Similar to Tesla's strategy with its early models such as the Roadster, Model S and Model X, Lucid launched its first production models, the Air sedan and Gravity SUV, at the higher end of the price range.
This approach was necessary for the company's economic viability. However, Lucid is now focusing on developing more budget-friendly models that will compete directly with Tesla's two best-selling models. By leveraging its advanced technologies, Lucid is confident that it can compete effectively with the electric vehicle leader.
“I’ve formally stated mid-late decade, and that has been completely misquoted as the end of the decade – 2030,” Rawlinson said of the launch date of the brand’s mid-size family while speaking with Autocar. “What I mean is ‘not 2025’. It’s a few years away, but it’s close. It takes three and a half years to do a car, and we’ve started… and that wasn’t yesterday.”
“The mid-sized [line] is going to be overtly a Tesla competitor – Model 3, Model Y,” he continued. “This is the first time I’ve ever said it: we’re going to compete in that market – high-volume family car.”
While specific details about Lucid's upcoming entry-level models are currently limited, it's worth noting that these vehicles will benefit from Lucid's battery technology, which was originally developed for the Air and is also used in the Gravity. This technology is expected to play a crucial role in making the entry-level models competitive in terms of performance and range.
“How can we compete?” Rawlinson asked. “Because we’ve got the most advanced technology, which means we can go farther with less battery, and the battery is the most high-cost item of an electric car. So if you can go a certain distance with less battery, you can make that car more cheaply than anyone else.”
In terms of pricing, Peter Rawlinson mentioned that the two upcoming Lucid models are expected to start at around $50,000. While this places them slightly above the price range of the Tesla Model 3 and Model Y, Lucid justifies this premium by emphasising a greater focus on luxury in its vehicles compared to its competitors.
Source: Autocar