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 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 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 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 (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.
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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Ride1Up has carved out a name for itself in the e-bike world by delivering sleek, well-equipped electric bikes that punch well above their price tag. Their latest model, the Ride1Up Vorsa, takes that formula and beefs it up into something more versatile… literally.
The Vorsa is Ride1Up’s answer to the growing demand for SUV-style e-bikes – those do-it-all electric rides that can handle your commute, your grocery runs, your kid-hauling trailer, and your backroad detours without flinching. And at $1,595, the Vorsa might just be the most affordable ticket into that category right now – at least for an e-bike that still includes a pile of interesting and high-value tech features.
To see what I mean, check out my video review of the Ride1Up Vorsa below. Then keep reading for the full details on this highly versatile ride.
Ride1Up Vorsa video review
Ride1Up Vorsa Tech Specs
Motor: 750W and 95Nm rear hub motor
Top speed: 28 mph (45 km/h) on pedal assist or 20 mph (32 km/h) on throttle
Range: 30-60 miles (48-96 km)
Battery: 48V 15Ah (720Wh) UL-certified with Samsung 50GB cells
Weight: 65 lb (29.5 kg)
Load Capacity: 440 lb (200 kg)
Frame: Aluminum alloy 6061
Brakes: Star Union hydraulic dual-piston disc brakes on 203 mm (front) and 180 mm (rear) rotors
Extras: Shimano Acera 8-speed derailleur, new highly-detailed color LCD display, two frame styles of step-over and step-thru, semi-integrated rear rack with optional rack extender, and a wide range of other accessories
E-bikes are getting more versatile, but the Vorsa takes versatility to the extreme.
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This is already a powerful e-bike capable of 28+ mph Class 3 speeds (though ships out of the box with a Class 2 setting of 20 mph) from its 750W motor capable of a heart-thumping 95 Nm of torque. That means its a fast hill climber and ready for just about any challenge that a high-performance e-bike should be.
But then, on top of that, the bike’s design allows it to tackle very different styles of riding, from cargo needs with its semi-integrated rear rack to touring and trekking style rides with its 27.5×2.6″ Schwalbe touring tires.
That means the same e-bike you use to take the kids to school at in the morning can transform into your commuter bike to work and then into your single-track bike for weekend recreational riding.
And with a 720 Wh battery (UL-compliant, no less), you’ll have plenty of charge to do all of those things in the same day!
It’s par for the course at Ride1Up, something I learned when touring their factory last year and seeing firsthand just how important a combination of quality, practicality, and affordability are to the company. It’s obvious that the folks at Ride1Up want to give us riders as much battery, as much performance, and as much versatility as they can while keeping the price reasonable.
Packed with tech, but only the good stuff
It’s fun to see more tech enter the e-bike space, but some companies don’t seem to understand that more isn’t always better. It’s only a net benefit to me if it’s stuff I’ll actually use. Ride1Up has eschewed smartphone apps and other things that don’t add much usability and has now given us the stuff that actually matters.
For example, the new display on the Vorsa is much more involved, with more than just a higher-resolution color display. It shows metrics that actually mean something to me, like how much time I spend in different riding modes. This helped remind me to not only use the highest power modes but also drop the pedal assist down a few notches for more exercise.
There’s also built-in Apple FindMy tracking now, which is a HUGE added value for me. It’s not a guarantee that you’ll get your bike back if it’s stolen, but it’s a major headstart in recovering it. It may not be as helpful for you Android phone users out there, but for us iPhone folks who are held captive by Apple’s golden handcuffs, it’s a great system for finding just about anything, especially your e-bike. From my phone, I can see where my Vorsa is, and I can find it if someone tries to abscond with it.
Then there’s the new torque sensor from MiVice, which is honestly one of the most responsive torque sensors I’ve ever had the pleasure of pedaling. It’s fast, and it feels like my legs are just extra strong that day. Throttle-only riders won’t really benefit from it, and in fact may want to use the sensor selector option to put the bike back in cadence sensor mode to enable more of a ‘foot throttle’ feel, but most of us will prefer the torque sensor because of how impressively dialed in it feels.
Hardware design
That technology is nice, but it needs to complement good hardware, not replace it. In this case, the design of the Ride1Up Vorsa complements the tech, adding versatility and value without jacking up the price.
The semi-integrated rack is a really cool design that helps the bike achieve its 440-lb weight capacity. There’s even a rack extender that helps turn the bike into a longtail cargo bike, even if that tail sticks out in a slightly funny way.
Then there are the other nice upgrades over the usual suspects we see on $1,500-range electric bikes. Instead of plastic fenders, we get nice metal alloy fenders that look and feel better quality. Instead of a cheap 7-speed Shimano Altus derailleur, we get a nicer 8-speed Shimano Acera derailleur. Instead of a basic suspension fork, we get a longer travel 100mm fork. Instead of a compliance stem, we get an adjustable stem to dial in the handlebar angle to our liking. You name it, the upgrades are there.
The LED lighting, including the fender integrated lights, is also clearly higher quality than you’d expect on a value e-bike, making this an even higher value.
What’s not to like?
Don’t get me wrong, the Ride1Up Vorsa is great. It sets a new high watermark in what can be delivered at this price, especially considering the rampant inflation in e-bike prices brought on by new tariffs. But I can always complain about something, and so why stop now?
The Ride1Up Vorsa brings us a lot of cool tech and new hardware, but it comes at a cost, and that cost is weight. At 65-70 lb, depending on how many of the cool add-ons you install, the bike isn’t lightweight. You’ve got chunkier tires, a bigger battery, a more powerful motor, a more robust frame, a larger fork, metal fenders, and other parts that all add to the weight.
Next, Ride1Up has again played it incredibly conservatively with the color options. Your typical dark gray is there, then you get a fairly nice blue, and lastly, you’ve got a slightly confusing two-tone sage grayish-green option. There are no bright colors to choose from, which isn’t a departure for Ride1Up, but still a bit disappointing to me. Go wild, guys! Throw caution to the wind! Hit me with some color someday!
And lastly, Ride1Up continues to ship in smaller boxes that require the fork to be installed by the owner. This isn’t a complicated task when you’ve done it 100 times like it’s your job, which it is for me. But most people have done this zero times, and the ones who have can probably count the instances on one hand. This is an essential step in bike assembly and one that has very little margin for error, so most new owners would be advised to have a bike shop do it if they aren’t comfortable following Ride1Up’s clear and welcomed assembly video.
So I have my complaints like normal, but none are insurmountable. And to be honest, at $1,595, the price is so fair that I can overlook the limited color options and the longer at-home assembly. When it comes to the weight, that’s just the price we riders pay to have more performance and features included in our bikes.
I absolutely recommend the Ride1Up Vorsa to anyone looking for a ‘normal’ style e-bike (i.e., not a folder or a moped) but who wants the versatility to head in highly divergent directions, including everything from cargo hauling to recreational riding and daily commuting. It’s a winner and they stuck the landing on the Vorsa.
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Ford is sweetening the deal for EV buyers in the UK with free home chargers and more, just as its best-selling car, the Puma, gets an electric upgrade. The new incentives are part of Ford’s push to boost EV sales and gain market share overseas.
Ford is giving free EV chargers to buyers in the UK
The “Ford Power Promise” was initially launched in the US last October. It includes a free Level 2 home charger with any Ford EV purchase, including the Mustang Mach-E and F-150 Lightning.
Ford will also cover the cost of standard installation, along with some other goodies to sweeten the deal, like 24/7 live EV support, roadside assistance, and an 8-year, 100,000-battery warranty.
The American automaker is now extending the offer as it looks to win back market share overseas. On Tuesday, Ford launched the Power Promise in the UK to help make owning an EV easier.
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Ford’s promo includes a free wall box home charger (with standard installation), an up to 10,000-mile home energy bonus, and an 8-year and 100,000-mile battery warranty.
Other incentives include a free five-year service plan, free five-year towing assistance, and access to over 33,000 public charging stations across the UK through Ford’s Blue Oval Charge Network.
Ford electric Puma Gen-E (Source: Ford)
Saving time and money
The offer is available across Ford’s EV lineup, including the new electric Puma Gen-E. Ford’s electric car lineup in the UK includes the Explorer Electric, Mustang Mach-E, Capri EV, E-Tourneo Custom, E-Tourneo Courier, and the new electric Puma. If you already have a home charger, you can opt for a £500 ($650) cash bonus.
Ford’s electric vehicles in Europe from left to right: Puma Gen-E, Explorer, Capri, and Mustang Mach-E (Source: Ford)
Ford EV buyers will also benefit from its partnership with Octopus Energy, the UK’s largest energy supplier. Using “Intelligent Octopus Go,” you can save up to 70% on energy costs by charging overnight (7p/kWh).
According to Ford, charging the new electric Puma Gen-E can cost as little as £3.23, or less than $5. Ford launched the Puma Gen-E, the EV version of its best-selling car in Europe, starting at just €36,900 ($38,800) in December. In the UK, the Puma Gen-E Select starts at £30,795 ($39,300).
(Source: Ford)
Since launching the program, Ford has extended the offer to Canada. In the US (and Canada), Ford’s Power Promise runs until June 30, 2025.
According to Ford’s research, the 2025 Mustang Mach-E eAWD extended-range battery can save $26 compared to filling up a gas tank. The 2025 Ford F-150 Lightning Lariat could save you up to $55 compared to a similar pickup.
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The US solar industry is used to tariffs, but President Trump’s latest round of tariffs is still expected to wreak havoc, like in many other sectors.
But homeowners still have time to go solar, thanks to developers building solar panel stockpiles in the US.
During his first term, President Trump imposed many tariffs that affected the US solar industry.
Since then, the industry has adapted with some domestic solar module manufacturing, but most solar products still come from overseas. Chinese manufacturers moved some of their factories to other Asian countries to adapt, but now Trump’s sweeping tariffs also target those countries, like Vietnam.
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But solar developers, who have experience with tariffs, have been savvy enough to build stockpiles of solar panels in the US over the last year.
Some estimates put the current stockpile at 50 gigawatts, which is roughly what the US deployed last year. However, 50 GW does not include all the solar energy deployed in the US last year, residential, commercial, and utility-scale, and most of the stockpile is estimated to be equipment for rooftop solar.
Tariffs coming into effect tomorrow will certainly impact the industry, but the stockpiles are likely to reduce the impact and give homeowners more time to go solar this year without price increases or with smaller price increases.
The timing is good as US homeowners are increasingly turning to solar to reduce their energy costs, which are also expected to increase.
The trade wars started by Trump are increasing the electricity rates in states that get electricity from Canada.
The President is also expected to sign a new executive order boosting the nation’s coal industry this week. The order is expected to involve reductions in environmental requirements to help save coal plants due for retirement.
However, most coal plants are being retired because they are uncompetitive, not because of environmental concerns.
In addition to tariffs on solar panels and inverters imported from overseas, the new tariffs are expected to greatly increase the cost of home energy storage, which is often installed with rooftop solar power systems.
If you are interested in going solar, now is the time, and we suggest using EnergySage. It’s a free service that will enable you to get quotes and compare them without any hassle, and you only talk to someone when you are ready to move forwardwith your project.They work with a great number of solar installers and help you get the best price.
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