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EV startup Lucid Motors (LCID) released its fourth-quarter earnings on Tuesday, beating estimates with big expectations for 2025. Lucid said it expects to produce about 20,000 EVs this year with the output of its first electric SUV, the Gravity, ramping up.

Q4 2024 earnings preview

After four straight record quarters, Lucid delivered 10,241 vehicles last year. That’s up 70% from the roughly 6,000 EVs Lucid delivered in 2023.

In the final three months of 2024, the company delivered 3,099 vehicles alone, nearly 80% more than the year prior. Lucid also hit its production target for the year with 9,029 EVs built at its Casa Grande, Arizona manufacturing plant.

After launching its first electric SUV, the Gravity, in December, the EV maker expects output to pick up this year.

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The higher volume helped Lucid generate $200 million in revenue in the third quarter, but its net loss also widened to $992.5 million compared to $630.9 million in Q3 2023.

Like most, Lucid has introduced significant discounts and incentives with up to $15,000 in savings on select Air models.

Q4 2022 Q1 2023 Q2 2023 Q3 2023 Full-year 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Full-year 2024
Lucid EV deliveries by quarter 1,932 1,406 1,404 1,457 6,001 1,734 1,967 2,394 2,781 3,099 10,241
Lucid (LCID) EV deliveries by quarter through 2023 to 2024

Wall St is estimating Lucid will post Q4 revenue of $214 million, up from $157.2 million in Q4 2023, with an eps loss of 0.25.

Lucid aims to double EV production in 2025

Lucid reported Q4 revenue of $234.5 million, up nearly 50% from the prior year and beating Wall St estimates. For the full year, the company generated $807.8 million, up from $595.2 million in 2023.

  • Lucid Q4 2024 revenue: $234.5 million vs $214 million expected
  • Lucid Q4 2024 EPS: (-$0.22) vs (-$0.25) expected

The company also improved gross margins by 72pts to (-89%). Despite the higher output, Lucid’s operating loss narrowed to $732.95 million in Q4, down from $736.87 million a year prior.

Lucid ended the quarter with about $6.13 billion in liquidity, which the EV maker said will be sufficient into the second half of 2026 when it plans to launch its midsize platform.

Lucid-Q4-2024-earnings
Lucid Q4 2024 earnings (Source: Lucid Motors)

CEO Peter Rawlinson said earlier this month that the midsize platform is “finally when we compete directly with Tesla.” The first two models are expected to be an electric SUV and sedan starting at around $50,000, aimed at Tesla’s Model 3 and Model Y.

Interim CFO Gagan Dhingra said, “We made substantial progress in improving our gross margins, managing our operating expenses while balancing strategic growth investments, and strengthening our balance sheet with the support of the Public Investment Fund (PIF).”

Lucid-Q4-2024-EV-costs
(Source: Lucid Motors)

Lucid expects to produce around 20,000 vehicles in 2025, more than double the just over 9,000 EVs it built last year.

The company said it will “continue to prudently manage and adjust production to meet sales and delivery needs” this year.

Lucid-Gravity-EV-Tesla-Supercharger
Lucid Gravity electric SUV at a Tesla Supercharger (Source: Lucid Motors)

Lucid’s upbeat guidance comes after Rivian (RIVN) announced during its Q4 earnings last week that it expected slightly fewer deliveries this year. Rivian said the lower guidance was due to “external factors,” including changes in government policies and regulations.

The company also announced several management changes. COO Mark Winterhoff will serve as interim CEO, while Peter Rawlinson will become a Strategic Technical Advisor on the board. Meanwhile, Taoufiq Boussaid has been appointed CFO.

Lucid’s stock climbed over 8% after beating fourth quarter estimates and raising EV output guidance for 2025. Check back for updates from Lucid’s earnings call. We will post updates from the call below.

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Preorder Segway’s new Ninebot F3 smart eKickScooter at $250 off, Anker SOLIX flash sale takes 45% off units, Greenworks, LG, more

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Preorder Segway's new Ninebot F3 smart eKickScooter at 0 off, Anker SOLIX flash sale takes 45% off units, Greenworks, LG, more

Headlining today’s mid-week Green Deals is the early-bird preorder savings you can score on Segway’s new Ninebot F3 eKickScooter through April 14 that drops the price down to $600, with similar smart features to last month’s Max G3 model, including Apple Find My and autonomous locking/unlocking, among others. Next, Anker has launched another SOLIX weekend flash sale that is offering up to $2,898 in savings on a selection of varying backup power solutions, including the F2000 Portable Power Station with a 400W solar panel for $1,599, as well as some C800 Plus and F3800 offers. Next, we have a roundup of Greenworks electric pressure washers for your spring cleaning needs, with the brand’s GPW2003 2,000 PSI model hitting a new $135 low. Bringing up the rear is LG’s WashCombo All-in-One Electric Washer/Dryer with Ventless Inverter Heat Pump that is down at $1,999. Plus, all the other hangover Green Deals are in the links at the bottom of the page, like yesterday’s EcoFlow Easter Sale offers, the collection of EGO lawn care savings, 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.

Score $250 in preorder savings on Segway’s new Ninebot F3 smart eKickScooter at $600

Segway is launching preorders on its newest commuting option, the Ninebot F3 eKickScooter that will be down at $599.99 shipped through April 14 before opening for general purchases on April 15. This all new model will carry an $850 price tag once these pre-sale discounts are over, with this being the very first chance at cash savings. Taking advantage of this deal saves you 29% off its MSRP, putting $250 back in your pocket and giving us an idea of what future discounts may bring us. Head below to learn more about this new e-scooter and its features.

Joining the lineup alongside last month’s flagship Max G3 release and January’s GT3 SuperScooter, Segway’s new Ninebot F3 eKickScooter also sports many similar smart features that will surely have riders excited – especially at this lower rate.

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The designers of Segway’s Ninebot F3 eKickScooter have kept daily commutes in mind, giving it a brushless motor that can max out at 1,000W of power to tackle up to 20% inclines, while it pairs with the 477Wh battery to provide up to 44 miles of travel on a single charge at top speeds of 20 MPH. Aside from its smart innovations, you’re commute will be further enhanced by the 10-inch self-sealing jelly tires, a larger footboard, front hydraulic and rear elastomer suspension, a 6W auto-on headlight, brake lighting, turn signals, a front mechanical disc brake, as well as a rear electronic brake, and a 2.4-inch TFT smart display with navigation and caller ID – plus, the whole thing sports an IPX6 water-resistance rating.

Of course, the biggest of these new features has to be the Apple Find My capabilities and Airlock proximity locking/unlocking which can both be accessed via its companion app, with the distance for the latter feature being adjustable through the smart controls. It’s also been given the brand’s SegRange optimization that improves travel range by 20%, as well as the SegRide Stability Enhancement System that improves handling by making it far more resistant to disturbances you ride over and slipping on wet roads, even at its top speeds.

“As leaders in the personal transportation space, we’re not only innovating for the future, but innovating for every day. The F3 is the latest in our popular commuter scooter series. With each iteration of our scooters, we hope to make every ride a little bit better. Whether commuters riding to work, college students riding to class, or anyone just looking for some fun, our new F3 will deliver greater comfort, convenience and efficiency.”Tom Hebert, VP of Sales at Segway

If you’re interested in the brand’s Ninebot Max G3 eKickScooter, specifically, you’ll find the best current price on it coming from Amazon right now, where it’s $400 off over Segway’s direct $300 off discount.

Anker SOLIX F2000 Portable Power Station

Anker SOLIX weekend flash sale drops F2000 solar generator with 400W panel to $1,599

Anker is having a SOLIX weekend flash sale that is continuing some of the flash deals we saw last weekend along with some additional savings. Aside from the F3800 bundle discounts, a notable bundle is the F2000 Portable Power Station which comes along with a 400W solar panel for $1,599 shipped. These flash savings are bringing costs down from its usual $2,898 rate, with things only beaten out by the discount from Christmas sales that dropped things $100 lower. You’re looking at the second-lowest price here, which saves you $1,299 while also equipping you with a reliable means of backup power for trips and emergencies. It’s also beating out Amazon where it sits $24 higher in price.

A solid mid-tier option for keeping devices and appliances running, Anker’s SOLIX F2000 power station provides a 2,048Wh LiFePO4 capacity that can deliver up to 2,400W of output on average with the ability to surge to 3,600W for larger appliance needs. Its 12 output ports give you a versatile range of coverage, including a TT-30 port to connect to your RV while out on the road and beyond. You can regain 80% of its battery in 1.4 hours by plugging it into a standard wall outlet, with it also boasting a 1,000W max solar input that would yield the same amount in 2.5 hours (and a little over 5 hours for the included 400W panel). There’s also the option to connect it to your car’s auxiliary port, as well as the usual array of smart controls available through its companion app.

Anker’s other SOLIX weekend flash sale offers:

You can check out all Anker’s SOLIX weekend flash sale offers, as well as the usual power deals on the landing page here.

Greenworks 2,000 PSI electric pressure washer

Clean off winter grime with Greenworks’ 2,000 PSI electric pressure washer at a new $135 low

Amazon is now offering up to 33% discounts on a selection of Greenworks electric pressure washers, just in time to jump into your outdoor spring cleaning. Among the featured models, you’ll find the largest of these markdowns being on the GPW2003 2,000 PSI Electric Pressure Washer for $134.99 shipped. The 33% markdown here is taking a significant chunk off its usual $200 price tag, with all the past discounts we’ve seen only going as low as $140. You’ll be saving $65 while the savings last here, giving you a more eco-friendly means to get outdoor cleaning done at a new all-time low price.

Spring has sprung and now there is cleaning to be done – whether that entails cleaning the grime off your home, walkways, driveway, patio furniture, and more – and this 14A Greenworks pressure washer is ready to help. It provides you with up to 2,000 PSI alongside a 1.2 GPM flow rate to efficiently clean – plus, there’s no gas or oil required, meaning no emissions. A nice little addition here is the onboard soap tank that lets you easily switch between a standard power wash to using the cleaning detergent of your preference. The device also comes with 25 feet of kink-resistant hose and four nozzle attachments.

More Greenworks electric pressure washer deals:

If you are looking for an affordable means to remove thatch and aerate your lawn’s soil to get it back to health after this winter, Greenworks’ 13A 14-inch Corded Dethatcher/Scarifier is down at $128 right now.

LG WasCombo all-in-one electric washer/dryer with ventless heat pump inverter

Score $1,050 in savings on LG’s all-in-one electric washer/dryer combo with a ventless heat pump design at $1,999

Right now you can find LG offering its WashCombo All-in-One Electric Washer/Dryer with Ventless Inverter Heat Pump for $1,999 shipped. You’d normally be shelling out $2,999 for this model, which would be bumped up to $3,049 would it not be for the free delivery, installation, and haul-away services. We’ve mostly seen it come down to $2,000 on average, with today’s rate only beaten out by the $1,500 low that dropped during the brand’s July 4th sale last year. You’ll be getting $1,050 in savings here at the second-lowest price we have tracked, complete with additional savings options in the form of possible trade-ins, as well as discounted premium care plans. You’ll find it sitting $1 higher at Best Buy right now, though there are more costs to be considered, as delivery and installation would cost you an extra $65.

The LG WashCombo arrives as an ENERGY STAR-certified all-in-one model that brings more intelligence to your laundry routine. It offers an array of smart controls through its companion app while also having been given a built-in smart system that not only recognizes the soil levels of any fabrics thrown inside but then adjusts its settings to provide optimal cleaning. You won’t have to stress over perfectly memorizing what cycles/settings work best for each. It’s also worth noting that due to its 2-in-1 design, you could double up to replace your separate washer and dryer units to do double the laundry loads at the same time – washed and dried simultaneously in each.

There are two standout features that take this model to more convenient heights, with the first of them being the ventless design, allowing you to install it anywhere with access to a standard 120V plug – plus, there’s the inverter heat pump that increases efficiency “using up to 60% less energy with every load” over other models. There’s also the ezDispense reservoir that holds up to 31 loads worth of detergent so you can just load and go, there’s even an option to split its capacity between detergent and fabric softener. You’ll also find available accessories that you can bundle to expand its functionality, all on the same landing page, including a pedestal washer or the storage drawer.

Best New Year EV 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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Check out Honda’s funky new electric SUV and Prelude on the road for the first time [Video]

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Check out Honda's funky new electric SUV and Prelude on the road for the first time [Video]

Honda’s next-gen EVs are finally coming. On Wednesday, a Honda 0 prototype made its global debut in Tokyo, giving us our first look at the electric SUV in action. Honda’s new electric SUV and the upcoming Prelude were shown on public roads for the first time. Although still a prototype, the new SUV looks pretty… boxy?

Honda’s new electric SUV hits the road for the first time

The 0 SUV will be the first of its upcoming “0 Series” lineup, kicking off a new generation of Honda EVs. We got our first look at the electric SUV and Saloon in concept form last January.

Dubbed the “Space-Hub” concept, Honda’s electric SUV is just that. Earlier this year, Honda unveiled the 0 Series SUV and Saloon EV prototypes at the 2025 Consumer Electronics Show (CES), giving us a closer look at what we can expect to see when they actually hit the street.

On Wednesday, a prototype of the Honda 0 SUV was shown on a public road for the first time at a Formula One event in Tokyo.

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Honda used a specific wrap with geometric lines, calling it “a visual representation of the company’s new approach to EV development.”

Although the prototype has a slightly better shape, what’s up with the rear? The initial concept shown last year looked like a minivan from space. Now, the Honda 0 has more of an SUV-like shape, but it still seems out of proportion.

Honda said it aims to offer more value with its upcoming 0 Series EVs as a “space” rather than just a way of getting from point A to point B. Love it or hate it, the chunky backside on Honda’s electric SUV is designed to maximize interior space.

The production model is expected to launch in North America next year. It will be built at Honda’s EV Hub in Ohio (which we got to tour).

After that, Honda’s new electric SUV will roll out to other global markets, including Japan and Europe. Later this year, a hybrid electric Prelude will join Honda’s lineup.

What do you think of the electric SUV prototype? Would you buy one over its current Prologue? Let us know in the comments.

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NYC to sue Tesla over Elon Musk’s alleged breach of fiduciary duties

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NYC to sue Tesla over Elon Musk's alleged breach of fiduciary duties

New York City Comptroller Brad Lander has asked the city, which is a major Tesla shareholder, to sue Tesla and CEO Elon Musk over alleged breaches of fiduciary duties.

Lander asked the New York City Law Department to pursue securities litigation against Tesla on behalf of the New York City pension systems, which owns 3 million shares in Tesla.

The comptroller said:

“Ever since Elon Musk took over DOGE and became best-friend-in-chief with President Trump, Tesla—where Musk is supposed to be CEO—has suffered financially, causing enormous losses for Tesla shareholders. In less than three months, Tesla stock has lost nearly 40% of its value, with losses over $300 million for the New York City pension systems. We have long expressed concerns that the Tesla board has failed to provide independent oversight, or to require that Musk – or someone else – serve as a full-time CEO. Now, it appears that material misstatements from Tesla misled investors about his role at the company. That’s why I’m calling on the Law Department to file securities litigation: because Elon Musk is so distracted that he’s driving Tesla off a financial cliff and taking down shareholder value with it.” 

It echoes other recent concerns regarding Musk’s fiduciary duties to Tesla shareholders.

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Last summer, Tesla shareholders sued Tesla over an alleged breach of fiduciary duty regarding Musk’s AI funneling threats.

In the lawsuit, the shareholders argue that Musk has breached his fiduciary duties to Tesla shareholders by funding xAI, a private AI company, poaching Tesla employees, threatening not build AI products at Tesla unless given more control over the company, and for funneling resources from Tesla to his private companies.

Now, the NYC comptroller is piling on by adding that Tesla and Musk have been misleading about the CEO’s role at the company over the last year:

Despite stating in Tesla’s December 2024 SEC filing that “We are highly dependent on the services of Elon Musk, Technoking of Tesla and our Chief Executive Officer” and claiming that he “spends significant time with Tesla,” Musk has clearly abandoned Tesla in favor of DOGE and President Trump’s MAGA mission. By wreaking havoc on the Inflation Reduction Act, he is taking actions that are harmful to the market for electric vehicles. In addition, he alienated Tesla’s consumer base, causing Tesla’s vehicle sales to severely decline. Since 2017, the New York City pension systems have put the Tesla Board of Directors on notice over concerns regarding corporate governance and leadership, including the lack of a full-time CEO.  

As a representative of a major shareholder in Tesla, Lander has officially asked New York City’s law department to file “a 10b-5 shareholder lawsuit against Tesla, on behalf of the New York City pension systems, for their material misrepresentations regarding the leadership of the company.”

Electrek’s Take

If there’s still justice in the US, I think it’s inevitable that Musk will be found in breach of his fiduciary duty to Tesla shareholders.

There are so many examples from poaching Tesla employees for his private companies, to threatening not to build AI products, which he claimed were critical to Tesla, to literally funneling resources from Tesla to xAI.

And now he makes this deal with himself for xAI to buy X.

I expect that he will push for Tesla to invest in xAI at Tesla’s upcoming shareholders meeting right after he artificially inflated the price with an overpriced acquisition of Twitter – for a second time.

It’s all madness. I would think that the breach of fiduciary duties would be fairly clear, but with the lack of checks and balances in the US these days, I’m not sure justice will prevail.

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