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Lucid NACS adoption ‘must have been a bitter pill to swallow’: Elon Musk

Credit: Lucid Group

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Lucid Motors has joined several automakers in adopting Tesla’s North American Charging Standard (NACS), just months after its CEO said it wouldn’t switch unless higher-voltage charging architecture was unveiled. Following Lucid’s announcement of plans to adopt the standard this week, Tesla CEO Elon Musk pointed out that the switch was probably a little difficult for Lucid’s CEO to accept after some of his past statements.

On Tuesday, Lucid announced it would be adopting Tesla’s NACS, giving its drivers access to the Supercharger network as soon as 2025. Like other automakers, the company will build Tesla’s charging port into its electric vehicles (EVs) starting in 2025, and it plans to offer adapters to those with the current Combined Charging System (CCS) hardware in the same year — both of which will enable its cars to charge at Tesla’s Superchargers.

Following the announcement, Musk commented on X that the adoption of Tesla’s standard “must have been a bitter pill to swallow,” especially after the automaker’s CEO recently suggested that the charging port didn’t matter.

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The news comes after Lucid CEO Peter Rawlinson dodged questions about switching to the standard in June, adding that the plug mattered less than high-voltage charging infrastructure. In the months since, a slew of other automakers have also adopted the charging hardware, and Tesla has been deploying new technology, including higher-voltage charging hardware on one upcoming vehicle along with Superchargers sporting higher overall charging capacities.

During Tesla’s third-quarter earnings call last month, the automaker confirmed previous rumors that the Cybertruck will include 800-volt charging architecture, offering faster charging and better overall efficiency. In the U.S. and beyond, Tesla has also been deploying its V4 Superchargers, which offer a charging rate of 350 kW compared to the 250 kW rate offered by V3 chargers.

While neither of the developments from Tesla quite hit Rawlinson’s original demand for a 1,000-volt Supercharger, something about the past few months has obviously changed his mind from thinking the NACS was just a “plastic plug with some copper in it.”

It also comes ahead of Lucid’s Q3 earnings call, set to be reported at 5:30 p.m. ET on Tuesday. You can see top investor questions ahead of the call here, the first of which is a question about how and when the automaker will become profitable.

Last month, Lucid reported a miss on analyst delivery estimates for the third quarter, and the automaker said that it was unlikely to reach its already-lowered 2023 production goal of 10,000 units.

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Tesla officially opened the NACS design to other automakers just under a year ago, as detailed by the automaker in a blog post.

With the exception of the startup Aptera, which was an early adopter of the equipment, details surrounding Tesla’s opening of the NACS hardware remained quiet for several months after its announcement. In May, however, Ford CEO Jim Farley broke the silence by announcing plans to adopt the standard in May during a call on X with Musk. Since then, nearly every major and startup automaker has joined the list of companies adopting the standard.

First production Lucid Air Sapphire rolls off the assembly line in AZ

What are your thoughts? Let me know at zach@teslarati.com, find me on X at @zacharyvisconti, or send your tips to us at tips@teslarati.com.

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Zach is a renewable energy reporter who has been covering electric vehicles since 2020. He grew up in Fremont, California, and he currently lives in Colorado. His work has appeared in the Chicago Tribune, KRON4 San Francisco, FOX31 Denver, InsideEVs, CleanTechnica, and many other publications. When he isn't covering Tesla or other EV companies, you can find him writing and performing music, drinking a good cup of coffee, or hanging out with his cats, Banks and Freddie. Reach out at zach@teslarati.com, find him on X at @zacharyvisconti, or send us tips at tips@teslarati.com.

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Waymo temporarily halts service in select San Francisco and LA areas amid protests

The suspensions came after several Waymo Jaguar I-Pace robotaxis were vandalized and set ablaze during the demonstrations.

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Credit: ABC7/YouTube

Waymo, Alphabet’s autonomous vehicle subsidiary, has suspended its driverless taxi operations in parts of Los Angeles and San Francisco amid violent protests linked to U.S. Immigration and Customs Enforcement (ICE) raids in the state. 

The suspensions came after several Waymo Jaguar I-Pace robotaxis were vandalized and set ablaze during the demonstrations.

Waymo Catches Strays Amid Anti-ICE Protests

Protests erupted in Los Angeles and San Francisco in response to the Trump administration’s immigration raids, which ultimately resulted in California Governor Gavin Newsom calling the White House’s deployment of National Guard troops unconstitutional. 

Amidst the protests, images and videos emerged showing several Waymo robotaxis being defaced and destroyed. At least five Waymo robotaxis ended up being caught in the crossfire, and at least one vehicle ended up being burned to the ground. 

The incident resulted in the Los Angeles Police Department advising people to avoid downtown areas due to toxic fumes from the robotaxis’ burning lithium-ion batteries. As noted in a KRON4 report, Waymo ultimately halted service in affected areas “out of an abundance of caution.”

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Robotaxi Sentiments

The cost of the attacks is notable. Each Waymo robotaxi is valued between $150,000 and $200,000, per a 2024 Wall Street Journal report. Interestingly enough, this is not the first time that Waymo’s robotaxis ended up on the receiving end of angry protesters. On February 24, a Jaguar I-PACE robotaxi was set ablaze and vandalized by a crowd in San Francisco. Videos taken at the time showed a mob of people attacking the vehicle. 

Despite the recent attacks on its robotaxis, Waymo has stated it has “no reason to believe” its vehicles were specifically targeted during the protests, as per a report from The Washington Post. A company spokesperson also noted that some of the Waymo robotaxis that were defaced and destroyed during the violent demonstrations had been completing drop-offs near the protest zones.

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Investor's Corner

xAI targets $5 billion debt offering to fuel company goals

Elon Musk’s xAI is targeting a $5B debt raise, led by Morgan Stanley, to scale its artificial intelligence efforts.

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(Credit: xAI)

xAI’s $5 billion debt offering, marketed by Morgan Stanley, underscores Elon Musk’s ambitious plans to expand the artificial intelligence venture. The xAI package comprises bonds and two loans, highlighting the company’s strategic push to fuel its artificial intelligence development.

Last week, Morgan Stanley began pitching a floating-rate term loan B at 97 cents on the dollar with a variable interest rate of 700 basis points over the SOFR benchmark, one source said. A second option offers a fixed-rate loan and bonds at 12%, with terms contingent on investor appetite. This “best efforts” transaction, where the debt size hinges on demand, reflects cautious lending in an uncertain economic climate.

According to Reuters sources, Morgan Stanley will not guarantee the issue volume or commit its own capital in the xAI deal, marking a shift from past commitments. The change in approach stems from lessons learned during Musk’s 2022 X acquisition when Morgan Stanley and six other banks held $13 billion in debt for over two years.

Morgan Stanley and the six other banks backing Musk’s X acquisition could only dispose of that debt earlier this year. They capitalized on X’s improved operating performance over the previous two quarters as traffic on the platform increased engagement around the U.S. presidential elections. This time, Morgan Stanley’s prudent strategy mitigates similar risks.

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Beyond debt, xAI is in talks to raise $20 billion in equity, potentially valuing the company between $120 billion and $200 billion, sources said. In April, Musk hinted at a significant valuation adjustment for xAI, stating he was looking to put a “proper value” on xAI during an investor call.

As xAI pursues this $5 billion debt offering, its financial strategy positions it to lead the AI revolution, blending innovation with market opportunity.

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SpaceX to debut new Dragon capsule in Axiom Space launch

Ax-4’s launch marks the debut of SpaceX’s latest Crew Dragon and pushes Axiom closer to building its own space station.

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(Credit: SpaceX)

Axiom Space’s Ax-4 mission targets the International Space Station (ISS) with a new SpaceX Crew Dragon capsule.

The Axiom team will launch a new SpaceX Dragon capsule atop a Falcon 9 rocket from NASA’s Kennedy Space Center in Florida on Wednesday at 8:00 a.m. EDT (1200 GMT). The Ax-4 mission launch was initially set for Tuesday, June 10, but was delayed by one day due to expected high winds.

As Axiom Space’s fourth crewed mission to the ISS, Ax-4 marks the debut of an updated SpaceX Crew Dragon capsule. “This is the first flight for this Dragon capsule, and it’s carrying an international crew—a perfect debut. We’ve upgraded storage, propulsion components, and the seat lash design for improved reliability and reuse,” said William Gerstenmaier, SpaceX’s vice president of build and flight reliability.

Axiom Space is a Houston-based private space infrastructure company. It has been launching private astronauts to the ISS for research and training since 2022, building expertise for its future station. With NASA planning to decommission the ISS by 2030, Axiom has laid the groundwork for the Axiom Station, the world’s first commercial space station. The company has already begun construction on its ISS replacement.

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The Ax-4 mission’s research, spanning biological, life, and material sciences and Earth observation, will support this ambitious goal. Contributions from 31 countries underscore the mission’s global scope. The four-person crew will launch from Launch Complex 39A, embarking on a 14-day mission to conduct approximately 60 scientific studies.

“The AX-4 crew represents the very best of international collaboration, dedication, and human potential. Over the past 10 months, these astronauts have trained with focus and determination, each of them exceeding the required thresholds to ensure mission safety, scientific rigor, and operational excellence,” said Allen Flynt, Axiom Space’s chief of mission services.

The Ax-4 mission highlights Axiom’s commitment to advancing commercial space exploration. By leveraging SpaceX’s Dragon capsule and conducting diverse scientific experiments, Axiom is paving the way for its Axiom Station. This mission not only strengthens international collaborations but also positions Axiom as a leader in the evolving landscape of private space infrastructure.

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