Lucid Group (LCID), long positioned as a luxury EV alternative to Tesla, just got its biggest boost in months. The irony is that it came from the very company it’s trying to beat.
Shares of Lucid jumped nearly 11% Tuesday after the company announced that its flagship Lucid Air sedan will gain access to over 23,500 Tesla Supercharger stations across North America starting July 31.
The access comes via a $220 adapter — the DC NACS to CCS1 — which Lucid will begin selling directly to customers.
“In addition to offering the longest-range electric vehicle available, Lucid is committed to offering our customers seamless and wide access to public charging,” said Emad Dlala, senior VP of Powertrain at Lucid.
Just a few months ago, Lucid’s interim CEO Marc Winterhoff was publicly taking aim at Tesla’s brand troubles. In an April interview with Fox Business, Winterhoff said 75% of Lucid buyers were new to the brand and about half were former Tesla owners.
“They’re looking for an option to not continue having a Tesla,” he said. “We have seen a dramatic uptick in the last two months.”
That uptick came as Elon Musk’s DOGE role in the Trump administration sparked political controversy and opened the door for rival EV makers to peel off Tesla loyalists.
But now, Lucid’s best perk — the ability to plug into Tesla’s vast charging network — is a direct result of Tesla’s own 2022 decision to open its charging standard to other automakers and push for what it dubbed the North American Charging Standard (NACS).
There’s a catch, though.
Lucid Air vehicles will only charge at up to 50 kW on Tesla’s 250 kW-capable Superchargers. That’s due to a voltage mismatch. Lucid uses a 924-volt system, while Tesla’s chargers operate at 400V, according to TechCrunch.
A Lucid spokesperson told TechCrunch the slower speeds aren’t a dealbreaker: it’s another option for road trips or drivers who live near Superchargers.
Despite being one of the last EV companies to sign onto Tesla’s connector system (Ford (F) partnered first in 2023), Lucid may still benefit from the charging upgrade.
This win comes on the heels of another major milestone, with the Lucid Air Grand Touring just setting a Guinness World Record for the longest EV drive on a single charge.
Lucid shares are up 3.6% year-to-dare and still riding Tuesday’s boost from the unlikeliest of allies.
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