Special Offer for Lucid Customers
If you are considering purchasing a luxury electric SUV like the Lucid Gravity, now might be the best time to lease. The Trump administration is canceling the $7,500 federal tax credit for electric vehicles at the end of September, which will make eligible models significantly more expensive. Fortunately, Lucid is stepping in and will continue to offer a $7,500 credit until the end of the year.
Credit Eligibility Terms
Lucid has announced that qualified lessees who have ordered a new Lucid Gravity and finalized a lease from October 1 to December 31 will be eligible for the $7,500 Lucid Advantage credit. Existing customers who meet the requirements will receive the same benefit.
Erwin Raphael, Lucid’s Vice President of Revenue, noted that he had seen “firsthand how [the federal EV tax credit] played a significant role in encouraging people to switch to electric vehicles”.
Challenges Due to the Credit Cancellation
The cancellation of the tax credit comes at an inopportune time for Lucid. The company has been developing the Gravity SUV for several years, and now, to fund its own credit, it will have an additional cost of $7,500 for every Gravity leased. This is bad news for a company that remains unprofitable and wants to become a serious player in the mass-market EV segment.
Production and Technical Features
Lucid began production of the Gravity in late 2024 and is gradually ramping up volumes. Recent drone footage from YouTuber LucidFlys shows that hundreds of Lucid Gravity models are currently parked at the factory grounds in Casa Grande, Arizona. According to the author, Lucid is facing some supplier constraints affecting Gravity production, particularly a shortage of heads-up displays and sockets.
Currently, the Lucid Gravity is only available in the Grand Touring version in the United States, with a starting price of $94,900, but orders for the Touring version, which will start at $79,900, will begin later this year. All models are built on a 926-volt electrical architecture, allowing the vehicle to charge at up to 400 kW, meaning 200 miles (320 km) of range can be added in less than 12 minutes.
This strategy by Lucid demonstrates how important government incentives are for the development of the electric vehicle market. The company, despite financial difficulties, is taking steps to support demand, which could impact the brand’s long-term competitiveness. The technical advantages of the Gravity model, such as fast charging, remain key selling points for buyers, even without external incentives.