Lucid, which was founded by a former Tesla engineer, plans to offer a car to rival the Tesla Model 3 by 2024. It will first focus on its luxury entry into the car market with the Lucid Air. This follows the same plan as Tesla took after the launch of the Model S. The luxury car skyrocketed the brand into the public eye and this enabled it to then work on more affordable options such as the Model 3.
Peter Rawlinson, Lucid’s chief executive, told Reuters: “To make a smaller car requires more capital, because you need a bigger factory and more automation.” He later added that he couldn’t wait to do that. Lucid Motor’s first electric car, the Air, won’t go into production until later this year but following that, the company expects to produce a sub-$70,000 (£50,000) version of it in 2022. This will be followed by the ‘Project Gravity’ sports car in 2023.
The Air Dream Edition was originally scheduled to begin deliveries this spring but this was pushed back following a merger with SPAC Churchill Capital Corp IV. Rawlinson said they were originally pushing hard to make the spring delivery date but decided it was worth taking the time to get the Air right.
Lucid doesn’t want to rush the Air or any future vehicles. It’s taking its time to develop something it calls “Platform II”, a new architecture that will enable it to produce an affordable car.
The Air will launch first in the Dream Edition trim, which will have a range of 517 miles, according to Lucid. It features two electric motors to make 1,080 horsepower, a 113 kWh battery pack, and will cost $169,000 (£121,000). These are expected to be delivered in Q3 this year with other trim levels to follow.