Lucid Motors, in its Q1 earnings call this week, hinted at a future electric vehicle (EV) poised to rival the Tesla Model Y, adding to its lineup that already includes the impressive Air sedan and the upcoming Gravity SUV.
CEO Peter Rawlinson, during the earnings call, highlighted the Gravity SUV, scheduled to commence production later this year, and an upcoming mid-size model, expected to be priced around $48,000 and to enter production in late 2026. When asked by an investor about plans for an affordable EV to compete with Tesla, Rawlinson suggested that the mid-size vehicle would play a pivotal role in taking on the EV giant.
āWeāre already competing with Tesla,ā Rawlinson stated. āBut, wait until our mid-size comes out in late ā26; thatās when weāll have a car at $48,000-$50,000, and that is the big one, the one thatās going to be really exciting.ā
The teased vehicle was showcased on Lucid’s earnings deck timeline ahead of the call, highlighting the companyās product roadmap for the coming years. The mid-size vehicle is expected to not only be a significant launch after the Gravity but also help reduce costs, thanks to Lucidās focus on maximizing its efficiency.
āIām confident that we can achieve unrivaled levels of efficiency for this crucial mid-size class vehicle,ā Rawlinson emphasized during the call. āAnd again, I canāt stress enough that efficiency is the key to a small battery for any given range. And a small battery is a key element to lowering costs when it comes to making an EV.ā
Rawlinson also expressed his anticipation, stating, āI canāt wait to show you our mid-size game changer.ā
Preparations are underway at Lucid’s factory in Casa Grande, Arizona, for the production of the Gravity SUV later this year. The company also highlighted its partnership with Aston Martin during the call, along with discussing its Q1 production and delivery numbers, which were released last month.
