Lucid gravity order begins Nov 7

[LucidfanAZ]

Interesting answer from Gemini... it has a point, and I recall somebody else suggesting this name!

View attachment 24187

Peter does love to say "Gravity will be a force of nature". Maybe a subtle tip to a name in the line-up..

 

[momo3605]

Am I the only one here who is hitting submitting my order at 9:01?

Depends on the lease rates for me. I expect they will be expensive to start. Air leases are only cheap with the onsite $5k discount. That probably won’t happen for a while!

 

[HC_79]

Depends on the lease rates for me. I expect they will be expensive to start. Air leases are only cheap with the onsite $5k discount. That probably won’t happen for a while!

You'll still get $7,500 off though right? or has that government incentive disappeared?

 

[marsarbu]

You'll still get $7,500 off though right? or has that government incentive disappeared?

I think the survival of the $7,500 incentive will depend on the next POTUS. Fingers crossed that it will live on.

 

[msaunders9430]

Is it possible an additional strategy behind the 2025 production of the sub $80k Touring version is to enable eligible households to use the ev tax credit?

The tax credit requires critical battery materials to be extracted or processed in the US for a $3,750 credit and battery assembly in the US allows an additional $3,750 credit.
I recall reading an article about Lucid opening a battery production facility in Kansas in 2025.

 

[msaunders9430]

Is it possible an additional strategy behind the 2025 production of the sub $80k Touring version is to enable eligible households to use the ev tax credit?

The tax credit requires critical battery materials to be extracted or processed in the US for a $3,750 credit and battery assembly in the US allows an additional $3,750 credit.
I recall reading an article about Lucid opening a battery production facility in Kansas in 2025.

What I'm not sure about is if the assembly requirement is specific to battery production/assembly or battery pack assembly. If it's battery pack, I would think assembly in Arizona is sufficient.

 

[momo3605]

You'll still get $7,500 off though right? or has that government incentive disappeared?

You will for sure. But it doesn’t mean much. If they set the residual too low or the interest rate too high it can negate the rebate discount.

 

[HariK]

Isn't Gravity GT base price already lower than the Air GT base price?

But we have no idea what equipment is included in the base price of gravity GT vs Air GT

 

[borski]

You will for sure. But it doesn’t mean much. If they set the residual too low or the interest rate too high it can negate the rebate discount.

It seems unlikely they would try to disincentivize you from buying, given the market today. This isn’t 2022, heh.

But you’re right, we’ll see. I have no idea.

 

[illopp00]

All will be clearer after the earnings report and opening of orders. We'll see the production and sales volume guidance for 2025. Those should explain the decision of only offering GT for the first year.

If I was to speculate - production volume (due to ramp up) will be low enough to keep a full order book of GTs for all of 2025. The other thing I'll be watching is what the guidance projects Air production to be in 2025. Gravity availability may lower Air demand and it will be interesting to see how they see the demand split.

I suspect they are having some supply chain issue too on something needed, ie the the steel roofs for the Airs. Which means they can't offer some part of the Gravity that enables the Touring/80K price. Or that they want to use the Atlas motor in the front.

 

[illopp00]

And also the 'Osborne Effect' of not torpedoing the current 50% growth momentum of Airs...

 

[steveairgt]

It seems that Gravity won’t qualify based on the MSRP. Here’s a portion of the statute.

“
Vans, sport utility vehicles, and pickup trucks must not have an MSRP above $80,00
“

 

[msaunders9430]

It seems that Gravity won’t qualify based on the MSRP. Here’s a portion of the statute.

“
Vans, sport utility vehicles, and pickup trucks must not have an MSRP above $80,00
“

Which means the Touring version of the Gravity, with an MSRP of $79,900 should qualify, correct?

 

[steveairgt]

Which means the Touring version of the Gravity, with an MSRP of $79,900 should qualify, correct?

I assume it could as long as you don’t add any options which seems hard to do. The Touring is probably a year out. Initially it seems they will produce the GT at 94k+.

 

[msaunders9430]

I assume it could as long as you don’t add any options which seems hard to do. The Touring is probably a year out. Initially it seems they will produce the GT at 94k+.

It's my understanding that the credits are based on the MSRP, not the final price after options are added.

 

[msaunders9430]

It's my understanding that the credits are based on the MSRP, not the final price after options are added.

The Rivian R1s Dual Max has a sub $80k MSRP and is eligible for a $3,750 credit to qualifying buyers.
The batteries are produced in South Korea, but the battery pack is assembled in Illinois.
I think I'm hung up on battery assembly vs. battery pack assembly.

Going with the R1s as an example, a Gravity Touring version, with battery pack assembled in Arizona, should be eligible for some buyers.
Just seeking confirmation or info that refutes.

 

[HC_79]

It seems that Gravity won’t qualify based on the MSRP. Here’s a portion of the statute.

“
Vans, sport utility vehicles, and pickup trucks must not have an MSRP above $80,00
“

There’s a loophole in leasing though. I believe the MSRP doesn’t matter on a lease so all cars qualify for the $7,500. If you’re buying….. yeah, no deal!

 

[hmp10]

There’s a loophole in leasing though. I believe the MSRP doesn’t matter on a lease so all cars qualify for the $7,500. If you’re buying….. yeah, no deal!

The trick is to be sure that the dealer or manufacturer is really passing that credit on to you instead of retaining it for themselves through manipulating the lease calculations by playing with interest rates or residual values.

I had an older friend who leased a VW ID.4 and was mightily pleased when the dealer told him the tax credit would be reflected in a lower lease payment. Then he told me the lease payment, and I almost fell off my chair -- although I didn't say anything to him.

 

[patriots328]

...so why is the Touring coming in late 2025? 1 year of just GT's being made? And the Pure will come even later than that...

I have theory… it might be due to the different battery chemistries being used for GT(assuming Samsung) and Touring (assuming Panasonic).

Panasonic is expected kick start production sometime in Q2 in Kansas. Lucid might be waiting for the supply of these to take advantage of the IRA incentives.

 

[msaunders9430]

I have theory… it might be due to the different battery chemistries being used for GT(assuming Samsung) and Touring (assuming Panasonic).

Panasonic is expected kick start production sometime in Q2 in Kansas. Lucid might be waiting for the supply of these to take advantage of the IRA incentives.

That's what I'm thinking.

The caveat is that the value of the battery components assembled in the USA must be at least 60% of the battery value.

I thought Rivians were eligible because of the plant in Illinois. Not the case. Value of assembly is Illinois is less than 60%. I found out on Rivian forum that certain Rivians satisfy the critical materials requirement for a $3,750 credit.