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If you ask Lucid (Lucid) CEO Peter Rawlinson, the company is the “most immune” EV maker if President-elect Donald Trump cuts the federal tax credit for electric cars. Despite the claim, Lucid’s stock is hitting a new all-time low at under $2 a share.

Is Lucid immune to losing the EV tax credit?

Lucid is coming off its third straight record quarter of deliveries. With another 2,781 vehicles sold in Q3, Lucid’s delivery total reached 7,142 through the first nine months of 2024, already topping the 6,001 deliveries in 2023.

However, share prices are sinking following a Reuters report on Thursday that Trump’s transition team is “planning to kill” the federal EV tax credit, which provides up to $7,500 for clean car buyers.

The report also cited two sources claiming that representatives from Tesla (TSLA) told Trump’s team that they supported the plans to end the subsidy.

CEO Elon Musk, who fully endorsed Trump, said losing the credit could slightly impact Tesla’s sales but would be “devastating” to others in the US.

Although its luxury Air sedan, starting at $69,900, doesn’t qualify for the $7,500 credit, Lucid is passing it on to some through leasing. However, Rawlinson said many of its clients make more than the $150,000 for single filers and $300,000 threshold for couples filing jointly.

Lucid-EV-tax-credit
Lucid Air (Source: Lucid)

Because of that, even if Trump cuts the EV tax credit, Lucid’s CEO believes it’s in a stronger position than most of the competition.

When asked about Trump’s plans, Rawlinson said on Bloomberg Television on Friday that “Lucid, amongst all the EV makers, is really the most immune from that.”

Lucid’s CEO also said he isn’t worried about Musk getting favorable treatment when Trump takes office. Rawlinson explained:

We’ve really taken the mantle of technology leadership from Tesla right now, and this is not really sufficiently recognized. So, I think we’re in a very strong position to weather any such storm.

Lucid opened orders for its first electric SUV earlier this month. Starting at $79,800, the Lucid Gravity is expected to get an impressive range of 440 miles per charge.

Lucid-EV-tax-credit
Lucid Gravity SUV (Source: Lucid)

Rawlinson calls the Gravity a “landmark product” with its most advanced technology yet, which he claims is “years ahead of the competition.” Last month, we got our first look at its lower-priced midsize electric SUV. Prices for the new model will start at under $50,000.

Lucid-midsize-SUV
Lucid midsize electric SUV teaser image (Source: Lucid)

It will be the first of at least three midsize Lucid EVs, with production expected to begin in late 2026. Rawlinson said the midsize models are aimed “right in the heart of Tesla Model 3, Model Y territory.”

Lucid-EV-tax-credit
Lucid (LCID) stock chart (Source: TradingView)

Despite the confidence, Lucid’s stock hit its lowest price on Friday since going public in July 2021. Lucid shares are down nearly 17% this week, sitting at under $2 per share.

Electrek’s Take

Ending the federal tax credit will put the entire US auto industry behind. China continues to gain more global market share as leaders like BYD expand into key overseas markets like Europe, Southeast Asia, and Central and South America.

In fact, according to Bloomberg, BYD is quickly closing in on Ford in global deliveries and could even top the American automaker by the end of 2024.

BYD-Ford-deliveries
Ford and BYD global sales since 2010 (Source: Bloomberg)

BYD’s surging global presence is primarily due to its early beginnings as a battery maker. However, China’s government is also fueling EV sales growth with subsidies for those that trade in gas-powered vehicles.

According to Rho Motion, China continues dominating the global market with a record 1.2 million EVs sold in October alone. China has now sold 8.4 million EVs in 2024, up 38% year-over-year (YOY), compared to 1.4 million in the US (+9% YOY).

Rawlinson may be right. Lucid could be one of the most immune if the tax credits were cut. However, other US automakers, like Ford, GM, and Jeep-maker Stellantis, may not be as lucky.

So, what happens if the subsidies are killed off? American automakers will likely delay or cancel more EV initiatives (new models, battery plants, manufacturing facilities), which will send them further behind in the global market.

Ford’s CEO Jim Farley warned rivals earlier this year, saying if they cannot keep up with the Chinese, “then 20% to 30% of your revenue is at risk.” He added, “As the CEO of a company that had trouble competing with the Japanese and the South Koreans, we have to fix this problem.” Ending subsidies would only put them further behind.

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Podcast: Trump moves to kill $7,500 tax credit, deep Tesla discounts, Cadillac Vistiq, and more

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November 15, 2024

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Podcast: Trump moves to kill ,500 tax credit, deep Tesla discounts, Cadillac Vistiq, and more

electrek podcast

In the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss Trump moving to kill the $7,500 tax credit, deep Tesla and Ford discounts, the new Cadillac Vistiq, and more.

Today’s episode is sponsored by LiTime, a prominent brand with 15 years of experience in renewable energy storage, specifically focusing on renewable LiFePO4 Lithium batteries. Now through December 15, LiTime is offering up to 60% off its products during its Black Friday Sale.
Learn more here.

The show is live every Friday at 4 p.m. ET on Electrek’s YouTube channel.

As a reminder, we’ll have an accompanying post, like this one, on the site with an embedded link to the live stream. Head to the YouTube channel to get your questions and comments in.

After the show ends at around 5 p.m. ET, the video will be archived on YouTube and the audio on all your favorite podcast apps:

We now have a Patreon if you want to help us avoid more ads and invest more in our content. We have some awesome gifts for our Patreons and more coming.

Here are a few of the articles that we will discuss during the podcast:

Here’s the live stream for today’s episode starting at 4:00 p.m. ET (or the video after 5 p.m. ET):

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Environment

This 3GW Gobi Desert solar farm can power 2 million households

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November 15, 2024

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This 3GW Gobi Desert solar farm can power 2 million households

Gobi Desert solar farm

China just connected its largest single-capacity solar farm built on a former coal mining area, which is in the Gobi Desert, to the grid.

The Mengxi Blue Ocean Photovoltaic Power Station, located in Otog Front Banner, Ordos, Inner Mongolia, came online on November 5. With a massive installed capacity of 3 gigawatts (GW) and over 5.9 million solar panels, the plant will generate around 5.7 billion kilowatt-hours of electricity annually – enough to power 2 million households.

This huge project will save about 1.71 million tons of standard coal each year and cut carbon dioxide emissions by roughly 4.7 million tons, which is equivalent to planting 62,700 hectares (around 155,000 acres) of trees.

Built on coal mining subsidence land, Mengxi Blue Ocean is part of China’s national West-East Electricity Transfer Project, which brings investment and development to western China west while supplying the growing need for electricity in the eastern provinces.

The solar farm includes the country’s first large-scale outdoor solar testing base in the Gobi Desert climate, demonstrating the potential for large solar installations in challenging environments.

The power station makes use of new rare earth alloy grounding materials, cutting costs by 40%. It also replaces traditional concrete foundations with steel to minimize impact on the local grassland ecosystem.

Chuang Xihong, deputy director of the Engineering Construction Department of Guodian Power Group, CHN Energy’s parent company, explained that Mengxi Blue Ocean is an agrivoltaic project as well [via PV Tech]:

Fine forage and sand-fixing plants are planted under the PV modules, providing grazing for Australian White Sheep and chickens. A composite ecological development model will be established where PV power generation and breeding will go hand in hand.

Read more: China powers up the world’s largest open-sea offshore solar farm

If you live in an area that has frequent natural disaster events, and are interested in making your home more resilient to power outages, consider going solar and adding a battery storage system. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and share your phone number with them.

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get started here. –trusted affiliate link*

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Environment

Save exclusive $1,568 on EcoFlow DELTA Pro Ultra, Velotric Black Friday e-bike additions, Anker SOLIX + Heybike flash sales, more

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November 15, 2024

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Save exclusive ,568 on EcoFlow DELTA Pro Ultra, Velotric Black Friday e-bike additions, Anker SOLIX + Heybike flash sales, more

It should be no surprise that we’re closing out the week with another great lineup of Black Friday Green Deals. Leading the official sales is the exclusive discount our readers are getting on the EcoFlow DELTA Pro Ultra Home-Backup Station at a new $4,230 low. Coming up right behind it we have Velotric’s early Black Friday changeup that is adding two more e-bikes to the savings event while also offering an “add three, get 30% off” promotion for accessories – all starting at $1,099. We’ve also got two weekend flash sales, the first being several Anker SOLIX solar generator and home-backup bundles at new low prices and starting from $1,399. The other is a second chance at Heybike’s Ranger S Folding e-bike for $999, as well as some price reductions. Plus, all the other hangover Green Deals are in the links at the bottom of the page, like yesterday’s long-awaited Rad Power Black Friday sale that has increased savings up to $700 on new and old e-bikes alike, 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.

Save a 9to5Toys-exclusive $1,568 on EcoFlow’s DELTA Pro Ultra whole-home backup station at new $4,230 low

Wellbots is giving 9to5Toys readers an exclusive chance at savings on EcoFlow’s DELTA Pro Ultra Whole-Home Backup Station for $4,230.59 shipped, after using the promo code 9TO5DPU9 at checkout for an additional 9% off. Normally priced at $5,799 here, with a higher $6,098 MSRP direct from EcoFlow, this unit has never seen discounts this large, with the brand’s current Black Friday sale offering what we considered the best price of the year at $4,649, until today. Taking advantage of this exclusive offer gives you a total of $1,568 off its going rate at Wellbots ($1,867 under its original MSRP) and lands it at the best price we have tracked to date.

EcoFlow’s DELTA Pro Ultra is the hands-down best option from the brand for backup power of your entire home, providing a starting 6.1kWh LiFePO4 battery capacity and 7,200W power output that can be invested in and further expanded up to a massive 90kWh capacity and 21.6kW output. For context, the station alone can keep your essentials running for two days on one full battery and up to 15 days with its fully expanded capabilities – and that’s not even factoring in any solar panel setup you have for it that recharges and replenishes its battery. Aside from just supporting you through blackouts with the auto-switchover, it will analyze your regular power usage to offset peak rates while utilizing solar charging to help lower your energy costs (requires Smart Home Panel 2, sold separately).

There are multiple ways to recharge the Ecoflow DELTA Pro Ultra’s battery outside the expandable 5.6kW to 16.8kW solar input, with a wall outlet able to recharge the battery in just two hours, with other options including EV piles and generators too. As an example, in terms of its solar charging capabilities, if you were to invest in a fully stocked and expanded system (three Ultra Pro stations + expansion batteries), a single hour of solar charging would give you the power needed to run your home for the entire day. It can handle severe temperatures of -4 degrees to 113 degrees and even comes with an IP54 dust-proof and splash-proof rating.

Velotric Go 1 Utility e-bike

Velotric adds two e-bikes to early Black Friday + 30% discounts on three accessories – deals start from $1,099

Velotric is switching its early Black Friday sale into its second gear through November 28, including two more e-bikes to the sales lineup and offering an “add three save 30%” promo on accessories. Aside from those we already saw at the start of the month, the brand includes the Go 1 Utility e-bike for $1,299 shipped and the Packer 1 Cargo e-bike for $1,599 shipped. Normally these models go for $1,699 and $2,199, respectively, we’ve seen most sales drop costs down to $1,399 and $1,699 for most of 2024, though there was one August flash sale that lowered the prices by $50 more and we have also seen the Go 1 Utility e-bike as low as $1,099 in past years back in the pre-tariff marketplace. Still, you’re looking at some of the lowest prices tracked, giving you some solid affordability on reliable e-mobility solutions.

Velotric’s Go 1 Utility e-bike cruises into view at a 20 MPH top speed that you can unlock up to 25 MPH, with the 500W hub motor peaking at 900W and powered by the removable 692Wh battery, which also provides a solid 55 miles of travel on one full charge. There are five pedal assistance models here, and a bunch of great features for the price – especially the inclusion of Apple Find My alongside the usual smartphone app integration. You’ll also enjoy stocked puncture-resistant tires, a removable thumb throttle, a 7-speed Shimano derailleur, an integrated LED headlight, a rear rack that has an integrated taillight with brake lighting, and a 3.5-inch LCD display with a USB port.

With the Packer 1 Cargo e-bike, you’ll be able to haul up to 176 pounds of packages, passengers, both, and more at top speeds of 20 MPH (which also unlocks to 25 MPH) for up to 52 pedal-assisted miles thanks to the pairing of its 750W rear-geared hub motor (peaks at 1,200W) and the removable 692Wh battery. Using just the throttle for pure electric action can surprisingly net you up to 45 miles of travel. Among its features you’ll find Apple Find My and smartphone app integrations, 4-piston hydraulic disc brakes, a hydraulic suspension fork, an 8-speed Shimano derailleur, fenders over its 26-inch front/20-inch rear tires, an LED headlight, a taillight with braking functionality, and an LED display.

Updated early Black Friday e-bike discounts:

Anker SOLIX weekend sale

Anker SOLIX flash sale takes $3,028 off F3800 station with expansion battery and 400W panel at new $4,369 low

Anker SOLIX has launched its second weekend flash sale through November 17 that is offering some new and continued savings on a selection of solar generator and home backup bundles, as well as some new additional savings promotions. The spotlight this time around is on the F3800 Portable Power Station that comes with a BP3800 expansion battery and 400W solar panel for $4,369.05 shipped, after using the promo code ANKER4K5OFF for an additional 5% discount. This bundle would normally cost you $7,397, and we’ve only seen this bundle get discounts a few times throughout 2024, with the biggest of them taking the price down to $4,899. During the next 72 hours, you’ll be able to save $3,028 here and scoring this solar generator package at the all-time lowest price we have tracked.

Before we go over what you can expect from this package, Anker SOLIX has provided additional savings on orders that reach certain thresholds through December 8 on top of the free gear offers that have been live since the sale’s start. As a recap, you’ll be getting a free 200W solar panel when you spend over $3,000, a free EverFrost Portable Cooler 40 when spending over $4,000, and a free 400W solar panel on orders over $5,000. On top of these offers, be sure to take note of the following bonus savings options:

  • Save an additional 3% off your order over $3,000 with the code ANKER3K3OFF
  • Save an additional 5% off on orders over $4,000 with the code ANKER4K5OFF
  • Save an additional 7% on orders over $5,000 using the code ANKER5K7OFF

Just be sure to enter these codes at checkout. The listed prices below have not had these additional savings factored in.

The SOLIX F3800 is a versatile backup power option that starts with a 3,840Wh LiFePO4 capacity (doubled to 7,680Wh with the expansion battery) that you can further expand up to 26.9kWh with five more BP3800 expansion batteries. Through its 15 ouput ports it can deliver up to 6,000W of power and even has connections for your RV, electric car, and your home’s circuit breaker (though it requires the Home Backup kit for sectional power or the Home Power Panel for your entire home + integration with with your solar roof panels for greater recharging capabilities).

There are a few different ways to recharge the F3800’s battery, but the two main ways will give you a full battery in only 2.7 hours through a standard outlet, or up to 2 hours when utilizing its maximum 2,400W solar input. Everything is housed within a rollable design, with an LCD display to monitor real-time levels as well as adjust settings – or you can do all this on your phone via the companion app.

Anker SOLIX early Black Friday weekend flash sale offers:

You can check out the full lineup of Black Friday offers by following the link here – and be sure to use those promo codes above for the best savings!

heybike ranger S weekend sale

Heybike offers second chance to get Ranger S Folding e-bike at $999 low in latest early Black Friday flash sale

Heybike is giving folks another Black Friday flash sale and a second chance at the best price we’ve seen on its Ranger S Folding e-bike at $999 shipped through the weekend, while also lowering the price on the Brawn Off-Road e-bike by another $100. The Ranger S model usually goes for $1,499 at full price, with most discounts only taking costs down to $1,199 at best before these Black Friday weekend flash sales. You’re looking at a second chance to score $500 off its going rate at the all-time lowest price we have seen for it – and it also comes with the Black Friday gift pack too. You can learn more about this e-bike’s standard model in our review, with both variations being discussed below, as well.

Heybike’s Ranger S e-bike offers some solid performance specs and features at an affordable low price. Starting off, you have a choice here between a 750W (peaks at 1,400W) or a 1,000W (peaking at 1,800W) rear hub motor, depending on just how much power you require for speed, overcoming terrain, and the like. Keep in mind that the 1,000W model does charge a higher $1,399 price (down from $1,699). Both options come powered by a 692Wh battery, with five pedal assistance levels to utilize – supported by a cadence sensor for the 750W model and a superior torque sensor for the 1,000W model. You’ll enjoy 55 miles of travel and Class 3 top speeds of 28 MPH from the 750W motor while the 1,000W motor bumps that maximum to 32 MPH.

Aside from that, there’s a whole bunch of tried and true features you would typically expect from a folding fat-tire e-bike, like the 20-inch by 4-inch fat tires with fenders over each, the step-through frame that also folds, obviously, as well as an LED Headlight, an integrated rear cargo rack with an LED taillight that provides brake lighting, a hydraulic front suspension fork, hydraulic disc brakes, a kickstand, and a smart LCD display. Its charger has also been bumped up to a 4A model, which is around twice as strong as the average e-bike charger, so you can expect a full charge in about 4 hours.

Other Heybike discounts:

  • Mars 2.0 Folding Fat-Tire e-bike: $999 (Reg. $1,499)
    • 28 MPH for up to 45 miles
    • 1,000W motor (32 MPH speed) costs $100 more
    • comes with free front basket and large basket + gift pack
  • Cityrun Urban Commuter e-bike: $999 (Reg. $1,599)
    • 21 MPH for up to 55 miles
    • comes with free large basket + gift pack
  • Hauler Cargo e-bike (new model): $1,399 (Reg. $1,899)
    • 28 MPH for either 55
    • Dual-battery (85-mile range) costs $300 more
    • comes with free large rear basket + gift pack
  • Brawn Off-Road e-bike: $1,399 (Reg. $1,799)
    • 28 MPH for 65 miles
    • comes with free large basket + gift pack
  • Horizon Full-Suspension e-bike: $1,499 (Reg. $1,999)
    • 28 MPH for 55 miles
    • comes with free front basket and large basket + gift pack
  • Tyson Uni-Body e-bike: $1,499 (Reg. $1,699)
    • 28 MPH for 55 miles
    • comes with free large basket + gift pack
  • Hero Carbon-Fiber All-Terrain e-bike (new model): $2,499 (Reg. $2,599)
    • 35 MPH for 60 miles
    • comes with free large basket + gift pack

Best Black Friday e-bike deals!

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.

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