Lucid Motors, known for its premium electric vehicles like the Air sedan and Gravity SUV, is actively developing an affordable electric car targeted at the market segment dominated by Tesla’s Model 3 and Model Y, according to Lucid CEO Peter Rawlinson.
Rawlinson clarified that the company is aiming to release the cost-effective electric vehicle (EV) by the mid-to-late decade, disputing some misinterpretations suggesting a 2030 timeline. He stated, “What I mean is ‘not 2025.’ It’s a few years away, but it’s close,” emphasizing that development has already commenced.
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The new EV lineup is positioned as a direct competitor to Tesla’s high-volume family cars, the Model 3 and Model Y. Rawlinson, formerly involved in developing the Tesla Model S, emphasized Lucid’s commitment to leveraging advanced technology to enhance efficiency, allowing for greater range with less battery usage.
Lucid’s existing premium models, the Air sedan and Gravity SUV, have starting prices around $80,000. Rawlinson expressed the company’s strategic move towards an affordable EV, stating, “I am not here to build an expensive car that only rich people can afford.” He highlighted Lucid’s unique advantage in developing cars more cost-effectively due to their advanced technology allowing for greater efficiency.
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Lucid’s Air electric sedan, known for its impressive range of up to 516 miles, stands out in the electric vehicle market, attributed to the company’s proprietary powertrain components, battery chemistry, and design. Additionally, Lucid recently entered a strategic tech partnership with Aston Martin to collaborate on electric performance cars, contributing its high-performance twin-motor unit, battery tech, and Wunderbox charging system.
