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Lucid is expanding into Europe with two Air Dream Edition trim levels

Lucid today announced its initial launch plans for the European market, including the forthcoming availability of both versions of Lucid Air Dream Edition with the most advanced electric powertrain available today. The Dream Edition R is optimized for efficiency with an estimated 900 km of range, and the Dream Edition P features 1,111 horsepower (828 kW).

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Lucid Group (NASDAQ: LCID) announced its initial launch plans for the European market today, which will be marked by the forthcoming availability of two configurations of the automaker’s Air Dream Edition sedan.

Lucid said it would release the Air Dream Edition R, optimized for efficiency with 900 kilometers, or 559 miles, of range, and the Dream Edition P, which features 1,111 horsepower. Lucid said it would also open its first European retail location at Odeonsplatz in Munich, Germany on May 13.

“The expansion into Europe and the decision to offer Lucid Air Dream Edition in this market serve to strengthen Lucid’s position as a global brand and further supports our mission to elevate the standards of the electric vehicle industry,” Zak Edson, Vice President of Sales and Service for Lucid Group, said. “The company’s first offering, Lucid Air Dream Edition, delivers 0-100 km acceleration in 2.7 seconds or an estimated 900 km* of range on a single charge, along with a 924 V electrical architecture for impressive fast charging – all the performance, the quality, and the range that make it perfectly suited for the European market.”

Lucid’s first European retail location – the Lucid Studio at Odeonsplatz in Munich, Germany – is a luxury retail space that invites customers to experience the brand and its products in the heart of the iconic old town area. The company expects to open additional studios and service centers in Germany, the Netherlands, Norway, and Switzerland in 2022, and has the ambition to expand into additional key markets across the European continent in the coming years.

Lucid launched the Edition R and Edition P Air Dream Edition sedans in North America with a limited launch of only 520 units. Lucid said it would offer a “very limited number” of these trim levels to existing reservation holders in Europe to celebrate the European launch of the car. It will be offered to reservation holders in Germany, The Netherlands, Norway, and Switzerland.

Dream Edition P

  • Dual Motor AWD Powertrain
  • 1,111 Horsepower
  • 7 seconds 0-60 MPH
  • 77 MPH Top Speed
  • Specially developed Pirelli P-Zero tires – 245935 21” Front and 265/35 21” Rear, 19” optional

Dream Edition R

  • Dual Motor AWD Powertrain
  • 933 Horsepower
  • 9 seconds 0-60 MPH
  • 77 MPH Top Speed
  • Specially developed Pirelli P-Zero tires – 245/45 19”, 21” optional

Both the Lucid Air Dream Edition P and R will be priced differently in each country:

  • Germany – €218,000
  • Netherlands – €222,000
  • Switzerland – CHF 199,000
  • Norway -NOK 1,850,000

First deliveries are expected to begin in late 2022, Lucid said. Pricing for Lucid’s other Air trim levels, including the Pure, Touring, and Grand Touring, will be announced later this year. Prices are expected to start at approximately €100,000 for the Air Pure in Germany and the Netherlands, CHF 100,000 in Switzerland, and NOK 1,000,000 in Norway.

Lucid currently accepts reservations for its products in Austria, Belgium, Denmark, Finland, France, Germany, Iceland, Italy, Monaco, the Netherlands, Norway, Spain, Sweden, Switzerland, and the United Kingdom. Reservation holders are required to put down a €300 deposit to secure their place in line. These markets were specifically chosen due to charging infrastructure, market acceptance, and size, Lucid said. It also plans to expand into more European regions in the future and plans to build additional sales studios in major European cities, as well as develop a right-hand-drive model for the UK.

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Lucid Group reported its earnings for Q1 2022 last week, indicating it would have to increase prices due to rising raw material costs and supply chain challenges.

I’d love to hear from you! If you have any comments, concerns, or questions, please email me at joey@teslarati.com. You can also reach me on Twitter @KlenderJoey, or if you have news tips, you can email us at tips@teslarati.com.

Joey has been a journalist covering electric mobility at TESLARATI since August 2019. In his spare time, Joey is playing golf, watching MMA, or cheering on any of his favorite sports teams, including the Baltimore Ravens and Orioles, Miami Heat, Washington Capitals, and Penn State Nittany Lions. You can get in touch with joey at joey@teslarati.com. He is also on X @KlenderJoey. If you're looking for great Tesla accessories, check out shop.teslarati.com

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Elon Musk

Tesla CEO Elon Musk teases Optimus job that’s straight out of Robocop

“If somebody’s committed a crime, we might be able to provide a more humane form of containment of future crime. You now get a free Optimus, and it’s just going to follow you around and stop you from doing crime.”

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Credit: @heydave7/X

Tesla CEO Elon Musk teased a potential job for the company’s Optimus robot last week that is straight out of the movie “Robocop.”

“Robocop” aimed to show a futuristic look at law enforcement in a Sci-fi thriller that was among the first iterations of how robots could be used for police work.

The 1987 film showcased an injured cop turning into an armed cyborg, and although Tesla’s Optimus won’t be a human-robot hybrid, Musk’s idea for the humanoid project is similar.

Musk said last week at the Annual Shareholder Meeting, where shareholders voted to approve his $1 trillion compensation plan, that Optimus could be the future of law enforcement, nearly revolutionizing the way criminals are prosecuted.

He hinted that Optimus could actually be used as a chaperone of sorts, arguing that it was a “more humane form of containment of future crime.” Musk said:

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“If somebody’s committed a crime, we might be able to provide a more humane form of containment of future crime. You now get a free Optimus, and it’s just going to follow you around and stop you from doing crime. Other than that, you get to do anything; it’s just going to stop you from committing crime. That’s really it. You don’t have to put people in prisons and stuff. It’s pretty wild to think of all the possibilities, but I think it’s clearly the future.”

Musk’s overall idea for Optimus is to change the way people are able to exist, from those law-abiding citizens to others who have their run-ins with the law. Instead, the Tesla CEO believes there could be a different way to handle everything, including punishment.

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It was not the only thing that Musk indicated could be changed significantly by the presence of humanoid robots, as he also said a universal basic income could be established with the help of products like Optimus.

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Elon Musk

Elon Musk teases huge merger: ‘Trending towards convergence’

“My companies are, surprisingly in some ways, trending towards convergence.”

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Elon Musk recently amplified the thoughts of Morgan Stanley analyst Adam Jonas, who had insight into the “Muskonomy” of his potentially interconnected ventures, something that was proposed at the recent Tesla Shareholder Meeting with xAI.

Musk’s words indicate a potential strategic fusion that could serve as a blueprint for future innovation–but it is dependent on a conglomeration between the many entities the CEO serves.

As Tesla grapples with scaling Optimus and preparing for its imminent production and the development of the Full Self-Driving suite, xAI’s computational edge could provide leverage for the millions of miles of data the company accumulates, providing a more stable and accurate development strategy for the autonomous and AI efforts it has put its chips all in on.

After Tesla Shareholders voted to deny Tesla and xAI’s potential financial partnership through an investment, Jonas said it was an issue that would have to be revisited due to its importance.

xAI has the opportunity to provide an incredible strategic and financial bolstering to Tesla, especially with how important a role data plays in the development of the company’s biggest products.

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Jonas wrote in a note to investors:

“They’re gonna have to revisit this. We don’t think investors understand just how important xAI is to Tesla and the broader Muskonomy. Tesla’s relationship with xAI (financially and strategically) is deterministic to the long-term success of Tesla due in part to the natural synergies of data, software, hardware, and manufacturing in recursive loops. The values (and value systems) of both Tesla and xAI are endowed by the values of their shared creator. We believe this co-determination becomes more obvious in the next phases of physical AI/ autonomy for Tesla in the year ahead.”

Musk said, in response to Jonas’ note, that his companies are “surprisingly in some ways, trending toward convergence.”

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Mergers and shared ecosystems between companies are not new moves out of Musk’s playbook, as it has been done in the past, especially with Tesla acquiring other entities.

It did it with SolarCity in 2016 and with Maxwell Technologies in 2019. Investments between Musk companies have occurred before, too, as SpaceX dumped $2 billion into xAI last July.

He’s also said on several occasions that he could eventually bring everything together into some sort of single entity. In July 2024, he said:

“I’m not opposed to the idea in principle, but I’m not sure there is a pragmatic or legal way to merge them. There is also value in equity incentives of people at the companies being tied to that company’s accomplishments.”

This point is especially relevant now with Musk’s recently approved compensation package.

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He also said in June, during an interview with CNBC , that “It’s not out of the question” for xAI to merge with Tesla, but it would have to be approved by shareholders. Just a few days later, he said he would not support xAI merging with Tesla; however, he put it in investors’ hands.

It’s more than just a deal; it’s symbiotic. Musk being at the helm of various companies, all intertwined with one another, helps foster recursive innovation. Despite these advantages, there are still a handful of things to consider, especially from a regulatory perspective.

However, it is not competition; it’s convergence. In Musk’s universe, especially from a business sense, mergers are not endpoints, but instead launchpads for ambitions that aim to take each company from Earth to lands beyond our atmosphere.

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Elon Musk

Tesla makes Elon Musk’s new compensation package official

This is an important thing to note, as much of the media coverage regarding Musk’s pay package seems to indicate that the company and the shareholders are simply giving the CEO the money. He has to come through on each of these tranches to unlock the $1 trillion.

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Credit: @JoeTegtmeyer/X

Tesla has made CEO Elon Musk’s new compensation package official, as it filed a Form 4 with the Securities and Exchange Commission (SEC) on Monday.

The package officially gives Musk the opportunity to acquire over 423 million shares of Tesla stock (NASDAQ: TSLA), dependent on his ability to achieve twelve performance-based tranches that will bring growth to the company and its shareholders.

Tesla (TSLA) shareholders officially approve Elon Musk’s 2025 performance award

Musk’s new compensation package was approved by investors last Thursday at the company’s Annual Shareholder Meeting, as over 75 percent of voters supported the CEO’s new plan, which could be valued at over $1 trillion if he is able to come through on all twelve tranches.

The twelve tranches include growth goals related to vehicle deliveries, the Optimus humanoid robot project, and Tesla’s valuation. If Musk is able to achieve each tranche, he would help Tesla achieve an over $8 trillion market cap.

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The 12 tranches include:

  1. $2 trillion market cap + Deliver 20 million Tesla vehicles cumulatively
  2. $2.5 trillion market cap + Reach 10 million active Full Self-Driving (FSD) subscriptions
  3. $3 trillion market cap + Deliver 1 million Optimus humanoid robots
  4. $3.5 trillion market cap + Operate 1 million Robotaxis commercially
  5. $4 trillion market cap + Hit $50 billion in adjusted EBITDA (earnings before interest, taxes, etc.)
  6. $4.5 trillion market cap + Hit $80 billion in adjusted EBITDA
  7. $5 trillion market cap + Hit $130 billion in adjusted EBITDA
  8. $5.5 trillion market cap + Hit $210 billion in adjusted EBITDA
  9. $6 trillion market cap + Hit $300 billion in adjusted EBITDA
  10. $6.5 trillion market cap + Hit $400 billion in adjusted EBITDA
  11. $7.5 trillion market cap + Hit $400 billion in adjusted EBITDA for four straight quarters in a row
  12. $8.5 trillion market cap + Hit $400 billion in adjusted EBITDA for four straight quarters in a row

Achieving the twelve levels of the new compensation package would also give Musk what he’s really after: a larger ownership share in Tesla, which would help him achieve more control, something he feels is necessary for the rollout of the Optimus robot “army.”

Musk does not earn a dime if he does not achieve any of the tranches above.

This is an important thing to note, as much of the media coverage regarding Musk’s pay package seems to indicate that the company and the shareholders are simply giving the CEO the money. He has to come through on each of these tranches to unlock the $1 trillion.

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