- Following an impressive rise in quarterly vehicle delivery figures, American EV startup Lucid Motors looks to be on a clear path of growth, as it aims to enter more markets in the coming years.
- After receiving an additional $1.5 billion in funding from the Saudi Arabian Public Investment Fund last year, Lucid is gearing up to launch a more affordable EV model to complement its existing lineup of two vehicles: The Lucid Air and Lucid Gravity.
- Could 2026 see another year of growth for Lucid Motors?
Lucid Motors becomes an increasingly relevant player in the EV sector
Rising EV sales
Early last month, Lucid Motors revealed its Q2 delivery results, setting a record figure of 3,309 EVs delivered. That’s a 38% year-on-year rise, compared to the 2,394 EVs delivered in Q2 of 2024. The record figures came as Lucid offered discounts on its Lucid Air of up to $31,500, compared to its original retail price. The entry-level Lucid Air ‘Pure’ now starts from $70,900 in the U.S., putting its starting price well below a key American rival, the $84,990 Tesla Model S.
New advertising campaign
Last week, Lucid Motors also launched a new marketing campaign, appointing Timothée Chalamet, the actor from movies such as Dune and Interstellar, as its Global Brand Ambassador. After he was first spotted driving a Lucid Air back in 2023, Lucid Motors will use this partnership to extend the cultural relevance of its brand – with an advertising campaign starring Chalamet launching later this year.
Akerho “AK” Oghoghomeh, Senior Vice President of Marketing at Lucid Motors, commented on Chalamet’s appointment:
“We’re excited to welcome Timothée as our first Global Brand Ambassador. He brings together the same fearless creativity and uncompromising vision that defines our brand, embodying what it means to compromise nothing, both on and off screen. Together, we’ll show what’s possible when innovation and cultural relevance come together to move the world forward.”
Sales territories
Currently, Lucid Motors sell its EVs across a number of regions, including North America, Gulf states such as the United Arab Emirates and Saudi Arabia, and Germany, Switzerland, Norway, and the Netherlands in Europe. Whilst specific timeframes haven’t yet been set, European countries such as Belgium and the UK are also set to see Lucid EVs on the roads in the future. The UK will require right-hand-drive vehicles, which could enable Lucid to sell in to other right-hand-drive territories across the world such as Japan and Australia.
New models on the horizon
Lucid currently sells just two models, its Air saloon and Gravity SUV, but that is set to soon be joined by another, more affordable electric SUV, which has been spotted in trademark documents listed as the ‘Lucid Earth’. On previous earnings calls, Lucid have hinted at this being a high-volume EV with a sub-$50k starting price, allowing it to compete with vehicles such as the best-selling Tesla Model Y.
