#Lucid

I've been in the automotive media since late in 2007, and over the course of all that time, I've seen EV-focused startups come and go. Some went and came back, even.

It was gloomy when I landed in Los Angeles last week. Gloomy enough that it put me in a sour mood -- despite living in the Midwest, I like sun.

The same cloud cover that prevented me from getting a view of the city upon approach to LAX painted downtown in a shade of grey that would be right at home in some depressing movie about urban malaise.

Then, on Thursday, the sun came out. Just in time for this year's sole media day.

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. 

Reuters is out with a report today showing that while the industry continues to make a strong effort to transition to electric vehicles, the ride won't be smooth, especially for investors.

Startup electric automakers are facing a series of crises that could cripple them financially and make it hard to grow in any meaningful way in the future. Inflation and incredible jumps in raw materials costs have led companies like Rivian and Lucid to lose staggering sums of money over the last year. 

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."

Here's a brain buster for you: Let's say you woke up tomorrow flush with cash. More than you could possibly ever spend. So you decided to invest of some of it. Knowing EVs are poised to become a larger part of the automotive market, you bet on a startup.

Which one do you choose?

You can say what you want about Lucid Motors and their upcoming Air luxury sedan, but you can’t call their PR team “shy”.

“An absolute triumph of efficiency,” reads the headline. “Lucid Air achieves 520 miles of range … besting the closest competition by over 100 miles.”

Think about that. There is a fast, comfortable electric car that will go a full five-hundred and twenty miles before you need to stop and plug it in. As Jasper said when he stepped out the Kwik-E-Mart freezer, “What a time to be alive.”

But, like, do you really even want an electric car that can go 520 miles? The more I stare at that figure, the more I think the answer to that question is: Maybe I don’t.

Production of the 2022 Lucid Air started this week, adding another automaker to the North American roster. The manufacturer held an event on September 28th, inviting Arizona Governor Doug Ducey, relevant executives, big-time investors, select media outlets, and customers who dropped $170,000 to purchase the limited Dream Edition of the electric vehicle.

While often framed as a Tesla ripoff, Lucid Motors has been setting its sights so high that it hardly feels like a fair assessment. Because the Air is offering one of the most impressive all-electric spec sheets in the industry right now and should probably worry the competition.

Lucid has two new versions of the limited-edition Dream Edition in queue — one that focuses on power and one that focuses on range.

Naturally, their names reflect this focus — they are the Dream Edition Performance and Dream Edition Range.

“The times they are a-changin’” sang Bob Dylan in the early 1960s. The legacy of the song can be seen as to how, no matter the year, it always finds a way to relate to contemporary life.

Take electric vehicles, for example. In just a decade, electric vehicles went from almost non-existent to Tesla selling hundreds of thousands each year. Furthermore, numerous global automakers have released their own EVs and/or pledged to have their entire model lineup be exclusively electrified by the end of the current decade.

If you think the political class is interested in what kind of policies citizens would like to see implemented, you’ve clearly never heard of lobbying groups. While we’re stuck at home writing thoughtful letters to congressional interns in the faintest hope that they’ll be dictated to a senator, corporately supported lobbyists are taking legislators out to dinner so they can discuss how best to govern on a single issue. They’re important in determining the trajectory of the nation but many get criticized for placing the needs of the business over that of the individual voter.

Buckle up, because we’re getting another one. On Tuesday, the Zero Emission Transportation Association (ZETA) held its own coming-out party and announced its mission to advocate for “national policies that will enable 100 [percent] electric vehicle sales throughout the light-, medium-, and heavy-duty sectors by 2030.”

The New York Times, or one writer paid by the New York Times (one journalist’s take or analysis or opinion doesn’t represent the entire paper, you know), had a piece out a couple days ago claiming the dawn of the EV age is now.

Somehow, I missed this article until now. But let’s a look at its assertions, shall we, and see what is and is not accurate?

Minus an unpleasant amount of virtue signaling, the Lucid Air debut was pretty good. But this is technically a commercial so what else could we have possibly expected? Lucid is an electric vehicle brand so it’s required by law to succumb to the growing list of EV clichés. Building this car the way Lucid does won’t just be better for the environment, “it will be better for all mankind.” We need to rally together because the world is ending. This startup is changing by building an extravagant automobile — that was the gist of the presentation anyway.

“We’re a California company,” explained the car’s interior designer. The Golden State was apparently so important that the interior color palates are based entirely on the way the sun plays off California’s various regions at different times of the day. They even held the event on the state’s birthday and made sure to mention it.

You get the idea. It started out a complete drag. And yet the car itself was quite interesting and the technical portions of the presentation excelled at explaining why someone might actually want this car over literally everything else that’s on the market right now.