I will share my perspective that the Lucid Air at present stands out as one of the best electrical car out there in America. Nevertheless, it faces challenges as a high-end luxurious sedan from a nascent firm in a shifting market. The Lucid Gravity SUV is ready to launch, but it surely arrives amidst appreciable uncertainty.
The query stays: can the family-friendly Gravity assist Lucid Motors thrive in 2025 and past? In at present’s version of Essential Supplies, we’ll discover this query together with different trade information. Additionally featured at present: South Korea’s burgeoning battery trade within the U.S. is turning into anxious about its future underneath a possible Trump administration, and Rivian’s inventory appears prone to end 2025 on a constructive observe. Let’s delve into the small print.
30%: Defying Gravity
Lucid formally started manufacturing of the Gravity final week at its Casa Grande, Arizona manufacturing unit, fulfilling its dedication to launch earlier than the top of 2024. CEO Peter Rawlinson celebrated the milestone on social media, marking the primary car rolling off the meeting line.
The significance of the Gravity for Lucid can’t be overstated. The startup, which is now predominantly owned by Saudi Arabia’s Public Funding Fund, has maximized its potential with the Air sedan, which begins at $70,000. The necessity for extra mainstream fashions is vital to draw a broader buyer base to help ongoing operations whereas they develop mass-market EVs. If the Air is akin to the Tesla Mannequin S, then the Gravity serves as its Mannequin X till the anticipated "Venture Midsize" can take form as their Mannequin Y.
Nevertheless, it is price noting that the Mannequin X didn’t obtain the success Tesla meant, and Lucid can’t afford any missteps at this important stage. In keeping with Automotive Information, the corporate just lately reported a staggering third-quarter web lack of $950 million, a rise from losses of $790 million and $681 million in earlier quarters this yr. Lucid’s monetary place consists of $1.9 billion in money and money equivalents as of September 30, however its inventory has plummeted almost 50 % because the starting of the yr.
The Gravity will initially be out there with the high-end Grand Touring trim, beginning at $96,550. Extra reasonably priced variations are deliberate for late 2025, but it surely stays unsure whether or not buyer deliveries will start subsequent yr or later. The market shall be watching intently to see how Gravity gross sales affect Lucid’s monetary well being and if it resonates with customers.
From what I’ve seen at auto exhibits, the Gravity seems to be a formidable SUV with a exceptional vary of as much as 440 miles. Extra updates on Lucid’s developments shall be shared on InsideEVs this week.
60%: Korea’s $54 Billion Battery Growth within the U.S. Faces Uncertainty Below Trump
Regardless of latest challenges, it’s very important for America to take care of a powerful partnership with South Korea. As a key buying and selling ally and expertise investor, the U.S. advantages enormously from South Korea’s experience within the battery sector, second solely to China.
Nevertheless, important investments by Korean corporations like LG, SK On, and Samsung in U.S. battery crops at the moment are questioned on account of potential adjustments in authorities incentives underneath a brand new Trump administration. Some companies have paused development, apprehensive about lowering EV demand and potential cuts to the Inflation Discount Act’s EV tax breaks.
Trade specialists spotlight that intensive cuts to authorities incentives might threaten U.S. jobs and reverse progress in decreasing reliance on Chinese language provide chains. Moreover, the prospect of Chinese language battery makers, probably backed by Trump, getting into the U.S. market might spell catastrophe for South Korean corporations, as they’d probably compete on pricing.
90%: Wall Road Will get Extra Optimistic About Rivian
On a brighter observe for electrical automobiles, Rivian is gaining consideration as favorable circumstances appear to propel its inventory. Following an funding from Volkswagen, declining competitors, a big Division of Power mortgage, and enhancements in its steadiness sheet, Rivian’s inventory has surged by over 20% within the final month.
The R1T, Rivian’s electrical pickup, faces competitors predominantly from Ford’s F-150 Lightning, which has seen a drop in gross sales. Nonetheless, Rivian estimates it should ship between 50,500 and 52,000 EVs this yr, a slight enhance from final yr. The corporate can also be gearing as much as produce its next-generation R2 platform subsequent yr.
100%: What EV Maker Are You Most Optimistic About?
Which electrical car producer do you imagine will excel in 2025 and past? Share your ideas within the feedback beneath.
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