Lucid’s EV price cuts are working as Gravity electric SUV launch nears
EV maker Lucid Motor’s (LCID) recent price cuts have been “well received by customers,” according to CEO Peter Rawlinson. The company’s leader also said the Gravity electric SUV launch is on track for November.
Amid a wave of price cuts that started with Tesla earlier this year, Lucid slashed prices earlier this month on its Air EV by up to $12,400.
The EV maker is offering what it calls the “Pure Summer Event,” featuring special lease and financing deals on the Lucid Air Pure AWD and available Touring and Grand Touring models. The promotion runs through August 31.
Those looking to purchase a Lucid Air Pure can save $5,000 with a new listing price of $82,400 (down from $87,400) and available 4.99% financing (for up to 72 months).
Lucid is also offering a lease deal that includes $749 per month for 36 months, with $7,699 due at signing. The Lucid Air Pure lease model price is $83,900, including destination.
The Air Touring is available at $95,000 (with 4.99% APR financing) or $1,149 per month lease (36 months) with $9,814 due at signing. The total lease price, including destination, is $112,400.
Meanwhile, the 1,050 hp Grand Touring Performance with 516 miles EPA estimated range is on sale for $125,600 or $1,399 per month lease with $10,899 due at signing (for a $140,000 lease model price). Both the Touring and Grand Touring are $12,000 off.
Lucid Air EV price cuts are boosting interest
So far, the price cuts are working, according to Rawlinson. Lucid’s CEO told Yahoo Finance at the Pebble Beach Concours that it has seen an uptick in sales and increased interest in the brand following the promotional pricing.
Rawlinson said the company reverted to its original pricing, which he believes “we got about right.” He added:
We hit some really inflationary challenges particularly in batteries as we got into the summer of ’22. (So) we had to take a price action accordingly. But I’m delighted to say we’re back to our original pricing structure and, and that’s been so well received by customers in the market alike.
Although Lucid’s EVs don’t qualify for the $7,500 tax credit because of their price, they do qualify for the credit through leasing.
The move comes after Lucid’s deliveries fell for the second straight quarter in Q2 with 1,404 units. Meanwhile, the EV maker has several big launches coming up.
Lucid teased the 1,200 hp Air Sapphire coming off the assembly line last month, claiming it will be available soon. The ultra-high-performance EV starts at $249,000.
Rawlinson said the company offered test drives around Monterey Peninsula to build brand awareness for the upcoming Sapphire launch.
The EV maker is also set to release its first electric SUV, the Gravity, which Rawlinson says is on track for its official debut. He said, “We’re going to have a real launch event, an unveiling this November. So watch this place, there’s going to be a world premiere, and I’m really excited.”
Lucid has around 30 three-row Gravity SUV prototypes rolling around as it finalizes development. Although pricing has yet to be revealed, expectations are upward of $100,000.
Rawlinson didn’t mention specifics, so we will have to wait until Lucid releases third-quarter delivery numbers to see how well the price cuts are really working to stimulate demand.
Are you ready to try the high-performance, long-range, electric luxury sports sedan out for yourself? Take advantage of Lucid’s price cuts by using our link to reach out today and find your next Air EV at a great price.
FTC: We use income earning auto affiliate links. More.
Elon Musk has claimed that the Democratic party organized recent protests at Tesla locations worldwide. As he usually does with his wild claims lately, he hasn’t offered any proof whatsoever.
Over the last few weeks, there have been growing protests at Tesla locations around the word.
It started small with just a few locations in the US, but it has since grown to now dozens of locations every weekend, with sometimes hundreds of people at some locations.
Protestors have different reasons for wanting to disrupt Tesla, but they are mostly centered around seeing the company as Elon Musk’s piggybank and they are upset at his involvement in the government through his financial contribution to Trump’s election and his role at the Department of Government Efficiency (DOGE).
Musk took to X today to comment on the situation, and he made the claim that the protests at Tesla locations are funded by ActBlue:
An investigation has found 5 ActBlue-funded groups responsible for Tesla “protests”: Troublemakers, Disruption Project, Rise & Resist, Indivisible Project and Democratic Socialists of America. ActBlue funders include George Soros, Reid Hoffman, Herbert Sandler, Patricia Bauman, and Leah Hunt-Hendrix. ActBlue is currently under investigation for allowing foreign and illegal donations in criminal violation of campaign finance regulations. This week, 7 ActBlue senior officials resigned, including the associate general counsel.
ActBlue is a political action committee (PAC) used by the Democratic Party.
Musk did not elaborate on what “investigation” he was referring to nor did he provide any proof to back up his claim. In fact, he even asked for people to help provide information:
“If you know anything about this, please post in replies.”
Musk directly named Reid Hoffman, his former Paypal Mafia friend turned foe due to political differences, who was quick to deny any involvement:
Just one more of Elon’s false claims about me: I never funded anyone for Tesla protests. I don’t condone violence. But it’s clear Americans are angry at him – it’s easier to explain away their anger, than to accept that actions have consequences.
While the Democratic Party could be sympathetic to the Tesla protestors, there’s no evidence that they started the “Tesla Takedown” movement or have any significant involvement.
As we previously reported, it started as a grassroots movement with some posts on BlueSky, an X competitor, last month.
It has since gained considerable momentum, and they are now using Action Network, an open platform, to organize. As it grew, some groups have gotten involved to organize local protests, like The Disruption Project, which claims to stand “against the unjust systems of racial capitalism, the hetero-patriarchy, white supremacy and settler colonialism.”
In Seattle, The Troublemakers, a local environmentalist group, has also been helping organize.
The biggest blow to Musk’s claim is that there have also been protests outside the US, including in Canada and Europe. It’s unlikely that the US Democratic party would be involved in those.
There are currently six protests planned in Europe by the “Tesla Takedown” in the coming weeks:
Musk has also been involved in European politics, promoting far-right parties throughout Europe.
Along with the claims about the Tesla protests, Musk also retweeted someone linking several Cybertrucks burning down at a Tesla location in Seattle to “Democrat NGOs”:
Again, this claim is without evidence. In fact, the fires are still under investigation and it hasn’t yet been confirmed if it was arson.
Electrek’s Take
Could the Democratic Party be involved in some of the protests? It wouldn’t shock me, but you can claim that without proof.
I think most people involved in the protests are just mad at Elon for any of the hundreds of stupid things he has done or said in the last few months, including doing a couple of Nazi salutes at Trump’s inauguration.
He prefers to think that there’s some grand conspiracy against him because that’s easier to swallow than people hating home for being a compulsive liar, oligarch dork with the sense of humor of a maladjusted 13-year-old.
FTC: We use income earning auto affiliate links. More.
Environment
U.S. could reach deal with Canada that avoids oil and gas tariffs, energy secretary says
HOUSTON — The U.S. could reach an agreement with Canada that avoids tariffs on imports of oil, gas and other energy resources, Energy Secretary Chris Wright said Monday.
Wright said such a scenario is “certainly is possible” but “it’s too early to say” in response to a question from CNBC during a press conference at the CERAWeek by S&P Global. The U.S. is in “active dialogue” with Canada and Mexico, the energy secretary said.
President Donald Trump has paused until April 2 tariffs on Mexican and Canadian imports that are compliant with the agreement which governs trade in North America. Trump originally imposed broad 25% tariffs on goods from both countries as well as lesser 10% tariffs on energy imports from Canada.
It’s unclear, however, how much of the oil, gas and other energy that the U.S. imports from Canada is compliant with the United States-Mexico-Canada Agreement. Wright declined to provide specifics when CNBC asked how much of those imports are USMCA compliant.
“I’m going to avoid the details for now,” Wright said. The energy secretary said, “We can get to no tariffs or very low tariffs but it’s got to be reciprocal” in an interview with CNBC’s Brian Sullivan.
Canada’s energy minister, Jonathan Wilkinson, warned last week that energy prices will rise in the U.S. if the tariffs on energy imports go into full effect.
“We will see higher gasoline prices as a function of energy, higher electricity prices from hydroelectricity from Canada, higher home heating prices associated with natural gas that comes from Canada and higher automobile prices,” Wilkinson told CNBC’s Megan Cassella in an interview.
The U.S. has been the largest producer of crude oil and natural gas in the world for years. But many refiners in the U.S. are dependent on heavy crude imported from Canada. The U.S. imported 6.6 million barrels of crude oil per day on average in December, more than 60% of which came from Canada, according to the Energy Information Administration.
Wright acknowledged that the tariffs are creating uncertainty in energy markets as negotiations continue.
“We’re in the middle of negotiations for where things are going to go with tariffs, so that feels frightening and gripping right now but this time will pass,” Wright said. “Deals will be made, we’ll get certainty and we’ll have a positive economic environment for Americans going forward.”
U.S. crude oil fell more than 1% Monday to close at $66.03 per barrel, while global benchmark Brent closed at $69.28 per barrel. Crude oil futures have pulled back substantially as Trump’s trade policy creates uncertainty and OPEC+ has confirmed that it plans to gradually bring back 2.2 million barrels per day of production beginning next month.
-
Sports2 years ago‘Storybook stuff’: Inside the night Bryce Harper sent the Phillies to the World Series
-
Sports11 months agoStory injured on diving stop, exits Red Sox game
-
Sports1 year agoGame 1 of WS least-watched in recorded history
-
Sports2 years agoMLB Rank 2023: Ranking baseball’s top 100 players
-
Sports3 years ago
Team Europe easily wins 4th straight Laver Cup
-
Environment2 years agoJapan and South Korea have a lot at stake in a free and open South China Sea
-
Environment2 years agoGame-changing Lectric XPedition launched as affordable electric cargo bike
-
Business2 years agoBank of England’s extraordinary response to government policy is almost unthinkable | Ed Conway