Electric vehicle manufacturer Lucid has clarified its future strategy, dismissing the possibility of launching a $20,000 EV under its brand. Speaking on The Wall Street Journal’s Bold Names podcast, CEO Peter Rawlinson stated, “No, because that market sucks,” emphasizing the low-margin nature of the mass-market EV segment.
Despite this, Rawlinson highlighted the company’s potential to enable cheaper EVs indirectly through technology licensing. “Regarding a $20K or $25K EV, our advanced tech will enable that tomorrow,” he said, adding that other automakers with established manufacturing networks could adopt Lucid’s innovations to produce such vehicles.
Lucid’s focus remains on the premium and midsize EV markets. The company plans to launch its midsize SUV, priced at approximately $50,000, in 2026, positioning it as a direct competitor to Tesla’s Model Y. “Because of our technological advantage, we should be able to make that car with its competitive range but with less batteries than anyone else,” Rawlinson asserted.
Meanwhile, Lucid’s flagship luxury sedan, the Air, continues to gain traction, outselling competitors like the Porsche Taycan, Mercedes EQS, and even Tesla’s Model S in the U.S. during the third quarter. Lucid reported 1,944 Air deliveries in Q3, a 33% increase year-over-year, according to Kelley Blue Book.
Rawlinson dismissed claims of a slowdown in EV sales as a “false narrative,” pointing to Lucid’s record quarterly deliveries. He also reiterated the company’s mission to “advance the state of the art of EVs,” focusing on efficiency and cost reduction in battery technology to drive industry-wide innovation.
Looking ahead, Lucid plans to introduce its Gravity SUV later this year, with production starting at a base price of $94,000. A more affordable $80,000 version is slated for release in late 2025. The company recently secured $1.75 billion in capital, which it says will fund operations through 2026, aligning with its midsize model launch timeline.
“Lucid is commercially viable in the future,” Rawlinson said, adding that its strategic focus and technological leadership will set it apart from competitors.
