Connect with us
Lucid-chief-operating-officer-first Lucid-chief-operating-officer-first

News

Lucid plans for Tesla Model 3 and Y competitor at ‘lower cost’

(Credit: Lucid)

Published

on

Lucid said it is planning to launch an electric vehicle that will be priced at a lower cost to compete with the Tesla Model 3 and Model Y, but where the company plans to price it seems interesting.

Lucid has been building EVs since 2021 when it unveiled the Air lineup. With lower costs and more customization planned for next year with that model, it also plans to roll out the Gravity SUV in the coming years.

The high costs associated with early EV models align with what industry leader Tesla did in the late 2000s with the original Roadster. The early vehicles are somewhat of a fundraiser for later projects and have led to subsequent models with slightly lower price points than previously.

Lucid Gravity SUV unveiled: 440+ miles of range, under $80k, late 2024 production

That is essentially Lucid’s gameplan, according to CEO Peter Rawlinson’s recent interview with Autocar, as it will launch an EV that is a lower cost than previous models but not quite as low as many would expect.

Advertisement

Rawlinson said that Lucid has “to go with volume, because that’s what we’re about.”

But it said that its price point is $50,000, or roughly £40,000, which would be a lower cost than what it offers for the Air sedan, but would still be priced higher than the most affordable versions of Tesla’s Model 3 or Model Y.

Bringing costs down to $50,000 for Lucid would be a big move for them, but it also would have its least expensive vehicle going up against Tesla’s most expensive versions of its volume vehicles. On top of that, Rawlinson said that, while Lucid has already started working on the vehicle, it will not come until after 2025.

Tesla, along with other companies, will likely have more affordable vehicles by then. Tesla could have its $25,000 EV unveiled and on its way to production. Other companies, like Rivian, Ford, and GM, which has already unveiled a sub-$30,000 EV in the Chevy Bolt, will also likely have more affordable options by that time.

Tesla mega-bull Ron Baron has an aggressive timeline for $25k EV

Advertisement

Lucid is reaching for a more luxury car buyer base, and people know they will pay a premium for its vehicles. However, $50,000 might be a price that is simply too high for some to consider, especially as competitors that have already shown their cars are efficient and robust in terms of tech will be unveiling new, perhaps revolutionary, products by the time Lucid is just getting to offer its first “affordable” EV.

While the Model 3 and Model Y could hypothetically be priced the same as today when Lucid’s mass-market EV comes out (although we feel it is probably a lofty expectation), Rawlinson said it has a few things to offer that Tesla cannot.

“…we’ve got the most advanced technology, which means we can go farther with less battery, and the battery is the most high-cost item of an electric car. So if you can go a certain distance with less battery, you can make that car more cheaply than anyone else.”

Lucid will also eventually end up in the United Kingdom, and Lucid will “totally” offer models outside of the Air in the region.

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.

Advertisement

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

Advertisement
Comments

Elon Musk

Tesla Full Self-Driving gets an offer to be insured for ‘almost free’

“If @elonmusk is game, we’d be happy to explore insuring Tesla FSD miles for (almost) free.”

Published

on

Credit: Tesla

Tesla Full Self-Driving just got an insurance offer from Lemonade Co-founder and President Shai Wininger that might be too good to pass up, as he wants to insure vehicles on FSD for “almost free.”

Traditionally, Tesla vehicles are slightly more expensive to insure with traditional companies because of higher repair costs that stem from their technology and state-of-the-art structural battery design.

However, the development of the Full Self-Driving suite by Tesla has certainly pulled some tech entrepreneurs and others to believe the vehicles should be much cheaper to insure.

While there are certainly people on both sides of the spectrum, a handful of notable tech figures believe the data shows that Teslas operating on FSD are safer than human drivers.

Tesla Q2 2025 vehicle safety report proves FSD makes driving almost 10X safer

Advertisement

One of the tech figures who believes that is Shai Wininger, President and Co-founder of Lemonade, an insurance company that has nearly two million customers.

On X, Wininger recently announced the direct integration with Tesla vehicles that would roll out to Lemonade customers. The integration would “remove the need for a UBI device in our Pay Per Mile product. This makes activating Lemonade Car on Teslas effortless and lets us cut hardware and shipping costs, helping lower prices for Tesla drivers even further.”

He said the Tesla API complemented Lemonade’s platform because it provides “richer and more accurate driving behavior data than traditional UBI devices.”

He then proposed an idea to CEO Elon Musk, stating that Lemonade would “be happy to explore insuring Tesla FSD miles for (almost) free.”

It would provide Tesla drivers with stable and accurate insurance, while also incentivizing owners to utilize the Full Self-Driving suite for their miles, making the semi-autonomous driving platform extremely cost-effective to use.

Wininger said it would be available in states where Tesla’s in-house insurance program is not available. Tesla Insurance is available in twelve states, and is looking to expand in Florida, as we reported earlier this week. However, it has not expanded to a new state in about three years.

The thought of Lemonade being able to insure FSD miles for almost nothing is an extremely attractive offer from Wininger, and could potentially be a new outlet to make Teslas even less expensive to own and operate throughout their lifetime.

Advertisement
Continue Reading

Elon Musk

Tesla CEO Elon Musk’s $1 trillion pay package hits first adversity from proxy firm

ISS said the size of the pay package will enable Musk to have access to “extraordinarily high pay opportunities over the next ten years,” and it will have an impact on future packages because it will “reduce the board’s ability to meaningfully adjust future pay levels.”

Published

on

tesla elon musk

Tesla CEO Elon Musk’s $1 trillion pay package, which was proposed by the company last month, has hit its first bit of adversity from proxy advisory firm Institutional Shareholder Services (ISS).

Musk has called the firm “ISIS,” a play on its name relating it to the terrorist organization, in the past.

The pay package aims to lock in Musk to the CEO role at Tesla for the next decade, as it will only be paid in full if he is able to unlock each tranche based on company growth, which will reward shareholders.

Advertisement

However, the sum is incredibly large and would give Musk the ability to become the first trillionaire in history, based on his holdings. This is precisely why ISS is advising shareholders to vote against the pay plan.

The group said that Musk’s pay package will lock him in, which is the goal of the Board, and it is especially important to do this because of his “track record and vision.”

However, it also said the size of the pay package will enable Musk to have access to “extraordinarily high pay opportunities over the next ten years,” and it will have an impact on future packages because it will “reduce the board’s ability to meaningfully adjust future pay levels.”

The release from ISS called the size of Musk’s pay package “astronomical” and said its design could continue to pay the CEO massive amounts of money for even partially achieving the goals. This could end up in potential dilution for existing investors.

If Musk were to reach all of the tranches, Tesla’s market cap could reach up to $8.5 trillion, which would make it the most valuable company in the world.

Advertisement

Tesla has made its own attempts to woo shareholders into voting for the pay package, which it feels is crucial not only for retaining Musk but also for continuing to create value for shareholders.

Tesla launched an ad for Elon Musk’s pay package on Paramount+

Musk has also said he would like to have more ownership control of Tesla, so he would not have as much of an issue with who he calls “activist shareholders.”

Continue Reading

News

Tesla is adding an interesting feature to its centerscreen in a coming update

In a recent dissection of coding, Tesla hacker green noticed that the company is bringing in screenshare with Software Update 2025.38

Published

on

Credit: Tesla

Tesla is adding an interesting feature to its center touchscreen in a coming update, according to a noted hacker.

In a recent dissection of coding, Tesla hacker green noticed that the company is bringing in screenshare with Software Update 2025.38. Details on the use case are slim, but he said the feature would export the car screen so it could be viewed remotely.

It would bring up a notification on the screen, along with a four-digit pin that would link the two together:

Advertisement

As previously mentioned, the use case is unclear, but there are some ideas. One of which is for remote support, which is something Apple has used to help resolve issues with its products.

Support staff and employees routinely tap into customers’ screens to help resolve issues, so this could be a way Tesla could also use it.

This seems especially relevant with Robotaxi, as the screen might be a crucial part of resolving customer complaints when there is no employee in the car.

Additionally, it seems as if it will not be exclusive to those owners who have newer vehicles that utilize the AMD chip. Intel will get support with the new feature as well, according to what green has noticed in the coding.

Finally, it could also be used with all sorts of content creation, especially as Full Self-Driving videos and what the vehicle sees in Driver Visualization.

Advertisement

As it is released, Tesla will likely release more information regarding what the screensharing mode will be used for.

For right now, many owners are wondering where it could actually work and what advantages it will offer for owners as well as the company itself.

Continue Reading

Trending