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29 Sept 2021

Lucid to Begin Deliveries of Cost-Friendly Electric Cars in October

Lucid to Begin Deliveries of Cost-Friendly Electric Cars in October

The Index Today

Lucid Group Inc is expected to launch a new driving range of luxury electric sedans by late October. The firm aims to grow market share as rival Tesla suffers from declining sales.

The California-based vehicle company has set a target of 90,000 vehicles to be manufactured per year as it ramps up production levels at its Arizona factory. Customers will be able to buy the high-end Lucid Air Dream Edition by the end of next month which has already received 13,000 reservations.

Alongside the Dream Air Edition, other less expensive lines will be available for sale including Grand Touring, Touring and Air Pure. The start-up has set a price tag of $169,000 for its Air Dream Edition which has also received an official government rating of a 520 mile driving range. This is approximately 100 miles more than Tesla’s Model S.

CEO Peter Rawlinson said, “We’ve ridden customer of the fear of range anxiety. The next big obstacle is cost effectiveness of electric cars. We’ve got to get the cost down.”

Rawlinson began working with Lucid in 2012 after leaving Tesla and admits the new startup was in an uncertain state. However, after revamping the process, the company is now at a better stage where it can compete with major rivals. Lucid has stated its cars have a bigger edge in the market as they offer advanced battery technology along with lower costs compared to others.

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