September 30, 2023

Lucid introduced Thursday that it’s providing a $7,500 “EV credit score” on choose configurations of the Air Touring and Air Grand Touring—in the event that they’re ordered by March 31, 2023. 

The Lucid Air Grand Touring begins at $139,500 and presents an EPA-rated vary of as much as 516 miles or, in its Grand Touring Efficiency guise, 1,050 hp and a 0-60 mph time of two.6 seconds. The Air Touring begins at $108,900, and it delivers an EPA vary of as much as 425 miles and an astounding 140-MPGe EPA ranking—higher than any present Tesla.

So in the meanwhile, this drops the entry costs for Grand Touring and Touring to $132,000 and $101,400, respectively. Lucid notes that this doesn’t apply with some construct mixtures, like including the Stealth look to this aviation-influenced design. 

Neither the $94,400 dual-motor Air Pure nor the $250,500 tri-motor Air Sapphire are talked about within the promotion. That’s doubtless as a result of there’s an keen backlog of reservations for every—as there additionally doubtless are for the single-motor (rear-drive) Air Pure variations, at $88,900, that come later within the 12 months.

2023 Lucid Air Touring

2023 Lucid Air Touring

Though calling it an “EV credit score” looks like a coy admission that not one of the firm’s Arizona-made electrical automobiles at the moment qualify for the EV tax credit score making use of to purchases, it may simply as nicely be a response to Tesla’s latest value cuts, which lowered the price of the Tesla Mannequin S and Mannequin X by about 15%.

Lucid has managed to roll in some federal incentives, although. It was one of many first corporations to supply a lease that appeared to determine in IRS 45W, the Business Clear Car Credit score, that’s a part of the Inflation Discount Act (IRA). Put merely, that permits captive or affiliated finance corporations, which may supply the automobile below lease, to say the quantity and achieve this—and in latest weeks many extra manufacturers have appeared to determine that in. 

This is not the primary such $7,500 low cost unbiased of an precise tax credit score. Late final 12 months, a $7,500 Tesla low cost very similar to this and geared toward giving the Mannequin 3 and Mannequin Y a lift. Such occasions, up to now, have been uncommon amongst corporations like Tesla, Lucid, or Rivian that comply with a direct gross sales mannequin. Given the Tesla recalibration and a latest response from Ford, it seems that the EV value warfare some have predicted is right here, on some stage.