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Ultra-luxury Lucid ‘Air’ will start at $52,500 with 240-mile electric range

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Lucid Motors has announced that the starting price of its ultra-luxury ‘Air’ will begin at $52,500, after tax incentives. The base model will have a 240-mile range keeping it competitive to Tesla’s $35,000 mass market Model 3 with an expected minimum all-electric range of 215 miles.

The timing for today’s press release of a lower-cost ‘Air’ puts Lucid Motors in a strong position, as it clarifies previous rumors that the Silicon Valley-based automaker would only make a $165,000 ultra-luxury version. Air’s futuristic interior and lower-than-expected pricing could entice anxious Model 3 reservation holders to cancel and opt for the more luxurious, larger vehicle.

Additionally, Lucid ‘Air’ is poised to become the industry’s longest range electric vehicle with the option to upgrade to a 400-mile battery pack, currently held by Tesla’s Model S 100D.

It’s worth noting that Lucid’s press release indicates that the base price for ‘Air’ will be $52,500, after tax incentives, but a fully optioned version will cost north $100,000.

Here are the planned options for the vehicle:

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  • 315-mile and 400-mile-range battery options
  • Up to 1,000-horsepower twin-motor configuration, with all-wheel drive
  • Fully active suspension, delivering a world-class ride
  • Glass-canopy roof
  • Rear executive seats that recline up to 55 degrees
  • 22-way power front seats with heating, ventilation, dynamic bolsters, and massage
  • 21-inch Lucid-design wheels
  • 29-speaker audio system with active noise cancellation
  • Expanded leather trim with corresponding material upgrades

The base vehicle includes a plethora of features including; 400 horsepower, a  rear wheel drive powertrain, combined trunk storage of 32 cubic feet, 240-mile range, autonomous driving hardware, and over-the-air software updates. The included options at this price range competes heavily with the Tesla Model S, which starts at $68,000 and has a lesser range of 210 miles. Lucid Motors is currently working with Samsung SDI to produce the vehicle’s batteries.

Lucid Motors demonstrated the ‘Air’ at a private event in Newport Beach, CA

The company is also offering a “Launch Edition” for the first 255 customers and starts north of $100,000. Options included for the Lucid ‘Air’ Launch Edition include:

  • 315-mile range
  • 1,000 horsepower, all-wheel drive
  • Autonomous driving hardware
  • 21-inch Lucid-design wheels
  • Upgraded audio system
  • Unique colors and badging

As Lucid launches the vehicle into production, they plan to produce 10,000 vehicles in the first 12 months. It is unclear exactly when the ‘Air’ will enter production, but the company told Teslarati at one of their private launch parties that the car is expected to go into production in 2019. Lucid currently building a $700M production plant in Casa Grande, Arizona that is expected to employ 2,000 workers.

Lucid Motors was founded in 2007 and has raised over $130M in venture funding over the years. The company’s CTO, Peter Rawlinson, was Vice President of Vehicle Engineering at Tesla, where he developed the Model S. Additionally, one of Lucid’s co-founders, Sam Weng, was a VP at Redback Networks and Senior Director at Oracle.

If you are interested in placing a reservation for the ‘Air’, Lucid requires a $2,500 deposit for the standard vehicle and $25,000 for the Launch Edition. Reserve Here

Christian Prenzler is currently the VP of Business Development at Teslarati, leading strategic partnerships, content development, email newsletters, and subscription programs. Additionally, Christian thoroughly enjoys investigating pivotal moments in the emerging mobility sector and sharing these stories with Teslarati's readers. He has been closely following and writing on Tesla and disruptive technology for over seven years. You can contact Christian here: christian@teslarati.com

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Tesla Model Y proudly takes its place as China’s best-selling SUV in May

The Model Y edged out competitors like the BYD Song Plus.

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Credit: Tesla China

The Tesla Model Y claimed its position as China’s best-selling SUV in May, with 24,770 units registered, according to insurance data from China EV DataTracker

The Model Y edged out competitors like the BYD Song Plus, which recorded 24,240 registrations, as well as Geely’s gasoline-powered Xingyue L, which took third place with 21,014 units registered, as noted in Car News China report.

Return To The Top

The Model Y’s return to the top of China’s SUV market follows a second-place finish in April, when it trailed the BYD Song Plus by just 684 units. Tesla China had 19,984 new Model Y registrations in April, while BYD had 20,668 registrations for the Song Plus. 

For the first five months of 2025, Tesla sold 126,643 Model Ys in China, outpacing the Song Plus at 110,551 units and BYD’s Song Pro at 80,245 units. This is quite impressive as the new Tesla Model Y is still a premium vehicle that is significantly more expensive than a good number of its competitors.

Year-Over-Year Challenges

Despite its SUV crown, Tesla’s year-over-year performance in China is still seeing headwinds. May sales totaled 38,588 units, a 30% year-over-year decline. From January to May, Tesla delivered 201,926 vehicles in China, a 7.8% drop year-over-year. These drops, however, are notably affected by the company’s changeover to the new Model Y in the first quarter.

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Exports from Tesla’s Shanghai Gigafactory also fell, with 90,949 vehicles being shipped from January to May 2025. This represents a decline of 33.4% year-over-year, though May exports rose 33% to 23,074 units.

China’s electric vehicle market, meanwhile, showed robust growth. Total NEV sales, which includes battery electric vehicles (BEVs) and plug-in hybrids (PHEVs), reached 1,021,000 units in May, up 28% year-over-year. BEV sales alone hit 607,000 units, a 22.4% increase.

Considering the fact that China’s BEV market is extremely competitive, the Tesla Model Y’s rise to the top of the country’s SUV rankings is extremely impressive.

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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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