Lucid CEO Warns New Cars Are About To Get More Expensive: 'No Other Way Around It'

Lucid CEO Warns New Cars Are About To Get More Expensive: 'No Other Way Around It'

Today on Critical Materials: Lucid CEO issues a price warning, Musk's companies infuse cash into xAI and Hyundai will ride out tariffs with cheap cars.

‘No Other Way Around It’

Hey, good news, everyone. That new car you’re thinking about buying? You know the one—maybe it’s electric, maybe it’s not. It doesn’t really matter what’s under the hood, because it’s about to get more expensive regardless. And no, it’s not because every automaker suddenly decided to add a premium feature or nappa leather to their cars. No, this time it’s tariffs. Again. Welcome back to Critical Materials, your daily roundup for all things elect…

Lucid Licensing Talks Delayed Due to Tariffs and Slowing EV Adoption, CEO Says

Lucid Motors’ efforts to expand its technology licensing business have slowed in recent months as global automakers face tariff-related uncertainty and shift capital toward internal combustion engine (ICE) programs. Speaking to Bloomberg during the opening of Panasonic’s new battery plant in Kansas on Monday, Lucid‘s interim chief Marc Winterhoff said external factors have delayed progress in the licensing talks. “In the last couple of months wi…

Lucid CEO warns Trump’s tariffs will raise U.S. vehicle costs despite local production

Lucid Motors’ interim CEO, Marc Winterhoff, cautioned that President Donald Trump’s latest tariffs will raise the cost of producing vehicles in the U.S., as automakers still rely on global supply chains for key components. Speaking from Panasonic’s De Soto, Kansas battery facility, Winterhoff emphasized that even domestic EV makers must import raw materials, especially for batteries, which are subject to new levies. The EV maker is now accelerat…

Lucid CEO says Trump's tariffs will increase car costs

Prices will rise for US buyers CEO: ‘There’s no way around it’ New SUV model to launch next year Tariffs imposed by US president Donald Trump will drive up the cost of automobile manufacturing, Lucid Group’s interim CEO Marc Winterhoff has said. The US electric vehicle maker is majority-owned by Saudi Arabia’s Public Investment Fund. US auto manufacturers will have to import raw materials and some parts from other countries as the industry suppl…