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.
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.
“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
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 Specs | Grand Touring | Touring | Pure |
| Price² | From $125,600 | From $95,000 | From $82,400 |
| Max power⁴ | 1,050 hp | 620 hp | 480 hp |
| 0-60 mph | 3.0 secs | 3.4 secs | 3.8 secs |
| EPA-est. range up to¹ | 516 mi | 425 mi | 410 mi |
| Approx. minutes to charge 200 miles³ | 12 mins | 15 mins | 15 mins |
| Drive type | Dual-Motor AWD | Dual-Motor AWD | Single-Motor RWD (Optional Dual-Motor AWD) |
Source: Lucid Motors
