I had the opportunity to drive the Lucid Air Touring for a little more than a week during the holidays, and I can say with confidence that the California-designed and engineered electric luxury sedan passes the Canadian winter test with flying colors.
I am impressed. Let’s dive into it.
I had never had the chance to drive a Lucid before. Our own Scooter Doll is our main reporter on the Lucid beat, and he is a big fan of the Air, to say the least. His main complaint has been the software, which has been improving as of late, so I was excited to give it a shot with a more complete version of the car.
Since launching in Quebec, they had tried to get me in a car, but we couldn’t make it happen. Eventually, they told me they had one for me on December 23rd.
Even though it was the holidays, I couldn’t pass on the opportunity and went to pick the sleek red Air Touring for my holiday travels.
I have been following the company for a long time. From their transition as Atieva, an electric powertrain and energy storage company, to Lucid, a complete electric vehicle maker. Getting to drive one felt like a long time coming.
Lucid Air Touring
Now, I say it passes the Canadian winter test, and if you are from the region, you might say: “What winter?” Winters are indeed becoming milder around here, but I had the car for just over a week, and the timing was perfect for a true winter test.
A few hours after picking up the car in Montreal, I had to drive it back home to Shawinigan in the middle of a decent snowstorm. Two hours in the snow and the left lane on the 40 East wasn’t even plowed.
Generally speaking, a new car I am not familiar with plus a snowstorm equals being extra careful, and I was obviously cautious, but the Lucid Air’s impressive driving dynamics quickly gave me an incredible amount of confidence.
At 5,200 lbs, it’s a heavy vehicle, but it is an incredibly well-balanced 5,200 lbs.
The Air Touring is just the third most powerful version of Lucid’s flagship sedan, but I never felt like I needed more power, and that makes sense, considering it is pushing 620 hp and can accelerate from 0 to 60 mph in 3.4 seconds.
I was able to pass vehicles easily, even in the snow, and always felt in complete control of the vehicle. It is a fun, comfortable drive.
Speaking of comfort, the Lucid Air is a true luxury sedan with all the comfort features you would expect and more. The level of customization is also impressive for the seats. You could adjust them for hours to get them perfect.
The backseat is also impressive. Lucid did a great job optimizing the interior. The backseat feels like a limousine:
It’s a great car for drivers, for passengers, but the trunk space is where some people criticize the Lucid Air.
I understand why, but I would argue that trunk space is not a real problem. The trunk opening is one. It is extremely small and short:
However, in terms of volume, it is more than decent. You just need to be able to get things in. Thanks to Lucid’s extremely compact motors, there are very deep hidden compartments at the bottom of the trunk and frunk.
It leaves plenty of room for luggage, but again, it needs to fit the opening first.
For our travels, it was just my girlfriend, our cat, and I, but I could see this car easily fitting four people and luggage for a week.
That’s a good thing because this is a great road trip car, thanks to its incredible efficiency.
The Lucid Air Touring is rated at an EPA range of 406 miles (653 km), but like any other EVs or gas-powered vehicles, your mileage may vary, and the cold affects the mileage badly.
As I said, our winters are becoming milder, but I had the perfect Canadian winter test condition on Christmas day. We drove from Shawinigan to Quebec City, drove around the city, parked for hours in the cold without charging, and then went back to Shawinigan on a single charge.
Overall, it was just over 400 km (250 miles) and I arrived home with 27 km:
That might not seem too impressive for a 400-mile car, but the temperature on the drive ranged from -18 to -8°C (-1 to 18°F). If you have drivem EVs in those temperatures, you know that this is impressive.
What is most impressive is that I didn’t have to adapt my driving thanks to the impressive range and efficiency.
When I drive long distances in an electric vehicle in the cold, I would generally reduce my speed in order to extend the range, but in this case, I got a pretty good idea of the efficiency on the drive to Quebec City, so I was confident on my way back that I could make it without stopping to charge.
It enabled me to drive on the highway at my usual 119 km/h on cruise control and make it without breaking a sweat.
Electrek’s Take
That’s a game-changer. There’s no compromise. At Electrek, we like to emphasize that range is not everything with EVs. Non-EV drivers tend to think that you need more than 400 miles to have a viable EV. That’s wrong unless you drive 400 miles or more in one go often, which is not how most people use cars.
A 200-mile EV with fast-charging is a great solution for most people as you wake up with a full charge every day and for the few times a year when you drive long distances, you are able to stop for a quick 20-40-minute charge, which enables you to drive 300-400 miles in a single day easily.
However, things change in extreme cold. Once you start hitting temperatures below -15°C (5°F), the range starts to be affected badly, and that’s when a longer range becomes super useful.
Honestly, I’ve been driving EVs in the Canadian cold for almost a decade, and it hasn’t been a major issue for me. If you adapt your driving, you will be OK, and over that decade, I’ve also seen range prediction and efficiency improving, which help with this issue.
But now, if you have the money, you also have another solution: the Lucid Air. It’s truly a great, no compromise vehicle, as long as you have the money since the Lucid Air Touring at $78,900 USD ($109,300. CAD).
If you do, it would be hard to find a downside compared to other similarly priced vehicles. As previously mentioned, the software has been an issue with early versions of the Air.
I’ve only ever experienced the latest version of Lucid’s software and despite some issues, I found it more than decent, especially compared to legacy automakers.
It is equipped with Apple Carplay for those who like it, but the native navigation worked great for me, and it also has a native Spotify app. Personally, I don’t need much more than that. It’s not all perfect though. On two occasions, I had issue connecting my phone to the car and I had to disconnect and reconnect it several times for it to work.
There’s also plenty of room for UI optimization. I would like to see something like media controls for the passenger at the bottom of the center display or the right of the top display.
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Forget the patio set. This Memorial Day, the real deals are on EVs. While some savings, including the $7,500 federal EV tax credit, could soon disappear, there’s still time to take advantage of the discounts. We rounded up all the EVs you can lease right now for under $300 a month.
Best EV lease deals this Memorial Day
After a record year with over 1.3 million EVs sold in the US in 2024, several new models arrived this year, giving you more options than ever.
Nearly 300,0000 electric vehicles were sold in the first three months of the year. New Acura, Chevy, Honda, and Porsche EVs helped drive sales higher.
General Motors sold over 30,000 EVs in Q1, surpassing Ford and Hyundai Motors to become the second-best seller of EVs behind Tesla. Chevy is now the fastest-growing EV brand with the new Equinox, Blazer, and Silverado EVs sparking growth.
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Honda and Acura are getting into the game, selling over 14,000 EVs in the US in the first quarter, which is up from zero just a year ago.
According to S&P Global Mobility (via Automotive News), new models, including the Honda Prologue and Chevy Equinox EV, pushed EV registrations up 20% in March. Both are available to lease for under $300 this month.
Hyundai’s new 2025 IONIQ 5 Limited with a Tesla NACS port (Source: Hyundai)
Hyundai and Kia Memorial EV lease deals
Lease From
Term (months)
Due at Signing
Effective rate per month (including upfront fees)
2025 Kia Niro EV
$129
24
$3,999
$295
2024 Kia EV6
$179
24
$3,999
$345
2025 Hyundai IONIQ 5
$209
24
$3,999
$375
2025 Hyundai IONIQ 6
$169
24
$3,999
$335
Kia and Hyundai continue to offer some of the most affordable, efficient electric vehicles on the market. The Niro EV is one of the cheapest EVs you can lease in May at just $129 per month.
The new 2025 IONIQ 5, now with more range and a Tesla NACS charging port, and the IONIQ 6 are arriving with significant discounts.
Last month, Hyundai launched a promo giving those who buy or lease a new 2024 or 2025 model year IONIQ 5 or IONIQ 6 a free ChargePoint Level 2 home charger. If you already have one, you can also opt for a $400 public charging credit.
2024 Honda Prologue Elite (Source: Honda)
Honda Prologue and Acura ZDX
Lease From
Term (months)
Due at Signing
Effective rate per month (including upfront fees)
2024 Honda Prologue
$239
36
$1,399
$335
2024 Acura ZDX
$299
24
$2,999
$424
Honda’s electric SUV is on a hot streak. In the second half of 2024, the Prologue was the second-best-selling electric SUV behind the Tesla Model Y. Through April, Honda’s electric SUV remained a top seller with nearly 11,500 models sold.
With an ultra-low lease rate of just $239 per month, the Prologue is even more affordable than a Civic this month. No wonder sales are surging.
Honda launched the 2025 model earlier this month, which now offers more range (up to 308 miles) and power, but retains the same low starting price.
This Memorial Day, Acura’s luxury electric SUV is one of the best EV deals and is actually cheaper to lease than the Honda CR-V. The ZDX can be leased for as low as $299 for 24 months. With only $2,999 due at signing, the effective cost is just $424 per month. In some states, ZDX discounts reach as high as $28,000, also making it more affordable than a Civic to lease this month.
Chevy Equinox EV LT (Source: GM)
Chevy Blazer and Equinox EVs
Lease From
Term (months)
Due at Signing
Effective rate per month (including upfront fees)
2024 Chevy Equinox EV
$299
24
$3,169
$431
2025 Chevy Equinox EV
$289
24
$2,399
$389
2024 Chevy Blazer EV
$299
24
$3,879
$461
Chevy’s new electric SUVs are quickly rolling out. The electric Equinox was among the top five best-selling EVs in the final three months of 2024. Both can be leased for under $300 a month this Memorial Day. The Blazer EV is still slightly more expensive, at $3,879. Keep in mind that the Blazer EV deal also includes a $1,000 trade-in bonus.
The electric Equinox SUV, or “America’s most affordable +315 miles range EV,” as Chevy calls it, is even cheaper than the gas model this month with up to $8,500 in savings.
Chevy’s new 2025 Equinox is even more affordable at just $289 for 24 months. With $2,399 due at signing, you’ll pay only $389 per month.
Ford Mustang Mach-E (left) and F-150 Lightning (right) (Source: Ford)
Ford F-150 Lightning and Mustang Mach-E
Lease From
Term (months)
Due at Signing
Effective rate per month (including upfront fees)
2024 Ford Mustang Mach-E
$213
36
$4,462
$337
2024 Ford F-150 Lightning
$233
24
$6,792
$421
Ford’s F-150 Lightning overtook the Tesla Cybertruck to regain its title as America’s best-selling electric pickup in March. The Mach-E remains one of the top-selling EVs with over 14,500 models sold through April.
Ford is sweetening the deal with a free Level 2 home charger for any EV purchase or lease through its “Power Promise,” along with a host of other benefits.
2024 Subaru Solterra (Source: Subaru)
Toyota bZ4X and Subaru Solterra
Lease From
Term (months)
Due at Signing
Effective rate per month (including upfront fees)
2025 Toyota bZ4X
$259
36
$2,999
$342
2024 Subaru Solterra
$279
36
$279
$287
2025 Subaru Solterra
$299
36
$299
$307
Japanese automakers are starting to find their rhythm. Toyota bZ4X and Subaru Solterra sales are finally picking up. With an effective cost of only $287 per month, the Solterra may be the better option this month, especially with its standard AWD.
After cutting lease prices this month, the 2025 Subaru Solterra is now listed at just $299 for 36 months. With $299 due at signing, the effective monthly cost is only $307.
Other EV lease Deals at under $300 this Memorial Day
Lease From
Term (months)
Due at Signing
Effective rate per month (including upfront fees)
2025 Nissan LEAF
$259
36
$2,279
$322
2025 Nissan Ariya
$129
36
$4,409
$251
Fiat 500e
$159
24
$1,999
$242
In some states, Nissan is offering Ariya lease prices as low as $129 for 36 months. That’s with $4,409 due at signing for an effective cost of $251. For an electric SUV with an MSRP of nearly $42,000, that’s a steal.
Some of these rates may vary by region. The $239 per month Honda Prologue lease deal is offered in California and other ZEV states. Acura’s $299 ZDX promo is only available in California, New York, Oregon, and other select states.
In other parts of the country, the Prologue is still listed at just $269 per month for 36 months. With $3,199 due at signing, the effective monthly cost is still just $358. However, a $1,000 conquest or loyalty offer can lower monthly payments to around $330.
Trump’s “Big Beautiful Bill Act” was passed by House Republicans on Thursday, essentially ending the $7,500 EV tax credit and other clean energy incentives. By the end of 2025, automakers that have delivered over 200,000 electric vehicles in the US will lose access. In other words, they won’t be able to pass it on to you, the buyer.
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This week on Electrek’s Wheel-E podcast, we discuss the most popular news stories from the world of electric bikes and other nontraditional electric vehicles. This time, that includes a new launch of a full-suspension e-bike from Velotric, Yamaha-backed company’s plan for battery swapping in electric bicycles, buying a super-cheap e-bike from China, testing the Meepo Flow electric skateboard, PodBike closes its doors, the impending launch of the Royal Enfield Flying Flea electric motorcycle, and more.
The Wheel-E podcast returns every two weeks on Electrek’s YouTube channel, Facebook, Linkedin, and Twitter.
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, the video will be archived on YouTube and the audio on all your favorite podcast apps:
We also have a Patreon if you want to help us to 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 Wheel-E podcast today:
Here’s the live stream for today’s episode starting at 8:00 a.m. ET (or the video after 9:00 a.m. ET):
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Oil prices held near two-week highs in early trading on Wednesday, supported by an agreement between the U.S. and China to temporarily lower their reciprocal tariffs and a falling U.S. dollar.
Imaginima | E+ | Getty Images
A protracted slump in crude prices has ramped up the pressure on Big Oil’s commitment to allocate cash to shareholders.
Western energy supermajors have long sought to return cash to investors through buyback programs and dividends to keep their shareholders happy. Energy executives have also expressed confidence that they can continue to reward investors following a relatively robust set of first-quarter earnings.
Some analysts, however, are less convinced about Big Oil’s pledge to return ever-higher shareholder returns, citing already stretched balance sheets and a sharp drop in crude prices.
Oil prices have fallen more than 12% year-to-date amid persistent demand concerns and U.S. President Donald Trump’s back-and-forth trade policy.
Espen Erlingsen, head of upstream research at consultancy Rystad Energy, said recent market volatility has left the energy majors with “few economically attractive options” that allow for reinvestment while maintaining a competitive capital returns framework.
“As companies like Shell and ExxonMobil continue to push ahead with large-scale buyback programs despite shrinking cash inflows, the durability of these strategies is in question. For now, the majors are holding the line. But if oil prices remain depressed, adjustments may be inevitable,” Erlingsen said in a research note published Thursday.
Share buybacks, which are typically more flexible than dividends, are “likely to be the first lever pulled,” he added. In that vein, weaker crude prices mean energy majors will have less cash to return to shareholders.
BP logo is seen at a gas station in this illustration photo taken in Poland on March 15, 2025.
Nurphoto | Nurphoto | Getty Images
Investor concern over the sustainability of Big Oil’s shareholder returns comes after a year of record-breaking payouts.
Analysts at Rystad said total shareholder rewards from the likes of Shell, BP, TotalEnergies, Eni, Exxon Mobil and Chevron climbed to a whopping $119 billion in 2024, beating the previous record set in 2023.
The payout ratio, which refers to shareholder payouts as a share of corporate cash flow from operations (CFFO), meanwhile jumped up to 56% last year, Rystad said. That was well above the 30% to 40% range that was typical for the industry from 2012 through to 2022, the analysts added.
If shareholder payouts were to remain at 2024 levels throughout 2025, Rystad said this would imply companies distribute more than 80% of their cash flow to investors. The estimate was based on Big Oil’s first-quarter CFFO as a proxy for full-year performance.
Point of maximum weakness
For European majors, analysts at Bank of America said at the start of the year in a note entitled “bye-bye buybacks?” that it anticipated cuts in such returns, from companies whose balance sheets were already stretched.
The Wall Street bank cited BP, Repsol and Eni at the time. It added that only Shell, TotalEnergies and Equinor were among the regional players likely to keep their respective 2025 buyback run-rates intact.
Spokespersons for Repsol and Eni were not immediately available to comment when contacted by CNBC.
So far, BP is the only European energy major to have trimmed its buyback run-rate. The beleaguered British oil company last month posted a sharp fall in first-quarter profit and reduced its share buyback to $750 million, down from $1.75 billion in the prior quarter.
BP, which has been the subject of intense takeover speculation, also reported significantly lower cash flow and rising net debt for the first quarter.
Lydia Rainforth, head of European energy, equity research at Barclays, said BP’s future appears to be “really bright” — on the condition that the company can get through the next six months.
“If I think about when is that point of maximum weakness for BP, it is over the next six months, ultimately. Debt continues to go up a little bit, production continues to fall until mid-2026,” Rainforth told CNBC’s Steve Sedgwick on Thursday.
“As I get towards the end of the year, hopefully we’ll see that sum of divestments taking down debt. Things like … selling their lubricants business, that could raise between $12 billion to $15 billion. It brings down debt, you start to see the benefit of cost savings coming through, and then production growth starts kicking in next year,” she added.