As the CEO of Tesla and an outspoken advocate of green technology, Elon Musk developed a large and loyal fanbase and was frequently credited as a major force helping to build demand for the automaker’s EVs. But things have changed over the nearly two years since Musk purchased what was then Twitter and began a visible shift towards the political right. That’s changed perceptions of the South African-born Musk for many former fans. But is that costing Tesla sales? Headlight.News has this story.
After talking up its next vehicle in its lineup, Lucid Motors revealed a teaser of what will follow the Gravity. Officials say the new model, which will hit the streets in late 2026, aims to compete with the Tesla Model Y. Get details at Headlight.News.
Lucid CEO Peter Rawlinson says that the company has surpassed Tesla as tech leader in the EV segment as the company prepares to heat up its rivalry with Elon Musk with the upcoming release of the Gravity three-row EV SUV.
EV maker Lucid Motors offered up good news during its second quarter earnings call as it secured as much as $1.5 billion in new cash just in time to begin production of its second vehicle, the Gravity SUV. The company also managed to beat analysts’ estimates for the quarter. Find out more at Headlight.News.
Battery-electric vehicles use half as much energy to run a given distance as do vehicles powered by gasoline, according to a new study by Yale University. And the cleaner and more efficient the source of electricity used to charge a vehicle the better the equation gets.
Many EV makers want to see just how far they can get their vehicles to travel on a single charge or how fast it can recharge using a fast DC charger, but Lucid’s improved its industry-leading efficiency to a new high. Find out more at Headlight.News.
It’s been four decades since Honda started building Accords at a new plant in Marysville, Ohio. Today, foreign-owned manufacturers are producing more vehicles in the U.S. than Detroit’s Big Three. And the gap is only expected to widen, in part due to local production mandates covering battery-electric vehicles, reports Headlight.News.
It’s been a tough year for EV start-ups, Fisker filing for bankruptcy, and several others expected to follow. But there have been a few glimmers of hope. Price cuts helped Lucid outperform sales expectations during the second quarter, buying it time to bring a second product line to market later this year. But with Wall Street still skeptical, the California manufacturer remains critically dependent on cash from the Saudis, Lucid’s largest investor.
Lucid Group named a new PR chief, Nick Twork taking on global communications duties at the EV start-up. The move comes at a critical time for the Silicon Valley-based automaker. While its initial product line, the Air sedan, has received generally favorable reviews, Lucid has been struggling with sluggish sales and a rapid cash burn while waiting for the more mainstream Gravity SUV to debut later this year.
Headlight News for The Week of 6-3-2024 – Jeep Electrifies – Lucid and Fisker Cut Jobs – New BMW 3-Series – Chevy Equinox EV Review – This Week in Automotive History
Struggling battery-electric start-up Lucid Group will cut 400 jobs as it tries to slash mounting financial woes. It’s far from the only EV manufacturer responding to slowing sales growth by trimming its workforce, however. And still more cuts are expected to follow in the months ahead.
In desperate need of a more affordable product that can deliver a big boost in sales, Lucid is working up a new compact SUV taking aim at the Tesla Model Y. Expect it to enter production by 2026, with a base price of less than $50,000, said CEO Peter Rawlinson, earlier than previously expected.