Connect with us

Published

on

Lucid Motors (LCID) stock was down as much as 20% during Thursday’s pre-market after the company announced plans to sell over 262 million shares. The new stock offering is causing share prices to slide ahead of Lucid’s first electric SUV, the Gravity, which will launch later this year.

Lucid announced plans to sell 262.4 million shares of common stock through a new public offering on Thursday.

The EV maker also gave its underwriter, BofA Securities, a 30-day window to purchase an additional 39.4 million shares.

Lucid said in a statement that its majority shareholder, PIF affiliate Ayar Third Investment Company, agreed to purchase 373.7 million shares of common stock in a private placement. The transaction is expected to close on October 31, 2024, while the public offering is planned to close “on or around” October 18, 2024.

Following the private placement, Ayar will still own around 58.8% of Lucid’s outstanding common stock.

Lucid said it will use the new funds for “general corporate purposes,” which could include capital expenditures and working capital, among other things.

Lucid's-stock-offering
Lucid Air (left) and Gravity SUV (right) models (Source: Lucid)

Lucid’s (LCID) stock falls after new share offering

Lucid’s stock was down nearly 20% in Thursday’s pre-market trading following the new share offering. Share prices are down over 30% in 2024 and almost 44% over the past 12 months.

Meanwhile, the company is preparing to launch its first electric SUV, the Lucid Gravity, later this year.

Lucid-Gravity-SUV
Lucid Gravity SUV (Source: Lucid)

The new share offering comes shortly after Lucid revealed another $1.5 billion commitment from Saud’s PIF. After ending the second quarter with $4.28 billion in liquidity, Lucid said it had enough to fund it through Q4 2025.

Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Full-year 2023 Q1 2024 Q2 2024 Q3
2024
YTD
2024
Lucid EV deliveries by quarter 1,932 1,406 1,404 1,457 1,734 6,001 1,967 2,394 2,781 7,142
Lucid (LCID) EV deliveries by quarter through Q2 2024

Lucid has now had three consecutive quarters of record deliveries. With another 2,781 vehicles handed over in Q3, Lucid deliveries reached 7,142 through the first nine months of 2024.

In an SEC filing on Wednesday, Lucid announced that Q3 revenue is expected to be between $199 million and $200 million.

Lucid's-stock-offering
Lucid (LCID) stock chart Q3 2023 through Q3 2024 (Source: TradingView)

As of September 30, 2024, Lucid had about $5.16 billion in liquidity, including around $4 billion in cash and equivalents. Check back soon, as Lucid will report its full Q3 earnings on November 7.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

New exclusive Anker C300 DC 90,000mAh power station $148 low, Samsung Bespoke all-in-one washer/dryer $1,000+ off, more

Published

on

By

New exclusive Anker C300 DC 90,000mAh power station 8 low, Samsung Bespoke all-in-one washer/dryer ,000+ off, more

Leading today’s Green Deals is an exclusive discount on Anker’s latest SOLIX C300 DC 90,000mAh/288Wh Portable Power Station that drops costs to a new $148 low price while also giving you some free gear. Next, we spotted Samsung’s AI-supported Bespoke All-in-One Electric Washer & Ventless Heat Pump Dryer starting from its $1,800 Best Buy low, with some additional chances to save. We have two great Greenworks deals – one on the 40V 20-inch Cordless Electric Push Mower that just hit a new $304 Amazon low, with a more advanced combo bundle that gets you a mower, blower, and string trimmer. Bringing up the rear is a one-day-only discount on GoTrax’s Z4 LITE Folding e-bike that has dropped it back to a $600 low. Plus, all the other hangover Green Deals in the links at the bottom of the page, like yesterday’s coverage of the latest sales on Velotric’s e-bikes and NIU’s KQi e-scooters, and more.

Head below for other New Green Deals we’ve found today and, of course, Electrek’s best EV buying and leasing deals. Also, check out the new Electrek Tesla Shop for the best deals on Tesla accessories.

Get an exclusive discount on Anker’s latest SOLIX C300 DC 90,000mAh power station to a new $148 low

We’ve got an exclusive chance for 9to5Toys readers to save more money than before on Anker’s newest SOLIX C300 DC 90,000mAh Portable Power Station while getting some free gear all for $148 shipped, after using the promo code 9TO5PBANK26. Down from a $200 price tag, we’ve already seen a few discounts for this unit since it first hit the market in August, with the biggest of them being its $150 launch price which we just saw repeat for the first time at the tail-end of last month. It’s getting beaten out here today though, as this promotion gives you a slightly bigger 26% markdown that saves you $52 and sets a new all-time low price. Not only does it beat out Anker and Amazon’s current markdowns to $180, but it also comes with a free USB-C charging cable as well as a carrying strap which hasn’t been offered with the station since its early-bird launch special.

Anker’s SOLIX C300 DC power station arrives in a compact 90,000mAh/288Wh unit that easily stores away inside your bag, delivering up to 300W of power output for your more personal devices. This model boasts the first of Anker’s inclusions of boosted recharging speeds that you can take advantage of by using its two bidirectional 140W USB-C ports at the same time for up to 280W speeds. There’s also the bonus option of recharging its battery via a 100W solar panel that refills it in 3.2 hours. You’ll have a solid variety of output connection options with its four USB-C ports (a 15W port, a 100W port, and the two 140W ports), two 12W USB-A ports, and a 120W auxiliary port.

Taking a note from its predecessor, the 60,000mAh PowerCore Reserve, Anker has continued the trend of including an integrated pop-up LED light in the C300 DC power station that provides three different brightness levels that can be used as a camping lantern or emergency light source. While you can monitor and adjust settings through the companion app via a Bluetooth connection to your smartphone, it also provides readouts on its display too.

Anker C300 DC power station

Upgrade and save with Samsung’s AI-supported Bespoke all-in-one electric washer & ventless dryer from $1,800

Best Buy is having a Samsung savings event through October 20 that is cutting costs on a lineup of Samsung devices and appliances to update and upgrade your home life, with the brand’s Bespoke AI 5.3 Cubic-Foot All-in-One Electric Washer & Ventless Heat Pump Dryer down at $1,799.99 shipped. Normally going for $2,800 at Best Buy, with a greater $3,324 price tag direct from Samsung, we saw it fall to its lowest rate back in June when Costco offered a short-lived markdown to $1,600, while Best Buy last saw its $1,800 low during Labor Day sales. It’s returning here today though, offering up $1,000 in savings while also offering $50 rewards for My Best Buy Plus and Total members. Bargain hunters can also save an additional $278 when buying this model in excellent open-box condition.

One thing to note before we dive into its capabilities is that Samsung has this washer & dryer currently marked down to $1,999 shipped, with its open-box option being slightly higher than Best Buy’s at $1,599 (click the “add” box to the side), which does balance out the differences in cost with a few added benefits with either purchase. First, you’ll get two years of Samsung Care+ for just $1 over its usual $149 price on top of getting free installation too.

This ENERGY STAR-certified all-in-one washer & dryer arrives AI-supported for less time consuming and easier managed laundry routines that you don’t have to babysit. The AI programming in this model lets the unit detect different fabric types and adjust its own settings in response to their soil levels. Its detergent tank has been given a larger capacity than we often see in these appliances, holding up to 47 loads worth of detergent before needing a refill – plus, its Flex One compartment takes the convenience to the next level as it can be split between 25 loads of detergent and 34 loads of softener.

As is the case with models in the green category, we cannot gloss over the biggest design feature here: its ventless heat pump design. Not only does it allow you to rethink its placement in your home (as it doesn’t need to go where the one vent is located like standard models and plugs into a standard wall outlet), but its dual-inverter heat pump tech also significantly increases energy efficiency while working in conjunction with the AI system to calculate and predict your electricity costs to “reduce energy usage by up to 19%.” It’s also been given self-cleaning and self-drying tech to keep laundry coming out fresh, smart controls via the SmartThings app (as well as hands-free voice controls too), the EPA’s seal of approval, and much more. Head below to learn about the rest of what this appliance can bring to your home.

Be sure to check out the entire lineup of Samsung appliances and devices that are benefitting from Best Buy’s sale, like tablets, TVs, PCs, laptops, monitors, and more that we covered when it first launched. You can also check out the direct offers from Samsung here.

40V 20-inch cordless electric push mower

This reliable Greenworks 40V 20-inch cordless electric push mower saves you $96 at new $304 Amazon low

The colder months may be setting in on us, but lawns still need to be kept up and deals can often be better in these fall and winter months. Amazon is following this line of thinking as it offers the Greenworks 40V 20-inch Cordless Electric Push Mower for $303.98 shipped. Usually goes for $400, which isn’t too bad of a starting price for an electric mower (compared to some of the bigger high-end models). We’ve seen a few discounts over 2024 that bring costs down even lower, most repeating the same drop to the former $320 Amazon low, but today those rates are beaten out by this even greater 24% markdown that takes $96 off the price tag and lands it at a new Amazon low.

Powered by the included 4.0Ah battery, this Greenworks mower’s 40V brushless motor delivers a nice uniform cut for yards up to 1/3 acre in size after one round of charging. Everything is housed within a 20-inch steel deck crowned by LED headlights for those early morning and late evening jobs, while the folding handles “saves 70% more space in seconds with vertical storage.” There are seven different cutting height levels to choose from here, as well as a 4-in-1 design that does the usual mulching, side discharging, or rear-bagging for your grass clippings on top of a turbo leaf pickup setting for a bit more versatile use. Of course, you’ll never have to struggle with a pull string here either, as it has been given a convenient push-button start to compliment its electric functionality.

For folks looking to expand their lawn care arsenal beyond just a mower, Amazon is also currently offering a Greenworks bundle of an 80V 21-inch Self-Propelled Cordless Electric Lawn Mower, an Axial Leaf Blower, and a 16-inch String Trimmer at its lowest price of $630, down from $900. You’re getting a more advanced mower here that offers most of the same features as the above model, trading its turbo leaf pickup for an improved self-propulsion system alongside a greater runtime that can tackle yards up to 1/2 an acre. There’s also the Axial leaf blower that hits 580 CFM for yard-clearing power with a turbo mode and even cruise control locks, as well as the attachment-capable string trimmer with a bump feed head, variable speed control, and a load n’ go spool for faster and easier re-spooling.

Anker C300 DC power station

GoTrax’s entry-level Z4 LITE folding e-bike offers reliable first-time commuter at its $600 low for today only

Courtesy of its Deals of the Day, Best Buy is offering the GoTrax Z4 LITE Folding e-bike for $599.99 shipped for the rest of the day. Normally priced at $900, we’ve seen it listed at higher rates between $900 and $1,100 from other third-party retailers. We’ve seen a few of these one-day discounts drop costs on this entry-level model, first to $650 at the start of summer, and then some repeated falls to $600 in July and August. After a lull on price cuts until now, this is a chance to save yourself $300 while also grabbing this commuting solution at the lowest price we have tracked.

The GoTrax Z4 LITE e-bike makes a great first-time choice for riders looking to enter the e-bike world without dropping serious cash right away, delivering 20 MPH top speeds and an impressive traveling distance of up to 40 miles on a single charge (25 miles when you only use the throttle). The triple-folding frame design houses the 350W motor and the removable 48V battery while providing easier storage and transport options when not in use. It also comes along with 20-inch fat tires, dual front and rear braking, an integrated headlight and taillight that provides brake light functionality, a rear cargo rack, a kickstand, and a digital display.

Fall e-bike deals!

Anker C300 DC power station

Best new Green Deals landing this week

The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Aptera pushes SEV deliveries as it seeks additional funding, timelines remain ‘moving target’

Published

on

By

Aptera pushes SEV deliveries as it seeks additional funding, timelines remain 'moving target'

While Aptera Motors continues to push forward with its production-intent (PI), solar EV builds ahead of production plans (hopefully) next year, and its timeline for initial customer deliveries is as cloudy as ever. The SEV startup quietly updated the estimated delivery timelines for all reservation holders, giving us an idea of where it stands in terms of scaled production. However, in speaking with Aptera, a lot of these numbers (for better or worse) depend on vital funding that has yet to be secured – a common theme in the startup world.

Aptera Motors is the last of the living solar EV startups and one we’ve followed closely for several years because its unique approach to sustainable mobility has the potential to one day reimagine and elevate the entire automotive industry.

To get there is no small feat, and Aptera Motors is already on its second life in reaching the holy grail of scaled solar EV production. Through our coverage and consistent, transparent updates from Aptera Motors directly, we’ve learned just how much progress the startup has made in the last few years and, conversely, just how much further it will need to go to prove viable.

As it is with any startup, the biggest hindrance to quick development has been funding. For a long while, Aptera leaned on its loyal base of fans and reservation holders, who invested their own money for a chance at one of the first 2,000 Launch Edition solar EV deliveries. The company ended up raising an inspiring $135 million from over 17,000 investors – the most successful crowdfunded raise in history.

While that funding has helped keep Aptera going, entering pre-production body in carbon (BinC) builds ahead of production-intent testing, it will still need more money to get Launch Edition deliveries to those loyal investors and beyond. To help this need, Aptera Motors announced a partnership with US Capital Global this past July, which is helping raise an additional $60 million in capital.

However, three months in, that desired total has not been achieved. Furthermore, that round of funding is a mere stepping stone to low-volume production, and more funding will be required to scale (see graphic below). With so many unknowns surrounding future funding, Aptera has amended its estimated deliveries while it sorts out its financial future.

  • Aptera investment
  • Aptera deliveries

Aptera deliveries are limited in 2025, 2026 numbers TBD

We first caught wind of the revised timelines for SEV deliveries from the Aptera Owners’ Club Discord page. Many users who are investors in the Aptera Accelerator Program were reporting the timelines listed on their accounts have changed from the first half of 2025 to 2026.

I myself am a reservation holder but not an Accelerator, and my reservation changed from 2026 to “TBA.” However, a lucky few who invested big bucks during the crowdfunding campaign are still secured for deliveries before the end of 2025. However, following the threads on Discord and comparing those numbers to previous Aptera statements and estimates in its US Capital Global investor deck, the delivery numbers get quite jumbled.

Chris McCammon, Aptera’s Head of Content, was present on the Discord page and estimated Aptera is targeting 60 Launch Edition builds that will see deliveries to customers in 2025. That means only the top 60 Accelerators will receive their Launch Edition SEV next year. The other 1,940 Accelerators will have to wait until 2026 at the earliest.

We reached out to Aptera directly for more insight, and its team was able to confirm that 60 customer builds are the target for 2025 but that low-volume production, as well as the scaled production to follow, will rely heavily on the $60 million US Capital raise as well as further funding rounds thereafter. Per a representative for Aptera:

At this point, our primary focus is securing the necessary financing to ensure we remain on track with our production schedule. As previously mentioned, we are actively pursuing $60 million in funding, which we aim to complete in multiple transactions over the next 3-6 months. This funding is critical for advancing to low-volume production, and once secured, we expect to enter production within 9-12 months.

Chris (McCammon’s) estimate of 60 Launch Edition Accelerator deliveries in 2025 aligns with our goal for the initial low-volume production. However, the total number for the year is dependent on securing the $60 million in funding and therefore, will be a moving target.

While some reservation holders may be disheartened by the news of having to wait longer for Aptera deliveries, the latest update to reservation pages shouldn’t really come as a surprise based on what we already knew following the US Capital Global announcement. Even back in July, we warned reservation holders that 2026 would likely be the earliest they would see any substantial SEV deliveries, and that was when Aptera was predicting to build 371 units in 2025. That number is probably closer to 100 now.

There should be no cause for alarm based on the revised delivery timelines. Aptera is continuing to make progress through production intent builds and could still scale fairly quickly in 2026 and beyond. What is worrisome is that low-volume production and those scaled SEV builds in 2026 and beyond will rely on a hefty influx of funding. We asked Aptera about that progress and about its long-teased IPO. Per a representative for the company:

Looking ahead, we aim to ramp up production through 2026, though the scale of this ramp-up will largely depend on when we secure the current $60 million target. Our ultimate goal of producing 20,000 vehicles annually will require approximately $195 million in additional capital, which we plan to raise through a combination of financing strategies, including equity, debt, and potentially an IPO, as you mentioned.

Aptera Motors fights on, and we’re rooting for them, but the biggest beast to overcome in its startup saga has always been and continues to be its need for substantial funding. Completing the $60 million investment round that is currently ongoing will be a major milestone, but the approximate $195 million required after that to deliver more than 60-ish targeted SEV deliveries shows just how much of an uphill battle Aptera continues to face in scaling its technology.

Hopefully, it can harness all that sun’s power and reach the promised land for the sake of the environment and cool-ass EVs. As always, you can reserve an Aptera for only $70; you just may be waiting a while for a delivery.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Rivian halloween surprise update goes Back to the Future, Knight Rider, more

Published

on

By

Rivian halloween surprise update goes Back to the Future, Knight Rider, more

Today, Rivian is pushing a software update to its vehicles and Android and iOS apps that includes some fixes, features, and perhaps most notably, some neat Halloween surprises.

Rivian is no stranger to Halloween hijinx, having released software spookiness in both 2022 and 2023.

2024’s version might be the biggest yet with an homage to the original autopilot automobile, KITT from Knight Rider. David Hasselhoff even did a cameo for the company, below.

Also, there’s a Back to the Future mode complete with music score and flux capacitor. Finally a ‘scary yeti’ spooky mode with interior lighting rounds out the options.

Along with the new modes, which are just videos displayed on the screens and not actual overlays on the actual driving displays, there are some new lighting options that will conjure up Halloween vibes. There’s a spooky camp mode, gear guard and more.

While the new tricks are a fun distraction, Rivian finds itself in a precarious situation, as it needs to turn a profit on its automobile manufacturing. The stock has slid from close to 20 this summer down around 10 as of this writing because of delays in delivering vehicles. That said, we’ll always appreciate the fun sense of adventure that these software exercises bring, which also enhances the brand.

Rivian Software update 2024.39 also contains the following:

Driver Display Improvements

We improved the appearance and usability of the driver display.

  • Added a new navigation maneuver panel in the top left.
  • Consolidated most of the driver notifications to the left side, and added new animations.
  • Improved the volume, headlight, and wiper notifications.
  • Improved the energy graph and Tire Pressure Monitoring System (TPMS) carousel panels.
  • Added a new phone and media panel to the carousel.

Automatic Front Camera in Park Assist

When Park Assist engages, the front camera view now automatically appears on the center display. This helps you to navigate tight parking spaces more confidently without taking your hands off the wheel. The setting is enabled by default. Go to Settings > Driver Assistance > Automatic Parking Camera to disable it.

TIDAL with Dolby Atmos

TIDAL now includes Dolby Atmos!

Additional Improvements

  • Vehicle sleep behavior
    • When the driver and passengers exit the vehicle, the vehicle now starts to sleep within 5 seconds even if an unoccupied passenger seat belt is still fastened.
    • When the driver and front passenger exit the vehicle, and close the doors but don’t lock them, the vehicle now starts to sleep within 5 seconds.
    • When the vehicle starts to sleep, tap on the center or rear display within 1 minute to wake it back up.
  • Audio
    • Fixed an issue that prevented mono streams from playing.
    • Fixed issues that caused momentary interruptions during playback.
    • In Spotify, fixed an issue that caused audio to sound muffed in certain tracks.
    • Fixed an issue that duplicated channel 1 of an audio track on all other channels, affecting the listening experience, particularly in multichannel (Dolby Atmos) content.
  • Apple Music
    • Improved the general stability of the app.
    • Improved audio playback resume behavior when you return to the vehicle.
    • Improved the handling of songs loading under low network conditions.
    • Fixed an issue that caused audio to sound muffled in certain tracks.
  • Francis Energy DC fast charging (DCFC) stations now appear in the Navigation app maps.
  • Updated the Wipers menu by moving Off to the bottom. Holding the switch down now jumps the selector to Off instead of Auto, and turns off the wipers.
  • Fixed an issue that caused a High Beam Assist unavailable notification to appear when the vehicle woke from sleep.
  • Added a notification that provides more information on the engagement of the rear drive system in auto-AWD (All-Wheel Drive).
  • Added a notification in the Rivian mobile app 2.15.0 or later to inform you if an outstanding balance is preventing plugging and charging the vehicle.
  • Fixed an issue that caused the loss of GPS during a Navigation software update.
  • Fixed an issue that prevented automated garage door prompt from appearing on the driver display.
  • Gear Guard Live Cam
    • Improved the session start reliability.
    • Improved the streaming reliability, and with the Rivian mobile app 2.15.0 or later, the stream now defaults to the last camera selected.
  • Fixed a USB and SSD stability issue in Drive Cam and Motion Cam.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Trending