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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Massachusetts is launching a first-of-its-kind statewide vehicle-to-everything (V2X) pilot program. This two-year initiative, backed by the Massachusetts Clean Energy Center (MassCEC), aims to deploy 100 bidirectional chargers to homes, school buses, municipal, and commercial fleet participants across the state.
These bidirectional chargers will enable EVs to serve as mobile energy storage units, collectively providing an estimated 1.5 MW of new storage capacity. That means EVs won’t just be getting power – they’ll be giving it back to the grid, helping to balance demand and support renewable energy use. The program is also focused on ensuring that low-income and disadvantaged communities have access to this cutting-edge tech.
The Massachusetts pilot is one of the largest state-led V2X initiatives in the US and is designed to tackle key challenges in deploying bidirectional charging technology. By strategically placing these chargers in a variety of settings, the program aims to identify and resolve barriers to wider adoption of V2X technology.
Massachusetts EV owners and fleet operators enrolled in the program will get bidirectional chargers capable of both vehicle-to-grid (V2G) and backup power operations at no cost. Here’s what they stand to gain:
- No-cost charging infrastructure: Bidirectional charging stations and installation are fully covered for participants.
- Grid resilience: With an estimated 1.5 MW of new flexible and distributed storage assets, the program strengthens Massachusetts’ energy infrastructure.
- Clean energy integration: V2G technology allows EVs to charge when renewable energy is available and discharge stored energy when it’s not, supporting the state’s clean energy goals.
- Backup power: EV batteries can be used as backup power sources during outages.
- Revenue opportunities: Some participants can earn money by sending stored energy back to the grid.
Clean energy solutions firm Resource Innovations and vehicle-grid integration tech company The Mobility House are leading the program’s implementation. “With the charging infrastructure provided through this program, we’re eliminating financial barriers and enabling school districts, homeowners, and fleets to access reliable backup power,” said Kelly Helfrich of Resource Innovations. “We aim to create a scalable blueprint for V2X programs nationwide.”
“Bidirectional charging benefits vehicle owners by providing backup power and revenue opportunities while strengthening the grid for the entire community,” added Russell Vare of The Mobility House North America.
The program is open for enrollment now through June 2025. For more details, visit the MassCEC V2X Program webpage. A list of eligible bidirectional vehicles can be found on that page.
Read more: Cambridge’s new solar VPPA is the largest ever by any US city
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Compton, California, has unveiled 25 new electric school buses – the school district’s first – and 25 Tellus 180 kW DC fast chargers.
Compton Unified School District (CUSD) in southern Los Angeles County is putting 17 Thomas Built Type A and eight Thomas Built Type C electric school buses on the road this spring. In addition to working with Thomas Built, CUSD also collaborated with electrification-as-a-service provider Highland Electric Fleet, utility Southern California Edison, and school transportation provider Durham School Services.
Environmental Protection Agency’s (EPA) Clean School Bus Program awarded funds for the vehicles in the program’s first round. EPA also awarded CUSD funds for the third round of the program and anticipates introducing an additional 25 EV school buses in the future.
“I can’t stress enough how vital grants like these are and the need for continued support from our partners in government at the state and federal level to fund additional grants for school districts and their transportation partners that are ready to deliver and operate zero-emission buses,” said Tim Wertner, CEO of Durham School Services.
CUSD, which serves Compton and parts of the cities of Carson and Los Angeles, currently serves more than 17,000 students at 36 sites. The district has a high school graduation rate of 93% and an 88% college acceptance rate. One in 11 children in Los Angeles County have asthma, which makes the need for emissions-free school transportation that much more pressing.
Read more: Thomas Built Buses debuts its next-gen electric school bus
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After cutting lease prices by $200 this month, the Rivian R1S is now surprisingly affordable. It may even be a better deal than the new Tesla Model Y.
Rivian cuts R1S lease prices by $200 per month
Rivian’s R1S is one of the hottest electric SUVs on the market. If you haven’t checked it out yet, you’re missing out.
With some of the best deals to date, now may be the time. Rivian lowered R1S lease prices earlier this month to just $599 for 36 months, with $8,493 due at signing (30,000 miles). The offer is for the new 2025 R1S Adventure Dual Standard, which starts at $75,900.
Before the price cut, the R1S was listed at $799 per month, with $8,694 due at signing. The electric SUV now has the same lease price as the R1T, despite costing $6,000 more.
The 2025 R1T Dual Motor starts at $69,900, essentially making it a free $6,000 upgrade. At that price, you may even want to consider it over the new Tesla Model Y.
Tesla’s new Model Y Launch Series arrived with lease prices of $699 for 36 months. With $4,393 due at signing, the effective rate is $821 per month, or just $13 less than the R1S at $834. However, the 2025 R1S costs nearly $15,000 more, with the Model Y Launch Series price at $59,990.
Rivian is also offering an “All-Electric Upgrade Offer” of up to $6,000 for those looking to trade-in their gas-powered car, but base models are not included.
| Starting Price | Range (EPA-est.) |
|
| 2025 Rivian R1S Dual Standard | $75,900 | 270 miles |
| 2026 Tesla Model Y Launch Series | $59,990 | 327 miles |
To take advantage of the Rivian R1S lease deal, you must order it before March 15 and take delivery on or before March 31, 2025.
The 2025 Rivian R1S Dual Standard Motor has an EPA-estimated range of up to 270 miles. Tesla’s new Model Y Launch Series gets up to 327 miles.
Which electric SUV would you choose? Rivian’s R1S or the new Tesla Model Y? If you’re ready to check them out for yourself, you can use our links below to find deals on the Rivian R1S and Tesla Model Y in your area.
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