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.
Depends, if the recharge times get down to a few minutes from hours they may have a chance one day. A big IF.
LOL! I love that picture!
You’d really have to be asleep at the wheel to let your car go dead on the road...Tesla range is measured in hundreds of miles, not tens.
Tesla should be faster in roll-on times...
In 10-15yrs, they’ll be all parked in a massive HAZMAT Zone in the desert, due to leaking batteries, fires, toxins etc.
The last I heard of Rossi on FR he was being sued in Italy .... never heard anything after.
good for you!!!!
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