Lucid CEO Reminds Everyone That Tesla's Model S Has Remained Unchanged Since the Obama Administration | Carscoops

Lucid CEO Reminds Everyone That Tesla's Model S Has Remained Unchanged Since the Obama Administration | Carscoops

      A new collaboration promises thousands of electric vehicles and a rollout of robotaxis, though the ambitious startup still faces challenges for its viability.

      

      Uber invested $300 million in Lucid in July to support its future development.

      The agreement includes 20,000 Gravity SUVs designated for a new robotaxi fleet in the US.

      Lucid's CEO asserts that Tesla's aging vehicle lineup is drawing in new customers.

      Despite the Lucid Air being recognized as one of the most advanced electric cars available—with the longest range of any EV in the US—the brand is engaged in a significant financial struggle. Each vehicle sold is accompanied by considerable losses, making the recent partnership with Uber, along with efforts to attract drivers away from competitors, potentially vital for ensuring a solid future.

      Through this alliance with Uber, Lucid will receive a $300 million investment, positioning Uber as its second-largest shareholder after the Saudi Public Investment Fund. Uber plans to acquire 20,000 Gravity SUVs from Lucid to incorporate into an extensive robotaxi fleet set to launch across the United States next year.

      Significant Support, Significant Risk

      This agreement comes at a crucial time for Lucid. Following the Trump administration's decision to eliminate the EV tax credit and discontinue penalties for manufacturers failing to meet emissions standards, electric vehicle makers are bracing for potential declines in sales. Nonetheless, Lucid’s CEO, Marc Winteroff, is optimistic that the deal with Uber will mark the beginning of a vital new phase for the brand.

      "The largest ride-hailing company in the world is making a strategic investment,” Winteroff remarked. “That says a lot... 20,000 is just the beginning. The possibilities are endless."

      Lucid is also exploring innovative strategies to maximize the benefits of its partnership with Uber. Winteroff noted that the company plans to sell vehicles to fleet managers on the Uber platform and aims to generate revenue through mileage-based charging. He emphasized that the removal of the tax credit represents a significant loss of revenue that the company must compensate for, which is why capitalizing on the Uber arrangement is crucial.

      During the interview, Winteroff also took a subtle jab at Tesla, noting that Lucid has seen an increase in Tesla owners switching brands due to Tesla's aging vehicle lineup and Musk's controversial political involvement, which he indicated has alienated some buyers.

      "We have definitely observed an uptick, particularly in Europe and the US," Lucid’s CEO stated. "The Model S hasn’t changed in 12 years… customers are actively exploring alternatives.” However, Lucid still has considerable progress to make before it can genuinely challenge Tesla in sales.

      A mid-size SUV is key to Lucid’s future objectives. This upcoming model is expected to start at below $50,000 and may be named Earth. It will draw design inspiration from Lucid’s current models, with production scheduled to begin by the end of 2026. Additionally, a rugged version inspired by the recent Gravity X Concept will be produced, followed by another model set to launch in 2028.

Lucid CEO Reminds Everyone That Tesla's Model S Has Remained Unchanged Since the Obama Administration | Carscoops Lucid CEO Reminds Everyone That Tesla's Model S Has Remained Unchanged Since the Obama Administration | Carscoops Lucid CEO Reminds Everyone That Tesla's Model S Has Remained Unchanged Since the Obama Administration | Carscoops

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Lucid CEO Reminds Everyone That Tesla's Model S Has Remained Unchanged Since the Obama Administration | Carscoops

A new collaboration guarantees thousands of additional electric vehicles and the launch of a robotaxi service, yet obstacles persist for the ambitious startup's continued existence.