{"id":2287,"date":"2025-03-21T18:56:20","date_gmt":"2025-03-21T18:56:20","guid":{"rendered":"https:\/\/nationalgunowner.org\/index.php\/2025\/03\/21\/ev-makers-polestar-and-lucid-are-cashing-in-on-the-tesla-backlash\/"},"modified":"2025-03-21T18:56:25","modified_gmt":"2025-03-21T18:56:25","slug":"ev-makers-polestar-and-lucid-are-cashing-in-on-the-tesla-backlash","status":"publish","type":"post","link":"https:\/\/nationalgunowner.org\/index.php\/2025\/03\/21\/ev-makers-polestar-and-lucid-are-cashing-in-on-the-tesla-backlash\/","title":{"rendered":"EV Makers Polestar and Lucid Are Cashing In On the Tesla Backlash"},"content":{"rendered":"
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Polestar is offering a \u201cconquest bonus\u201d that saves Tesla owners $5,000 off of leasing its Polestar 3 model. Jacek Boczarski\/Anadolu via Getty Images<\/span><\/figcaption><\/figure>\n

Amid declining stock price, political backlash and investor apprehension, Tesla (TSLA)<\/a> is currently facing one of the worst crises in its 22-year history. For less established rivals like Lucid<\/a> and Polestar<\/a>, however, it\u2019s a prime opportunity to cash in. The two EV companies are offering discounts specifically targeted at Tesla owners, many of whom are looking to distance themselves from Elon Musk<\/a> and his political views. \u201cCalling all Tesla owners<\/a>,\u201d reads one such offer from the Sweden-based Polestar, which is urging customers to \u201cmake the switch to Polestar\u201d and gain a $5,000 bonus in return.<\/p>\n

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In recent months, Musk\u2019s growing political prominence has garnered widespread backlash against Tesla. Its stock price has fallen by a staggering 50 percent since hitting a record high in December. Anger towards Musk\u2019s cost-cutting efforts as head of the Trump administration\u2019s Department of Government Efficiency (DOGE) has led to dealership protests, vandalized vehicles and longtime Tesla investors calling for Musk to step down as CEO of the automaker<\/a>.<\/p>\n

It has also allowed Tesla\u2019s competitors to capitalize off of the moment. On Feb. 21, Polestar began trialing a \u201cconquest bonus\u201d that saves Tesla owners $5,000 off of leasing its Polestar 3 model. In addition to a $15,000 clean vehicle incentive, this brings the price of its vehicle down by $20,000 in an offer that will be available until the end of March. Participants don\u2019t have to trade in their Teslas, although they must provide evidence that they currently own or lease a vehicle from the Musk-helmed company.<\/p>\n

The program has been a hit. Polestar customer handovers during the last week of February accounted for 60 percent of the company\u2019s monthly handover total, a Polestar spokesperson told Observer. A handover is when a car is handed over to customers\u2014the final stage of buying or leasing a car. \u201cThe numbers speak for themselves<\/a>,\u201d said Jordan Hoffman, the company\u2019s U.S. head of sales, in a LinkedIn post last month, adding that \u201cthe response to our Tesla Conquest Offer has been incredible.\u201d<\/p>\n

Offering a similar bonus is the California-based Lucid, which is currently running a Tesla trade-in allowance program of $2,000. The incentive began this week and will run through the end of the month, confirmed a Lucid spokesperson to Observer. The new bonus is in addition to a broader, pre-existing conquest offer for customers of Tesla and other car brands like Audi, BMD and Volvo, which provides another $2,000 discount off of leasing or buying one of the company\u2019s 2025 Lucid Air models.<\/p>\n

Tesla did not respond to requests for comment from Observer.<\/p>\n

In a bid to ease the spooked nerves of customers, employees and shareholders, Musk yesterday (March 20) held an unexpected all-hands Tesla meeting from the company\u2019s Austin headquarters. In addition to laying out his roadmap for the carmaker\u2019s eventual pivots into A.I. and robotics, Musk reassured investors to \u201chang on to your stock\u201d and derided recent attacks on Tesla vehicles.<\/p>\n

\u201cThere are times when there are rocky moments,\u201d said Musk during the meeting, which was live streamed on his social media platform X. \u201cBut what I\u2019m here to tell you is that the future is incredibly bright and exciting, and we\u2019re going to do things that no one has dreamed of.\u201d<\/p>\n

\t\t\t\t\"EV<\/p><\/div>\n