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Lucid Motors is looking to raise $8 billion more in planned mixed shelf offering

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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Luxury electric car maker Lucid Motors is looking to beef up its working capital. To accomplish this, the company filed for a new offering of up to $8 billion earlier this week. The funding should help Lucid keep its operations going as it continues to ramp the production and deliveries of its flagship Air sedan. 

Despite previous statements from company executives, Lucid is currently in what could be described as a “manufacturing hell” of sorts. In the second quarter, Lucid only delivered 679 cars, which was a notable increase from the 360 Air sedans that were delivered in Q1 2022 — but still far below the company’s estimates. 

Lucid’s production outlook has become progressively more conservative. The company had planned to produce 20,000 vehicles in 2022, but amid supply chain challenges, this estimate was reduced to a more feasible 12,000 to 14,000 vehicles. Following its Q2 2022 results, Lucid cut its annual production guidance once more to just 6,000 to 7,000 units for the year. 

Considering that the company is on an uphill climb to get over its production challenges and start delivering the Air sedan en masse, Lucid’s decision to raise funds again makes quite a bit of sense. Lucid filled for a mixed shelf offering, which allows the luxury EV maker to sell various types of securities in one or more separate offerings. According to a Reuters report, the size, price, and terms of the transactions would be determined at the time of sale. 

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Ramping a car company is no joke, so it would not be surprising at all if Lucid ends up raising funds several more times in the future. Other EV makers that have successfully scaled their operations, such as Tesla, have done the same thing. With this in mind, it does appear that Lucid would likely remain fighting an uphill battle, at least for the near future. 

Fortunately, Lucid is quite a realist. CEO Peter Rawlinson has been pretty open about the fact that the company would need to raise money as it ramps its operations. The EV maker has noted that it had already raised the $4.4 billion it needs for 2022, though Rawlinson also mentioned that Lucid would not be waiting until the end of the year to raise more cash. 

Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.com to give us a heads up.

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Simon is an experienced automotive reporter with a passion for electric cars and clean energy. Fascinated by the world envisioned by Elon Musk, he hopes to make it to Mars (at least as a tourist) someday. For stories or tips--or even to just say a simple hello--send a message to his email, simon@teslarati.com or his handle on X, @ResidentSponge.

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Tesla is making two big upgrades to the Model 3, coding shows

According to coding found in the European and Chinese configurators, Tesla is planning to make two big upgrades: Black Headliner offerings and a new 16-inch QHD display, similar to that on the Model Y Performance.

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Credit: Tesla

Tesla is making two big upgrades to the Model 3, one of which is widely requested by owners and fans, and another that it has already started to make on some trim levels of other models within the lineup.

The changes appear to be taking effect in the European and Chinese markets, but these are expected to come to the United States based on what Tesla has done with the Model Y.

According to coding found in the European and Chinese configurators, Tesla is planning to make two big upgrades: Black Headliner offerings and a new 16-inch QHD display, similar to that on the Model Y Performance.

These changes in the coding were spotted by X user BERKANT, who shared the findings on the social media platform this morning:

It appears these new upgrades will roll out with the Model 3 Performance and Tesla’s Premium trim levels of the all-electric sedan.

The changes are welcome. Tesla fans have been requesting that its Model 3 and Model Y offerings receive a black headliner, as even with the black interior options, the headliner is grey.

Tesla recently upgraded Model Y vehicles to this black headliner option, even in the United States, so it seems as if the Model 3 will get the same treatment as it appears to be getting in the Eastern hemisphere.

Tesla Model 3 wins Edmunds’ Best EV of 2026 award

Tesla has been basically accentuating the Model 3 and Model Y with small upgrades that owners have been wanting, and it has been a focal point of the company’s future plans as it phases out other vehicles like the Model S and Model X.

Additionally, Tesla offered an excellent 0.99% APR last week on the Model 3, hoping to push more units out the door to support a strong Q1 delivery figure at the beginning of April.

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SpaceX secures FAA approval for 44 annual Starship launches in Florida

The FAA’s environmental review covers up to 44 launches annually, along with 44 Super Heavy booster landings and 44 upper-stage landings.

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Credit: SpaceX

SpaceX has received environmental approval from the Federal Aviation Administration (FAA) to conduct up to 44 Starship-Super Heavy launches per year from Kennedy Space Center Launch Complex 39A in Florida. 

The decision allows the company to proceed with plans tied to its next-generation launch system and future satellite deployments.

The FAA’s environmental review covers up to 44 launches annually, along with 44 Super Heavy booster landings and 44 upper-stage landings. The approval concludes the agency’s public comment period and outlines required mitigation measures related to noise, emissions, wildlife, and airspace management.

Construction of Starship infrastructure at Launch Complex 39A is nearing completion. The site, previously used for Apollo and space shuttle missions, is transitioning to support Starship operations, as noted in a Florida Today report.

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If fully deployed across Kennedy Space Center and nearby Cape Canaveral Space Force Station, Starship activity on the Space Coast could exceed 120 launches annually, excluding tests. Separately, the U.S. Air Force has authorized repurposing Space Launch Complex 37 for potential additional Starship activity, pending further FAA airspace analysis.

The approval supports SpaceX’s long-term strategy, which includes deploying a large constellation of satellites intended to power space-based artificial intelligence data infrastructure. The company has previously indicated that expanded Starship capacity will be central to that effort.

The FAA review identified likely impacts from increased noise, nitrogen oxide emissions, and temporary airspace closures. Commercial flights may experience periodic delays during launch windows. The agency, however, determined these effects would be intermittent and manageable through scheduling, public notification, and worker safety protocols.

Wildlife protections are required under the approval, Florida Today noted. These include lighting controls to protect sea turtles, seasonal monitoring of scrub jays and beach mice, and restrictions on offshore landings to avoid coral reefs and right whale critical habitat. Recovery vessels must also carry trained observers to prevent collisions with protected marine species.

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Texas township wants The Boring Company to build it a Loop system

The township’s board unanimously approved an application to The Boring Company’s “Tunnel Vision Challenge.”

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Credit: The Boring Company

The Woodlands Township, Texas, has formally entered The Boring Company’s tunneling sweepstakes. 

The township’s board unanimously approved an application to The Boring Company’s “Tunnel Vision Challenge,” which offers up to one mile of tunnel construction at no cost to a selected community.

The Woodlands’ proposal, dubbed “The Current,” features two parallel 12-foot-diameter tunnels beneath the Town Center corridor near The Waterway. Teslas would shuttle passengers between Waterway Square, Cynthia Woods Mitchell Pavilion, Town Green Park and nearby hotels during concerts and large-scale events, as noted in a Chron report.

Township officials framed the tunnel as a solution for the township’s traffic congestion issues. The Pavilion alone hosts more than 60 shows each year and can accommodate crowds of up to 16,500, often straining Lake Robbins Drive and surrounding intersections.

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“We know we have traffic impacts and pedestrian movement challenges, especially in the Town Center area,” Chris Nunes, chief operating officer of The Woodlands Township, stated during the meeting.

“The Current” mirrors the Loop system operating beneath the Las Vegas Convention Center, where Tesla vehicles transport passengers through underground tunnels between venues and resorts.

The Boring Company issued its request for proposals (RFP) in mid-January, inviting cities and districts to pitch local uses for its tunneling technology. The Woodlands must submit its application by Feb. 23, though no timeline has been provided for when a winning community will be announced.

Nunes confirmed that the board has authorized a submission for “The Current’s” proposal, though he emphasized that the project is still in its preliminary stages.

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“The Woodlands Township Board of Directors has authorized staff to submit an application to The Boring Company, which has issued an RFP for communities interested in leveraging their technology to address community challenges,” he said in a statement. 

“The Board believes that an underground tunnel would provide a safe and efficient means to transport people to and from various high-use community amenities in our Town Center.”

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