Automakers are using a legal loophole to get customers an extra $7,500 tax credit — and business is booming

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Lucid Air Grand Touring
Lucid is one of the companies that has offered customers a monthly savings if they lease one of their EVs.

Lucid

Tesla rival Rivian's stock sinks 13% after the EV maker's output forecast comes in well below expectations

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Rivian EVs
Rivian recalled 13,000 of its vehicles on Friday.

Justin Sullivan / Staff / Getty

Lucid's slow deliveries, cancelled orders, and increasing competition are 'red flags,' experts say

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Lucid Air
Lucid said Wednesday that it plans to build 10,000 to 14,000 vehicles in 2023, short of Wall Street expectations.

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Tesla rival Lucid's stock slides 15% after it says it'll make fewer electric cars than expected this year

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Lucid CEO Peter Rawlinson shows off the Lucid Air electric sedan
Lucid Group shares slumped in premarket trading Thursday after the Tesla rival posted disappointing production and delivery guidance.

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Traditional automakers have one huge leg up on EV startups: A nationwide network of shops ready to service cars

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A Tesla showroom and service center, in Burbank on Friday, Sept. 4, 2020 in Burbank, CA.
As EV startups like Rivian get more cars on the road, the question is whether they'll find the same success servicing their vehicles as Tesla has.

Kent Nishimura / Los Angeles Times via Getty Images

Lucid Motors is helping oil-rich Saudi Arabia go electric in its ambitious plan to become a carmaking powerhouse

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Photo of Lucid Motors car in front of Lucid power plant and manufacturing car 4x3
Lucid Motors aims to produce 150,000 cars a year in Saudi Arabia in 2025.

Lucid Motors; Reuters; Rachel Mendelson/Insider

Tesla's stock is getting trounced by EV challenger Lucid, which is leading techs' 2023 rally thanks to Saudi takeover rumors

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Photo of Lucid Motors car in front of Lucid power plant and manufacturing car 4x3
Lucid Motors' share price has rallied 69% this year.

Lucid Motors; Reuters; Rachel Mendelson/Insider

Electric car-makers have found a legal loophole to get their customers an extra $7,500 tax credit

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Lucid Air Grand Touring
Lucid has recently emailed reservation holders about efforts to get them the commercial EV tax credit, if they lease an Air.

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