Lucid CEO Says EV Maker Mostly Immune If Trump Nixes Tax Credit

Lucid Group Inc.’s chief executive downplayed the significance of US electric vehicle tax credits for the company, even as concerns about the potential loss of subsidies sent the EV maker’s shares to new lows.

Lucid’s $69,900-and-up Air sedan is ineligible for purchase tax credits because it’s too expensive, CEO Peter Rawlinson said Friday on Bloomberg Television. While some customers are able to qualify for a $7,500 credit to lease an Air EV, there’s also a household income threshold that rules out many of the company’s clients.