Trump Administration Removes Electric Car Incentives, Lucid: It's OK For Us To Give

Lucid Garvity. (Doc. Lucid Motors)

JAKARTA The Trump administration plans to remove the federal tax credit for electric cars by $7,500 by the end of September, making the price of eligible EV vehicles much more expensive.

However, Lucid took a bold step. They announced that they would continue to offer incentives of the same value as US $ 7,500 through the "Lucid Advanced Credit" program until the end of the year.

In his official press release, quoted Thursday, August 21, Lucid stated that customers who order and sign a new Lucid Gravity rental contract between October 1 and December 31 will meet the requirements to get this incentive. Existing customers will also get the same benefits.

Lucid Gravity's own production begins at the end of 2024 and volume is still increasing slowly.

"I've seen firsthand how [the EV federal tax credit] plays an important role in encouraging people to switch to electric vehicles," said Vice President for Revenue Lucid Erwin Raphael.

Lucid's decision to bear this incentive fee himself comes at an inappropriate time. Lucid, who is currently still not making a profit, must take an additional 7,500 US dollars "hit" for each gravity unit that is rented out. This is certainly a big challenge for a company that aspires to become a global EV player.

Lucid Gravity is currently available in the US in the Grand Touring variant at prices ranging from 94,900 US dollars (equivalent to Rp1.5 billion). However, the book ordering for the more affordable version of Touring, starting at 79,900 US dollars (Rp1.3 billion), will open later this year. The entire model is supported by a 926-volt electric architecture that allows super fast charging, where the power to cover a 320 km distance can be added in less than 12 minutes.