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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.

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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.

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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-SUV
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.”

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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.

BYD-Ford-deliveries
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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Tesla offered many Cybertruck trade-ins above purchase price in apparent glitch

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Tesla offered many Cybertruck trade-ins above purchase price in apparent glitch

Over the weekend, Tesla began offering many Cybertruck trade-in estimated values above the original purchase price, apparently due to a glitch in its system.

Tesla offers online trade-in estimates for individuals considering purchasing a vehicle from them.

Over the last few days, Cybertruck owners who submitted their vehicles through the system were surprised to see Tesla offering extremely high valuations on the vehicle, often above what they originally paid for the electric truck.

Here are a few examples:

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  • $79,200 for a 2025 Cybertruck AWD with 18,000 miles. Since this is a 2025 model year, it was eligible for the tax credit and Tesla is offering the same price as new without incentive.
  • Here Tesla offered $118,800 for a 2024 Cybertruck ‘Cyberbeast’ tri-motor with 21,000 miles.
  • In this example, Tesla offers $11,000 more than the owner originally paid for a 2024 Cybertruck.

The trade-in estimates made no sense. Tesla has been known to offer more attractive estimates online and then come lower with the official final offer, but this is on a whole different level.

Some speculated that Tesla’s trade-in estimate system was malfunctioning, while others thought Tesla was indirectly recalling early Cybertrucks.

It appears to be the former.

Some Tesla Cybertruck owners who tried to go through a new order with their Cybertruck as a trade-in were told by Tesla advisors that the system was “glitching” and they would not be honoring those prices.

Tesla told buyers that it would be refunding its usually “non-refundable” order fee.

Electrek’s Take

That’s a weird glitch. I assume that it was trying to change how the trade-in value would be estimated and the new math didn’t work for the Cybertruck for whatever reason.

It’s the only thing that makes sense to me.

The Cybertruck’s value is already quite weird due to the fact that Tesla still has new vehicles made in 2024, which are not eligible for the tax credit incentive, while the new ones made in 2025 are eligible.

There’s also the Foundation Series, which bundles many features for a $20,000 higher price.

All these things affect the value and can make it hard to compare with new Cybertrucks offered with 0% interest.

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At $28,000 off, is the Jeep Wagoneer S the best EV deal going? [update]

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At $28,000 off, is the Jeep Wagoneer S the best EV deal going? [update]

Like a 90s “gifted” kid that was supposed to be a lot of things, the electric Jeep Wagoneer S never really found its place — but when dealers started discounting the Jeep brands forward-looking flagship by nearly $25,000 back in June, I wrote that it might be time to give the go-fast Wagoneer S a second look.

This month, the discounts are even better.

UPDATE 23AUG25: I found you some even better EV deals!


Whether we’re talking about Mercedes-Benz, Cerberus, Fiat, or even Enzo Ferrari, outsiders have labeled Jeep as a potentially premium brand that could, “if managed properly,” command luxury-level prices all over the globe. That hasn’t happened, and Stellantis is just the latest in a long line of companies to sink massive capital into the brand only to realize that people will not, in fact, spend Mercedes money on a Jeep.

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That said, the Jeep Wagoneer S is not a bad car (and neither is its totally different, hideously massive, ICE-powered Wagoneer sibling, frankly). Built on the same Stellantis STLA Large vehicle platform that underpins the sporty Charger Daytona EVs, the confusingly-named Wagoneer S packs dual electric motors putting out almost 600 hp. That’s good enough to scoot the ‘ute 0 to 60 mph in a stomach-turning 3.5 seconds and enough, on paper, to convince Stellantis executives that they had developed a real, market-ready alternative to the Tesla Model Y.

With the wrong name and a sky-high starting price of $66,995 (not including the $1,795 destination fee), however, that demand didn’t materialize, leaving the Wagoneer S languishing on dealer lots across the country.

That could be about to change, however, thanks to big discounts on Wagoneer S being reported at CDJR dealers in several states:

  • Jeff Belzer’s in Minnesota has a 2025 Wagoneer S Limited with a $67,790 MSRP for $39,758 ($28,032 off)
  • Troncalli CDJR in Georgia has a 2025 Wagoneer S Limited with a $67,590 MSRP for $42,697 ($24,893 off)
  • Whitewater CDJR in Minnesota has a 2025 Wagoneer S Limited with a $67,790 MSRP for $43,846 ($23,944 off)
  • Antioch CDJR in Illinois has a 2025 Wagoneer S Limited with a $67,790 MSRP for $44,540 ($23,250 off)

“Stellantis bet big on electric versions of iconic American brands like Jeep and Dodge, but consumers aren’t buying the premise,” writes CDG’s Marcus Amick. “(Stellantis’ dealer body) is now stuck with expensive EVs that need huge discounts to move, eating into already thin margins while competitors focus on [more] profitable gas-powered vehicles.”

All of which is to say: if you’ve found yourself drawn to the Jeep Wagoneer S, but couldn’t quite stomach the $70,000+ window stickers, you might want to check in with your local Jeep dealer and see how you feel about it at a JCPenneys-like 30% off!


Original content from Electrek; images via Stellantis.


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New 50-ton SANY reach stacker brings Formula 1 tech to the job site

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New 50-ton SANY reach stacker brings Formula 1 tech to the job site

Multinational equipment brand SANY just launched a clever new 50-ton reach stacker that pairs gravity and an F1-style KERS system to generate electricity, improve operating efficiency, and reduce costs. The best part: they’re putting that smart tech to work by helping clean up (and shore up) the grid.

Short for Kinetic Energy Recovery System, KERS was a staple of Formula 1 in the late aught and 2010s. Essentially an advanced form of regenerative braking, KERS captured the kinetic energy of a car at speed that would normally be lost as heat when the brake pads pressed against the brake discs. Instead of heat, KERS converted that energy into electricity (storing it in a battery or flywheel), to be deployed later.

Sebastian Vettel explains KERS


4x WDC Sebastian Vettel explains KERS.

In practice, KERS gave drivers an extra boost of horsepower at the push of a button, enabling them to attack or defend their position on track and adding a fresh strategic element to the sport. In SANY’s case, that stored power is fed back into the reach stacker’s electric hydraulic system, reducing pressure loss across the high-pressure setup by 50%, and lowering the machine’s overall energy consumption by more than 60%.

Energy recovery is a key feature. The potential energy of the boom, lifting gear and energy storage cabinets during the boom’s descent can be recovered efficiently with an overall recovery efficiency of over 65%. That means every 1 kWh of consumption in lifting can be recovered by 0.4 kWh during descent.

SANY

The 50t reach stacker is available with a 512 kWh swappable battery pack that’s compatible with other SANY heavy equipment assets, and supports both DC fast charging when swapping isn’t practical or (for whatever reason) desirable.

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On a single charge and backed by the onboard KERS, that’s good enough for the machine can lift and move containers for more than 7 continuous hours, which SANY claims significantly reducing downtime for charging compared to other, similar equipment assets.

The new SANY reach stacker can stack six 50-ton containers, greatly enhancing a site’s container and battery storage density within a limited space. The first units will reach unnamed customers building out a utility-scale energy storage project by the end of this month.

Electrek’s Take


50 tonne electric reach stacker; via SANY.

All the great stuff I was saying about the new 65-tonne XCMG still holds true for the SANY (especially when they take the wraps off their own 65t BESS-specific unit later this year), but the SANY adds smart battery swap tech and what seems to be more efficient operations, too.

Regardless of which one you choose, it seems like the available options for reach stacker operators are just getting better and better!

SOURCE | IMAGES: SANY.


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