Lucid Motors Bolsters Post-EV Tax Credit Strategy, Launches SUV Abroad

Lucid Motors' Global Leap Amidst EV Tax Credit Cuts

Facing the expiration of a significant $7,500 EV tax credit in the U.S., Lucid Motors is strategically expanding its horizons, launching the Gravity SUV in Europe and enhancing its production capabilities stateside.

The Breaking Point

With tax incentives on the brink of disappearing, Lucid Motors acts swiftly to maintain consumer interest and sales momentum. Despite the financial strains reflected in a $855.3 million loss this past quarter, interim CEO Marc Winterhoff gears up to mitigate potential slowdowns post-September 30.

Beneath the Surface

The Gravity SUV launch extends Lucid’s reach into Europe, a strategic move accompanied by a new marketing campaign featuring Timothee Chalamet. With plans for expansion and partnerships in Europe, including imports and local dealership collaborations, Lucid is setting the stage for broader market penetration.

The Ripple Effect

In a robust response to the evolving landscape, Lucid is also poised to transform its luxury offerings with the Lucid Gravity Advantage Credit program and a promising $300 million collaboration with Uber on developing robotaxis. As the automobile industry adapts, Lucid aims to sustain its premium identity while navigating new pricing strategies.