Lucid (LCID) has no plans to launch a $20,000 EV, but it could help create one
That $20,000 luxury Lucid EV you’ve been waiting for will likely never hit the market. CEO Peter Rawlinson said Lucid (LCID) has no plans to launch a $20K vehicle. However, it could play a role in bringing cheaper EVs to market.
After its third straight quarter of record deliveries in Q3, Lucid is gaining traction. The EV maker is now outselling its German luxury rivals in the US, including the Porsche Taycan and Mercedes EQS.
Lucid’s Air even outsold the Tesla Model S in the third quarter. According to Kelley Blue Book, Lucid sold 1,944 Air models in Q3, up 33% from last year, while Tesla Model S sales slipped 47% to 1,669.
The company’s growing sales come despite many media headlines claiming that EV sales are slowing or cooling.
On The Wall Street Journal’s recent Bold Names podcast, Rawlinson said there is a “false narrative” that EVs are in decline. Sales are still up, Rawlinson explained, but they may not be climbing as fast as some had predicted.
Lucid’s CEO is not surprised by some legacy automakers’ “lame efforts.” According to Rawlinson, the company was established for a different reason. Lucid exists “to advance the state of the art of EVs,” the company’s CEO said on the podcast.
Is Lucid launching a $20K EV?
In 2021, Lucid launched the first EV with over 500 miles range. To this day, “There’s no competitor within 100 miles of that car,” according to Rawlinson.
Lucid is focused on efficiency or enabling more range with fewer batteries. To promote widespread adoption, Rawlinson said we must hit the core issue: the cost of batteries as a function of their size.
To get there, Lucid had to start with a high-end premium product, its luxury Air sedan. The company’s leader said Lucid exists to advance “the state of the electric car” with its advanced tech. In other words, it is about driving down costs while unlocking more driving range with smaller, more efficient technology.
So does this mean we will eventually see a $20,000 Lucid EV hit the market? It’s still not likely. According to Rawlinson, Lucid has no plans to build a $20K EV because “that market sucks.”
Lucid’s CEO pointed to Porsche, one of the most profitable legacy automakers, saying, “It doesn’t operate in that sphere.”
Meanwhile, Rawlinson explained that Lucid is “commercially viable in the future.” He believes that is where Lucid could have an opportunity to license its tech.
Enabling cheaper EVs
Regarding a $20K or $25K EV, the company’s advanced tech will “enable that tomorrow,” Rawlinson said, but it will not be a Lucid vehicle. When asked, “Are you going to build that $20,000 vehicle?” Lucid’s CEO responded, “No, because that market sucks.”
The mass market segment has “terrible low margins,” and that’s not where the company is trying to compete.
Rawlinson said other OEMs already have the manufacturing network and could put such a vehicle in place.
The premium EV maker plans to launch several lower-cost vehicles on its upcoming midsize platform, but they will still be around $50,000. Lucid’s midsize SUV, which is due out in 2026, will be “priced around 48 to $50,000,” Rawlinson confirmed.
That’s the price range Lucid wants to do business in, but licensing its tech will enable others to make more affordable products.
Rawlinson said when the new midsize model model launches, “we become a Tesla competitor, head-to-head.” Lucid’s CEO said he believes the upcoming EV will be “massively better than a Tesla Model Y.” He added:
Because of our technological advantage, we should be able to make that car with its competitive range, but with less batteries than anyone else.
According to Rawlinson, doing so will not only save resources but also “allow a better gross margin per vehicle than anyone else.”
That is the game plan, the “chess game” Lucid is playing. Although the media portrays Lucid as a Tesla competitor now, the company is actually targeting Mercedes and Porsche. In a few years, it will challenge Tesla head-to-head with its midsize SUV.
Before that, Lucid is launching its first electric SUV, the Gravity. It has already begun taking orders for the higher-end $94,000 model, which is scheduled to enter production later this year. A more affordable $80,000 version is planned for late 2025.
After securing another $1.75 billion through a recent capital raise, Lucid said it has enough funding for “well into 2026,” right in time for the midsize model.
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Starting with the 2026 Cadillac Optiq, all future GM EVs will have a built-in NACS port, including the new Chevy Bolt. In the meantime, GM introduced several new charging adapters for current Chevy, Cadillac, and GMC EV owners.
GM launches new NACS adapters for EVs
You know how the iPhone seems to get a new plug every year? GM compared the transition to NACS to the evolution of USB-C in smartphones and laptops and the HDMI standard for TVs.
With a similar movement with EV charging transitioning to the NACS standard, GM aims to make the transition as seamless as possible.
Starting with the 2026 Optiq, Cadillac’s new entry-level electric SUV, all future GM EVs will be equipped with an NACS charge point as standard. And yes, that does include the upcoming 2027 Chevy Bolt EV, which is expected to make its official debut by the end of the year.
The company introduced four new chargers this week to “help ensure that every customer can navigate this transition,” including NACS-to-CSS, CSS-to-NACS, and several others.
GM’s new adapters are mainly designed to help drivers access Tesla’s Supercharger Network. However, the company is also offering an adapter for NACS-equipped EVs to connect to its Level 2 PowerShift home charger. Another adapter for NACS-equipped models enables vehicle-to-home (V2H) capabilities.
The new adapters are in addition to the NACS DC Adapter that GM began selling last year, so drivers could use Tesla Superchargers.
To help you understand which adapter you need, GM has created a helpful graphic. Although it may seem like a lot, the new adapters are really just designed to help current owners get the best charging experience while GM works to add native NACS ports to all its upcoming EVs.
With over 46,000 electric vehicles sold in the second quarter, GM is starting to chip away at Tesla’s dominant lead in the US. Thanks to the new Equinox EV, or “America’s most affordable 315+ range EV,” Chevy became the fastest-growing electric vehicle brand in the US earlier this year.
With leases starting at just $279 a month, the Chevy Equinox EV is hard to pass up right now. If you want to test out one of GM’s electric vehicles for yourself, you can use our links below to find Chevy, Cadillac, and GMC EVs near you.
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ChargePoint (NYSE: CHPT) and Eaton just unveiled ChargePoint Express Grid, powered by Eaton, a V2X‑ready ultrafast EV charging platform with full‑site power gear that pushes passenger EV charging up to 600 kW and brings megawatt‑level power for heavy‑duty fleets.
What it is
- Express Grid integrates ChargePoint’s Express DC fast chargers with Eaton’s power infrastructure.
- It’s designed to overcome grid constraints and make it easier and cheaper to roll out high‑power charging as more EVs hit the road.
- The system is V2G‑enabled and can sync onsite renewables, energy storage, and EV batteries with local energy markets to help fleets cut fueling costs. With participating utilities and at scale, it can also help balance the grid.
How it works
- Eaton custom engineers each Express configuration and ships the site‑ready power package, with an optional skid‑mounted setup to speed installation, trim equipment needs, and simplify connections to the grid and distributed energy resources (DERs).
- Eaton plans to commercialize solid‑state transformer technology in the next year through its acquisition of Resilient Power Systems to support DC applications for the EV market and beyond.
ChargePoint CEO Rick Wilmer said the new ChargePoint Express architecture, particularly the Express Grid variant, will “take DC fast charging to levels of performance and cost not previously imagined.” He added, “Combined with Eaton’s end-to-end grid capabilities, ChargePoint is delivering solutions to help EVs win on pure economics, regardless of tax incentives or government support.”
Eaton’s Paul Ryan, vice president and general manager of energy transition, called it “industry‑changing technology” that can be deployed faster while achieving new levels of reliability and efficiency “at a significantly lower cost.”
Express solutions are available to order for select customers in North America and Europe, with deliveries beginning in the second half of 2026.
Quick specs
- Platform: ChargePoint Express Grid, powered by Eaton
- Capability: V2X (with integrated V2G)
- Power: Up to 600 kW for passenger EVs; megawatt‑level for heavy‑duty
- Deployment: Site‑ready power package; optional skid‑mounted configuration
- Grid/DER: Built to sync renewables, storage, and vehicle batteries with local energy markets
- Timeline: Orders open (select customers, North America & Europe); deliveries start H2 2026
Read more: Home charging rules as global EV ports soar to 206 million by 2040
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Environment
A Chinese robot vacuum maker is not only trying to build luxury EVs, but compete with Bugatti
Only in China can a company specializing in robot vacuums be bold enough to design, manufacture, and sell EVs. Additionally, China is the only place where such a business could actually work. A company named Dreame Technology is transcending smart appliances and wants to deliver ultra-luxury BEVs. Better still, it’s already targeting Bugatti as its main competitor. Dreame big!
Dreame Technology was founded in 2017 with the goal to, per its website, “revolutionize daily life for our global consumers.” Dreame currently offers a number of electronics that do just that, including robot vacuums, robotic pool cleaners, and hair dryers.
Over the last eight years, Dreame has accumulated manufacturing know-how and its team understands much of the technology behind electric mobility, but does that mean it’s capable of transitioning into a bona fide BEV automaker?
We saw Chinese smartphone behemoth Xiaomi, announce a similar strategy back in 2021. Now, a mere four years later, Xiaomi Automobile’s two flagship BEVs are among China’s most sought-after, and the company is setting world speed records with its technology.
Dreame Technology has likely drawn some inspiration from Xiaomi, but its automotive development plans actually predate the company’s existence. Today, the robot vacuum maker has already assembled a massive team to “Dreame up” its first all-electric model—one it says will compete against the Bugatti Veyron.
From robot vacuums to luxury EVs? Meet Dreame
As reported by CnEVPost, Dreame Technology officially announced its entry into the ultra-competitive BEV industry in China, beginning with an ultra-luxe model planned for a 2027 debut that will compete against the Bugatti Veyron.
The flagship EV from the robot vacuum developer will be powered by Dreame super motors as well as an intelligent ecosystem that differs from traditional luxury vehicles, enabling “seamless integration” with user smart homes and smartphones. Per Dreame Technology:
Today, Dreame officially announces its entry into automotive manufacturing to build the world’s fastest car.
While Dreame’s decision to evolve beyond robot vacuums and pool cleaners into BEVs may seem hasty, the company explained that its plans for vehicle development actually date back to 2013, four years before the current iteration of the company was established.
Per the company, it has already assembled an automotive team of nearly 1,000 people, which it will continue to expand as development of its flagship BEV model continues. The company added:
We may not be the earliest to embark on this journey, but we will be the most determined.
What do you guys think? Can a robot vacuum company deliver the world’s fastest BEV? Can it even deliver an all-electric model that can compete in China’s saturated market? Xiaomi did it, so there’s hope. This will be a developing story to keep an eye on.
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