Soon after Lucid Motors announced the launch of their luxury $69,900 electric car Elon Musk announced that the Tesla Model S would have a price drop to $69,420. This undercuts Lucid’s price by over $500, and this announcement came after Tesla had dropped the price of the Model S by $3,000 only a week earlier.
The battle between the Californian electric car makers appears to on, but ultimately it can only be good for the end consumer if it means cheaper electric car prices. Both Tesla’s Model S and the base model Lucid Air are aimed at similar customers in the luxury electric car space. Both have similar performance specs, although the Lucid Air does have a claimed range of 406 miles (653km), which is four miles more than the Telsa Model S.
The battle may also be fuelled by the fact that serval of the employees at Lucid Motors are former Telsa personnel. This includes Lucid’s CEO, Peter Rawlinson, who oversaw much research and development on Telsa’s original Model S, and Peter Hochholdinger, who is now the vice president of manufacturing at Lucid, worked on Tesla’s Model 3.