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

(Credit: Lucid)

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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.

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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

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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.

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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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Nikola Motor founder Trevor Milton given full pardon by President Trump

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Credit: Nikola Motor

Nikola Motor founder Trevor Milton has been given a full pardon by U.S. President Donald Trump in an unprecedented turn of events.

Trevor Milton Media announced late Thursday that the formerly jailed founder of the all-electric automaker that President Trump had “pledged to end the political weaponization of the Justice Department. This pardon marks a step toward fulfilling that commitment.”

Milton was sentenced to four years in prison in December 2023 after being found guilty of multiple counts of fraud.

Nikola founder Trevor Milton sentenced to four years in prison

“I was not a very seasoned CEO,” Milton said after his sentencing. Questions about the legitimacy of some Nikola product demonstrations and several statements that were found to be misleading regarding the company’s progress on its vehicles brought Milton to U.S. Federal Court to face two counts of wire fraud and one count of securities fraud.

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Now, he is free.

Milton said in a statement:

“This pardon is not just about me—it’s about every American who has been railroaded by the government, and unfortunately, that’s a lot of people. It is no wonder why trust and confidence in the Justice Department has eroded to nothing. I wish judges would stop believing whatever the prosecutors feed them so Americans could trust the justice system again. Until that happens, our justice system will continue to erode until there is nothing left. The 90+% conviction rate in New York is appalling and is a result of prosecutors getting whatever they want and putting innocent people in prison. I saw firsthand the tactics they use to achieve those guaranteed convictions. I am incredibly grateful to President Trump for his courage in standing up for what is right and for granting me this sacred pardon of innocence.”

Milton will now launch a documentary that is available for preview here.

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Tesla vandal who lit Las Vegas repair center on fire arrested

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A vandal in Las Vegas who lit a Tesla repair center on fire has been arrested, bringing a name and face to the crime that engulfed vehicles and a structure in flames.

Officers in Las Vegas arrested Paul Kim, a 36-year-old, on Wednesday. He faces charges of arson and possessing an explosive device.

The Tesla repair center at 6260 West Badura Avenue was set aflame on March 18 at around 2:45 a.m. In total, five vehicles were set on fire, as well as the building itself. It was one of the more notable instances of vandalism against Tesla in recent months, but police now have their culprit.

Las Vegas Metro Police Department Sheriff Dori Koren described the weapons Kim used to execute the attack:

“He used what appeared to be multiple Molotov cocktails and firearms to conduct his attack.”

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As the instances of attacks on Tesla continue to be publicized, we are now seeing considerable pushback from owners, the company, and even the United States government regarding what it calls “domestic terrorism.”

Owners are now filing lawsuits against those who vandalize their vehicles, as the first civil suit against a vandal was filed in Texas yesterday.

Tesla has not made any moves itself against the vandals, but we expect the company to potentially enter some litigation against groups or politicians that incite violence against its property and the owners of its vehicles.

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Additionally, the U.S. government has utilized the FBI to probe incidents against Tesla as a part of them being constituted as instances of domestic terrorism. Earlier this month, the Bureau established a specific task force to handle Tesla-related attacks.

“The FBI has been investigating the increase in violent activity toward Tesla, and over the last few days, we have taken additional steps to crack down and coordinate our response,” FBI head Kash Patel said on X. “This is domestic terrorism. Those responsible will be pursued, caught, and brought to justice.”

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Elon Musk

Elon Musk clarifies Trump tariff effect on Tesla: “The cost impact is not trivial”

The U.S. President has stated that Elon Musk stayed silent and provided no input in the administration’s tariffs.

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MINISTÉRIO DAS COMUNICAÇÕES, CC BY 2.0 , via Wikimedia Commons

U.S. President Donald Trump’s plan to implement a 25% tariff on non-U.S.-made vehicles starting next week would affect American electric car maker Tesla. 

This was confirmed by CEO Elon Musk in a recent post on social media platform X.

Musk and Trump

While Elon Musk works closely with the Trump administration due to his role in the Department of Government Efficiency (DOGE), the U.S. president has emphasized that the Tesla CEO never asks for favors. This was highlighted in his recent comments, when he stated that Elon Musk stayed silent and provided no input in the administration’s 25% auto tariffs.

When asked by reporters if the new tariffs would be good for Tesla, Trump noted that they may be “net neutral or they may be good.” The U.S. president also pointed to Tesla’s automotive plants in Fremont, California and Austin, Texas, which produce vehicles that are sold in the country. “Anybody that has plants in the United States — it’s going to be good for them,” Trump noted.

Tesla Affected

In a post on X, Elon Musk clarified that the Trump administration’s tariffs would affect the prices of vehicle parts that are sourced from other countries. This was a concern that Tesla previously outlined in a letter to the U.S. Trade Representative, which noted that even with “aggressive localization” of its supply chain, “certain parts and components are difficult or impossible to source within the United States.”

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As per Musk in his recent post on X, the cost impact of the Trump administration’s tariffs is no joke. “To be clear, this will affect the price of parts in Tesla cars that come from other countries. The cost impact is not trivial,” Musk wrote in his post.

Potential Effects

Reactions to Musk’s comments from users of the social media platform were varied, with some speculating that the Trump auto tariffs could result in Teslas becoming more expensive in the United States. Despite this, the potential increases in Tesla’s vehicle prices might not be as notable as other cars, particularly those that are produced outside the country.

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