads, patched‑up potholes, or gravel, the ST3 Pro smooths out the chaos.
Power that actually counts
The 48-volt platform delivers up to 1350W of peak power, allowing you to power through 28% inclines without any power loss. Switch into Sport Mode when you want max speed of up to 25 mph, confidence, and faster reaction ability.
Safety is priority
With the triple braking system, NAVEE didn’t hold back:
Disc brake
Drum brake
Automotive‑grade eABS + traction control
This blend gives you enhanced stopping precision and a shorter braking distance, even during high‑speed or downhill commutes.
Long ranges that end anxiety
The ST3 Pro features a 596.7Wh battery system offering up to 46.6 miles of TÜV‑certified range at maximum speed. That’s nearly two days of commuting for many riders. For comparison, the ST3 model, with its 477.36Wh battery, achieves a range of up to 37.5 miles.
Regenerative braking adds even more efficiency, reclaiming up to 12% of total range.
Style + smart features
Want a scooter that looks as good as it rides? The ST3 Pro goes full futuristic with ambient lighting built right into the footboard – and not just a basic glow, but 15 fully selectable lighting modes to match your mood. Control it all with a tap in the NAVEE app.
Both the ST3 and ST3 Pro also come fully kitted with commuter‑ready lighting and connectivity:
Bright headlight for late‑night rides
Clean, visible taillight + turn indicators for safer signaling
Full companion app support for smart control, monitoring, and customization
Final thoughts
The NAVEEST3 Pro isn’t just another Black Friday discount — it’s a chance to level up your urban commute with comfort, precision, and premium technology that feels years ahead.
The 20% off sale runs from November 17 to December 2 (PDT) (on Amazon, it runs November 20 to December 1 (PDT)) — don’t miss out. And don’t forget to use the extra 5% off codes for Electrek readers of ST3PRO5 on the official website and NAVEEST3PRO on Amazon.
You can buy the NAVEE ST3 Pro Damping Arm™ Suspension City E-scooter at the following links:
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Yamaha is doubling down on urban electrification in Japan with the launch of its new Jog E electric scooter – and in a twist that we’ve been waiting years to see, it runs on Honda’s Mobile Power Pack e: swappable batteries.
Yamaha shared on its social media that the Jog E is set to begin a region-limited pre-sale on December 22, 2025, exclusively through Yamaha EV shops in Tokyo and Osaka. This rollout makes it the first Yamaha two-wheeler built around the Mobile Power Pack e system, which is becoming Japan’s de facto standard thanks to the joint battery-swap venture Gachaco.
It’s the result of an initiative that began way back in 2019, when many of the world’s leading motorcycle manufacturers built a consortium to develop a single swappable battery standard. At the time, it was seen largely as a way to compete against Gogoro, which had already developed a single swappable battery standard. Ultimately, instead of developing a battery standard, the consortium simply chose to elect Honda’s relatively little-used battery design as its standard. Now we’re finally seeing that battery employed in another major motorcycle maker’s vehicles.
A Yamaha built for battery swapping
Unlike typical electric scooters sold with a fixed battery, the Jog E is offered as a body-only purchase. Riders must separately subscribe to Gachaco’s paid battery-sharing service, which gives access to swap stations located throughout major cities.
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As of now, Gachaco operates 42 battery swapping stations in Tokyo, 7 stations in Osaka, and 2 stations in Saitama. It’s a far cry from the thousands of stations operated by Taiwanese competitors like Gogoro and Kymco, but it’s a start.
It also means Yamaha is restricting initial sales to Tokyo and Osaka EV stores, ensuring that buyers actually have infrastructure available. Yamaha says standalone batteries and chargers will arrive in the second half of 2026 for riders who prefer to own rather than swap.
Built for stop-and-go city life
Yamaha says the Jog E is tuned specifically for dense urban commuting, with smooth acceleration for constant stop-and-go traffic, plus familiar Yamaha scooter ergonomics and universal EV-forward design touches. We don’t get performance specs yet, but the urban focus means we’re likely looking at limited power and speed figures.
Riders will get two color options at launch: dark gray and light gray. Not exactly going nuts with the color wheel, there.
Pricing lands at 159,500 yen (about US$1,050), though that excludes battery service fees, registration, insurance, and other common costs.
Part of Yamaha’s bigger climate strategy
Yamaha says the Jog E plays a key role in the company’s path toward carbon neutrality by 2050. Specifically, it helps reduce emissions under “Scope 3, Category 11” – basically emissions generated from customers using Yamaha products.
The scooter also symbolizes a closer collaboration among Japan’s Big Four motorcycle makers, all of whom co-founded Gachaco along with energy giant ENEOS. Battery swapping is shaping up to be Japan’s most aggressive approach to mainstreaming electric two-wheelers, and the Jog E is a big step in that direction.
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