This strategy has enabled some packaging efficiencies, and company officials say that these core technologies were developed to enable cost-effective mass production.

Lucid Motors enters the fray with a platform, battery, motor, and electronics that were designed in-house, all with an emphasis on compact design. For now, the elite Air takes aim at the $100,000 club, where established players are competing for slices of a small sales pie. The automaker announced plans that follow what has become a trend for startup electric car companies: Launch with a premium, high-dollar sedan, follow with an SUV, and then roll out more affordable models. Priced in the ultra-luxury segment that is home to the BMW 7 Series, Mercedes-Benz EQS, and Tesla Model S, the Lucid Air electric sedan will compete based on power, range, and opulence. The Dream Edition Performance and Grand Touring trims have a range of 469 to 516 miles, depending on wheel fitment.

And it is sold out, with no plans to make any more.īut there are several other, less exclusive versions available. That 933-hp version of its upcoming Air sedan, when fitted with 19-inch wheels, is rated at 520 miles. The automaker has a second model in the works, with the Gravity SUV slated to enter production in 2024.Īre you optimistic Lucid will substantially ramp-up EV production at its Arizona plant, building more than 10,000 vehicles this year? Please comment below.Lucid Motors, based in Silicon Valley, claims the honor of selling the first electric car with an EPA-estimated range of over 500 miles, with its $169,000 Lucid Air Dream Edition R.

The Air sedan's top range EPA rating of 520 miles in some of its models has provided bragging rights for Lucid, as other automakers have begun aiming for similarly high ranges out of reach at the moment. The first examples of the Lucid Air, dubbed Dream Edition, debuted with a $169,000 price tag, but the automaker is expected to roll out relatively more affordable variants of the luxury sedan, with a starting price around $78,900. 'We estimate that the location of our first international manufacturing plant in the Kingdom of Saudi Arabia may result in up to $3.4 billion of value to Lucid over 15 years.' 'Today we announced plans to build a brand new manufacturing facility in the Kingdom of Saudi Arabia,' House said. House said Lucid remains on track to 'quadruple' the size of it Casa Grande plant in Arizona, although the slow production ramp-up suggests there's no hurry for new brick-and-mortar. 'We continue to invest in our business we met our target of opening 20 Studio and Service locations in North America in 2022 we will expand our footprint in Europe and the Middle East while laying the foundation for a later expansion into the Asia Pacific,' Lucid CFO Sherry House said. However, the plant will not be ready until the middle of the decade, and would still require plenty of investment to bring online.ĭreamDrive Is Lucid’s Answer to Tesla’s Autopilot The automaker did have some positive news this week, revealing plans to open a second assembly plant, this time in Saudi Arabia. Even a 20,000-unit annual production schedule places Lucid in a vastly different category as established automakers offering EVs at the moment. News of the dramatic cut to its 2022 production outlook has already dinged Lucid stock today.Įven though Lucid currently offers a model that competes with the Tesla Model S, among others, it is a long way from matching Tesla's annual volume, which in 2021 amounted to over 930,000 delivered cars. Taken at face value, the substantial reduction in the projected number of cars assembled this year represents a 40% cut if Lucid manages to build 12,000 vehicles, which appears unlikely. The pace of production will need to quicken substantially over the coming months for Lucid to achieve even the lower end of its 12,000-car goal for this year.

Lucid motor stock