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Reading: Lucid to develop a $50k EV to compete with Tesla in North America by “mid- to late decade”
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EV-a2z > News > Lucid to develop a $50k EV to compete with Tesla in North America by “mid- to late decade”
News

Lucid to develop a $50k EV to compete with Tesla in North America by “mid- to late decade”

EV-a2zm
Last updated: 2023/09/06 at 10:14 PM
EV-a2zm Published September 6, 2023 7 Min Read
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Chicago - Circa October 2022 Lucid Air Touring sedan display at the Service Center. Lucid Motors is a manufacturer of luxury EV Electric Vehicles.
Chicago - Circa October 2022 Lucid Air Touring sedan display at the Service Center. Lucid Motors is a manufacturer of luxury EV Electric Vehicles.
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American luxury electric automaker Lucid Motors disclosed its target of producing a $50,000 electric vehicle model to rival the popular Tesla Model Y and 3 in the North American market.

Contents
Affordability and efficiency Lucid’s electrification strategyWould Lucid adopt Tesla NACS?

Think @LucidMotors's electric cars are pricey? You might get a $50K one in 2030!

Lucid Motors, known for pricey models like the Lucid Air and Gravity SUV, aims to make EVs more affordable. CEO Peter Rawlinson recognizes cost as a barrier to widespread adoption.

Rawlinson's… pic.twitter.com/lXefBmTB5J

— EV.com⚡️ (@EVcom) September 5, 2023

Lucid Chief Peter Rawlinson told ABC News that the company aims to develop affordable models with efficient batteries to urge customers to join the shift to clean mobility.

Affordability and efficiency 

CEO Rawlinson strongly believes that low-cost EV models with compact and efficient battery packs will encourage American customers to shift away from their conventional internal combustion engine-powered cars.

“The key obstacle to widespread adoption in the U.S. and worldwide is the entry price point of an electric car. I am profoundly aware that we need to push the price down so more people can afford electric cars. This is critically important.”

Lucid CEO Peter Rawlinson

He also elaborated on the difference between battery and vehicle efficiency, saying that the latter is another key factor that impeded EV adoption in the region.

“There are a number of factors that are going to drive that. One is economy of scale of the battery itself, which is the most expensive part of an electric car. There is another factor that almost no one is taking about: vehicle efficiency. And that’s not battery efficiency — battery efficiency is a misnomer. There is almost no such thing as battery efficiency. The best analogy I can make is miles per gallon in a gasoline car. Mpg is not a function of the size of the gas tank. It’s a function of the efficiency of the vehicle’s gasoline engine.”

Lucid CEO Peter Rawlinson

He further emphasized the satisfaction of driving an electric vehicle as one of the selling points of the technology.

“Most people still haven’t gotten behind the wheel of an electric car. They’re unaware that it’s actually a better, more pleasurable, more responsive and more engaging driving experience.”

Lucid CEO Peter Rawlinson

Lucid’s electrification strategy

Based on Lucid CEO’s remarks, the company seems well aware of major obstacles to wider EV adoption.

True enough, CEO Rawlinson stated plans to develop and produce a model that costs below $60,000 as its Air Pure currently starts at $82,400.

Lucid Air Pure Interior is just 🔥
I don’t think I would consider a Model S even for $59,000. Drove one and it was a squeak and rattle machine. This is like a finer tuned Steinway! pic.twitter.com/NN8zQdxz4j

— Nick (@TheAppleCore) September 5, 2023

“We are targeting a price — and don’t hold me to this — around $50,000. That’s the vision. Right in the heart of Tesla Model 3, Model Y territory. I wish I could go to a lower-price car but it’s the best this company can do in this mid- to late decade time frame.”

Lucid CEO Peter Rawlinson

He explained that the company only initially offered expensive models, which is crucial to ensure business operability and gain investments.

Now, the company is actively working on a technology that will unlock “greater efficiency.” CEO Rawlinson even disclosed intentions to license that technology to other automakers.

Moreover, he admitted that the $50,000 EV target is just a starting point for the company to achieve real affordability.

“What the world needs of course is the $25,000 electric car. I think that can come as a consequence of the technology we’re developing today. And we’re doing that with a sense of utmost urgency.”

Lucid CEO Peter Rawlinson

Would Lucid adopt Tesla NACS?

The publication asked the Ludid boss if it would also join the growing NACS family, which already enlisted major automakers like Ford, GM, and Rivian, among others.

CEO Rawlinson responded that the company may consider it, saying he was the team leader for the NACS plug design.

“We are very open-minded. We consider everything. I am a proponent of having a unified standard — but it has to be future proof. That means it should be high voltage, a thousand volts. The lions share of the Tesla grid today is not high voltage. If the U.S. public is going to pay with tax dollars we should have a standard. And I am fine with the NACS plug, I led the team that designed that plug when I was at Tesla.”

Lucid CEO Peter Rawlinson

See Also:

  • Lucid releases Air Sapphire’s final specs with a 427-mile range
  • Lucid CEO sets sights on expanding luxury EV tech business with Aston Martin deal
  • Lucid Air overthrows Tesla Model S as US’ fastest-charging electric car
  • Lucid is under competitive pressure from Tesla
  • Lucid launches Apple CarPlay on every Air model in the latest over-the-air update

Despite targeting the Tesla Model Y and 3, Lucid CEO Peter Rawlinson emphasized that he does not aim to overthrow the Musk-led company. 

“When the Model S came out, the thesis was there is no market for electric cars. Guess what? There wasn’t because no one had done a good electric car. So there wasn’t a market because no one could buy one. Now there’s this perception that Tesla is the market for electric cars. No — there’s a market for great cars.”

Lucid CEO Peter Rawlinson

Which would you rather have and why?

Tesla Model S LR AWD $74,990
OR
Lucid Air Pure AWD $82,400

Tesla has 405 miles of range, Lucid has 410 miles.
Tesla 0-60 is 3.1 while Lucid is 3.8. pic.twitter.com/hcFnaePP3o

— Zack (@BLKMDL3) September 3, 2023

The CEO expressed strong confidence in Lucid’s products, saying these are enough to urge customers to replace their conventional cars with Lucid Air.

Below are the key specs of the Lucid Air variants:

Key SpecsGrand TouringTouringPure
Price²From $125,600From $95,000From $82,400
Max power⁴1,050 hp620 hp480 hp
0-60 mph3.0 secs3.4 secs3.8 secs
EPA-est. range up to¹516 mi425 mi410 mi
Approx. minutes to charge 200 miles³12 mins15 mins15 mins
Drive typeDual-Motor AWDDual-Motor AWDSingle-Motor RWD
(Optional Dual-Motor AWD)

Source: Lucid Motors

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TAGGED: Electric Vehicle, EV, Lucid Air, Lucid Motors, North America
EV-a2zm September 6, 2023 September 6, 2023
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