Lucid is on schedule to launch its midsize electric SUV in 2026, company executives said on Tuesday, as the U.S.-based electric vehicle manufacturer seeks to gain ground in a growing segment led by Tesla’s bestselling Model Y.
“There are a lot of crazy things going on in the world that can affect that [timeline]. But currently we are on track,” said Derek Jenkins, Lucid’s senior vice president. The planned SUV, priced around $50,000, is set to compete directly with other mainstream electric crossovers including the Ford Mustang Mach-E, Hyundai Ioniq 5, and the upcoming Rivian R2.
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The automaker, which is backed by Saudi Arabia’s Public Investment Fund (PIF), is moving forward with manufacturing plans. Emad Dlala, senior vice president at Lucid, said teams are already working on assembly lines and coordinating with vendors to support the upcoming launch. Lucid began producing its larger Gravity SUV in Arizona last year, with the premium Grand Touring trim now available for customer orders. A more affordable Touring variant is expected to debut later this year starting at $79,900.
Lucid, like other automakers, faces potential headwinds from the Trump administration’s proposed 25% tariffs on foreign imports. However, interim CEO Marc Winterhoff said the company is taking proactive steps to mitigate cost pressures by securing domestic supply chains. “We have those agreements already. The plants are being built right now, so it’s not something that we can switch on today, but it’s in the near future,” he told Reuters, referring to deals with U.S.-based battery cell and graphite suppliers.
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The company anticipates increased demand for the Gravity SUV to help double its production volume in 2025 to approximately 20,000 vehicles. Lucid’s former CEO Peter Rawlinson, who previously served as chief engineer at Tesla, stepped down in February after more than five years at the helm.