Guinness World Record Lucid Grand Longest EV Drive
Lucid Group has set a new GUINNESS WORLD RECORDS title after its Lucid Air Grand Touring drove 1,205 kilometers (approximately 749 miles) on a single charge, surpassing the previous record by 160 kilometers. The journey, from St. Moritz, Switzerland to Munich, Germany, showcased Lucid’s advanced electric powertrain and efficiency, reaffirming its leadership in EV range and performance.
Global Light-Duty Market Drive to Electrification
A new report from Guidehouse Research forecasts a major shift in the global light-duty vehicle (LDV) market, with battery electric vehicles (BEVs) leading the transition. In 2024, BEVs are expected to account for 15% of global LDV sales, but that figure is projected to rise dramatically to 53% by 2033—representing a compound annual growth rate of 16%. Meanwhile, traditional internal combustion engine (ICE) vehicles will see a steep decline from nearly 65% of sales in 2024 to just under 20% in 2033. The report highlights this shift as part of a broader global effort toward decarbonization and sustainable transportation.
Despite growing momentum, the transition to full electrification faces significant hurdles. Charging infrastructure remains a critical barrier in many regions, and some governments have slowed climate-related initiatives, prompting automakers to scale back earlier commitments. In addition, political and economic uncertainty—especially in the wake of the 2024 U.S. presidential election—has led to a more cautious investment environment. Still, Guidehouse analysts believe that the electrification trend is irreversible, as the combined forces of regulation, innovation, and consumer demand continue to drive growth.
The report, Light Duty Vehicle Electrification, outlines sales projections for various vehicle types, including BEVs, plug-in hybrid electric vehicles (PHEVs), hybrid electric vehicles (HEVs), extended-range electric vehicles (EREVs), fuel cell vehicles (FCVs), and ICEs. It analyzes how factors like government incentives and lower cost-per-mile will influence market dynamics through 2033. While the road to full electrification may include detours and delays, the report underscores that EVs are poised to dominate the LDV market in the years ahead.
Ford, Michigan Battery Plant “On Track” for Federal Tax Credits
Ford’s $3 billion battery plant in Marshall, Michigan—currently 60% complete—is expected to qualify for federal battery-cell production tax credits under the newly adjusted tax bill. The plant, set to begin production in 2026 and employ around 1,700 workers, had faced eligibility concerns due to its use of technology licensed from China’s CATL. An automakers’ group praised recent policy adjustments that preserve credits while excluding direct foreign ownership.
Panasonic Delays Kansas Battery Plant with Tesla
Panasonic is postponing the full-scale ramp-up of its Kansas EV battery plant, originally planned to reach 30 GWh capacity by March 2027. The delay is linked to cooling Tesla demand, as the plant was primarily built to serve Tesla’s needs. While initial production will continue, the timeline for reaching full capacity remains uncertain.
Automakers Push EV Sales Ahead of $7,500 Tax Credit Expiry
U.S. automakers are stepping up incentives, including offers like free home chargers, as the $7,500 federal EV tax credit is scheduled to expire on September 30, 2025. Industry analysts warn that EV registrations could drop as much as 27% without the credit, prompting companies to fast-track promotions and sales efforts in the coming months.
Tesla Stock Wobbles on Battery and Political Headwinds
Tesla’s stock remains under pressure amid delays in Panasonic’s Kansas battery facility and increasing political controversy surrounding CEO Elon Musk. Although the stock saw a mild rebound, it remains down 2% for the week and 23% for the year. Slowing EV demand, reduced incentives, and an aging product lineup are all contributing to investor uncertainty.
EV Charger Tax Credit Remains but Faces Earlier Expiration
The federal 30% tax credit for residential and commercial EV charger installations—up to $1,000—is still active, but will now expire on June 30, 2026, instead of running through 2032 as originally planned. Experts recommend acting soon to take advantage, though many state and local rebate programs continue to offer additional savings.