Lucid

The Lucid Air is one of the most impressive and expensive EVs on sale today. Its range and acceleration are the stuff of legend, but its price tag means that only the most privileged buyers can get behind the wheel. However, while it’s still quite pricey, the car just got significantly more affordable, and the automaker is offering credits for charging equipment.

Lucid’s Air sedan is one of the most impressive EVs to hit the market yet, and the automaker recently confirmed that it’s only a matter of weeks before we see its next creation. Lucid will pull back the curtain on the Gravity, an ultra-plush electric SUV that promises staggering performance and a deluxe interior.

With inflation and the job market being as challenging as it is today, it shouldn’t come as a surprise that some companies selling high-end products are having difficulty appealing to broad swaths of the American public. Lucid is one such company, and the automaker is coping with a slide in demand by offering less expensive versions of its vaunted – but very pricey – Air sedan.

Lucid Group’s report for the first quarter of 2023 was off the mark, with the automaker suffering a $780-million net loss. While any burgeoning carmaker should expect to burn through cash for a while, electric-vehicle firms seem broadly dedicated to the practice. Many EV startups have floundered and some have even bordered on shell games, promising things they shouldn’t in the hopes to draw in more investment capital. However, Lucid has seemed committed to delivering enviable products — making the financial report genuinely disappointing. 

Though it has earned near-universal praise for its debut sedan, the Air, Lucid is having trouble finding traction with the ultra-expensive EV. Earlier this week, the automaker announced a restructuring effort that involves almost a fifth of its workforce. After a disappointing 2023 production forecast, Lucid is looking to cut costs as uncertain economic times are ahead.

Lucid makes some of the most impressive and powerful EVs, but they aren’t immune to recalls. In fact, the automaker has racked up four such actions on its debut sedan, the Air. The latest has to do with the electric motor contactors, which can open unexpectedly and cause the vehicle to lose power without warning.

We've covered two stories today in which the dealership model comes into play.

Electric-vehicle startup Lucid has sued the state of Texas, saying that the rules around selling cars in the Lone Star state are so restrictive they amount to "economic protectionism."

The North American International Auto Show, aka the Detroit Auto Show, isn’t taking place in January anymore. It’s set for a move to September.

But that didn’t stop the traditional North American Car and Truck of the Year award ceremony from taking place at Cobo Center Huntington Place this morning.