Tesla cut the price of the Model S for the second time this week, after EV startup Lucid Motors, led by former Tesla executive Peter Rawlinson, announced the base price of its upcoming Air EV would be US$69,900 (after tax credits).

"The gauntlet has been thrown down! The prophecy will be fulfilled. Model S price changes to $69,420 tonight!" seekingalpha.com noted Elon Musk wrote on Twitter (the price was previously reduced from $74,990 to $71,990).

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

Lucid said the Air order book was open with a starting price of $77,400 – or $69,900 after the US federal tax credit of $7,500 – with a reservation fee of $300. It promised 480 horsepower, a projected EPA estimated range of 406 miles on a single charge, a single motor powertrain with an optional dual motor, all wheel drive configuration, a 900+ ultra high voltage electrical architecture with DC fast charging capability and three years of complimentary charging at [Volkswagen's] Electrify America nationwide network of ultrafast charging stations.

According to seekingalpha.com, Tesla's Model S is good for 402 miles per charge. 

Just Auto Excellence Awards - Nominations Closed

Nominations are now closed for the Just Auto Technology Excellence Awards. A big thanks to all the organisations that entered – your response has been outstanding, showcasing exceptional innovation, leadership, and impact.

Excellence in Action
Continental has secured the Window Displays Innovation Award in the 2025 Just Auto Excellence Awards for its Window Projection solution, transforming side windows into dynamic, data-rich canvases. Discover how this compact projection technology and intelligent software are reshaping in-car UX and opening fresh revenue streams for OEMs and mobility providers.

Discover the Impact