- Lucid Motors CEO targets Tesla’s turf, unveiling plans for a new EV aimed at the family car market. Priced at around $50,000, it’s set to rival Tesla’s Model 3 and Model Y.
- It looks to distinguish itself from Tesla by prioritising superior quality control, learning from Tesla’s earlier challenges in fit and finish.
- Lucid Motors leads the EV market with record-breaking range. The Air Grand Touring, their current model, boasts over 500 miles, setting a U.S. EPA-certified record.
Lucid Motors set to challenge Tesla’s dominance with $50,000 electric luxury entry
Lucid Motors, known for its high-priced electric rides, like the $249,000 Air Sapphire, might seem years away from mass-market appeal. Skepticism is only natural. Yet, defying expectations, CEO Peter Rawlinson has hinted at an unexpected pivot. Lucid is eyeing the broader EV landscape beyond its elite offerings. Brace for a major shift as the California-based company is contemplating a move from hyper-luxury into the arena of the everyday electric car.
Speaking to Autocar, CEO of Lucid Motors, Peter Rawlinson, said:
“The mid-sized [EV] is going to be overtly a Tesla competitor – Model 3, Model Y. This is the first time I’ve ever said it: we’re going to compete in that market – high-volume family car.”
He also added that Lucid’s upcoming model is eyeing the $50,000 range, aligning closely with the Tesla Model Y’s current prices. On the flip side, for those eyeing the Tesla Model 3, taking advantage of federal and state-level tax credits can bring the cost comfortably below $30,000.
While Tesla faced initial challenges with quality, including reported fit and finish issues and panel gaps in the Model 3 and Model Y lineup, Lucid Motors has an opportunity to learn from these experiences. With a keen eye on quality control, Lucid aims to set itself apart from the outset by implementing rigorous standards for its upcoming models.
Lucid Motors could also gain a competitive edge in another crucial aspect: range. The Air Grand Touring has already secured the title of the longest-range EPA-certified electric car in the U.S., boasting an impressive 500+ miles. Leveraging its background as a former battery company, Lucid aims to capitalise on its expertise to target industry-leading range figures for its smaller car models, recognising the pivotal role range plays as a potential deal breaker for consumers in the electric vehicle market.
As Lucid charts its course towards a more inclusive EV market, the echoes of its luxury past remain. The shift from hyper-luxury to the realm of everyday EVs is not just a deviation from the norm; it is a bold statement of adaptability and a challenge to the status quo. Lucid is at the forefront of a new narrative – one that defies expectations, redefines industry boundaries, and invites us all to witness the electrifying evolution.