Posted on 03/03/2019 5:13:53 PM PST by 2ndDivisionVet
Lucid Motors, a Silicon Valley start-up that is gearing up to launch an advanced electric luxury car, said that it has struck a preliminary deal with Electrify America to provide its future customers with a nationwide recharging plan.
This is an important deal. Tesla's (NASDAQ:TSLA) Supercharger network has given it a big advantage in winning buyers away from internal-combustion alternatives. Any company looking to challenge Tesla will be at a disadvantage unless it can also provide its buyers with assurance that they'll be able to access high-speed chargers on road trips.
Lucid isn't yet public, but it just won a $1 billion investment from Saudi Arabia's sovereign wealth fund, enough to get its first vehicle into production. That investment put Lucid on a lot of investors' radar screens. If you're one of those investors, here's what you need to know about this deal.
Who is behind Electrify America?
Remember back in 2016, when Volkswagen (NASDAQOTH:VWAGY) agreed to a $15.3 billion settlement of a slew of civil claims related to its diesel-emissions cheating scandal? As part of that settlement, VW agreed to invest $2 billion over 10 years in zero-emissions vehicle (ZEV) infrastructure, access, and awareness initiatives in the U.S. Importantly, VW agreed that those investments would be brand-neutral -- not keyed to its own products -- in an effort to support wider adoption of ZEVs generally.
*old article possible ping of interest*
Every time I visit my home town, I drive by a Tesla charging station. A lot of times I see a truck with a covered trailer behind it.
My guess is that it has picked up a Tesla which didn’t make it to the station.
Lucid, you’re dreaming. Haha. See what I did there?
I love my gas hog Hemi.
They can keep their new stuff.
Tesla and Electric Cars will end up on the Ash heap of History.
Every time I go to the local junkyard, I see them crushing ‘09-’14 VW’s that are perfectly good, other that they make more NOX than the stupid Clinton admin regs allow (they still make less NOX than an ‘07 VW’s).
They actually drive the cars off the truck to the crusher, take the tires off, the battery out, suck out the Diesel, and crush it.
Sucks for Germany, but you do stupid shit, you pay for it.
I'm sure they're just a-shakin' over at Tesla. VW's apparently behind this still-imaginary network, and that's part of its own EV marketing strategy -- IOW, not of benefit to small playahs like Lucid. The charging network is a necessity for EV sales, obviously. :^) It has to be installed, ready, and waiting, and until needed, ignored by most. The first time I learned about the existence of the Supercharger network was as I was leaving the huge parking lot at Cascade Meijer in the eastern reaches of the Grand Rapids metro area. Posh area, and right by the freeway ramps, perfect location.
Ah, the memories of the “technological breakthrough of the century” .... free energy coming soon .... E-Cat, the way of the future for free energy.
I live in a rich town with lots of white guilt about 25 miles from Dallas. When Tesla’s first came out, We had a old retired guy with a 90’s Ford Pickup and Open Trailer that hauled the Tesla’s back to Dallas and later return them to their owners. I’d see the guy at least once a day. He wasn’t just delivering Tesla’s because most of the time I saw him he was leaving town with one.
OK dude, where does the energy come from?
Speaking of the E- cat, what did ever become of Kevmo?
“OK dude, where does the energy come from?”
From coal, nuclear energy and fossil fuels. As long as they aren’t being burned in the central valley where they are trapped.
Probably set one up as a power supply for his house and froze to death during a Global Warming Polar Vortex.
Goshdarnit, Home Depot still doesn’t stock any E-cats. Well, maybe this coming Christmas season they will.
So you’re good so long as it’s “not in my backyard”, right?
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