How Lucid Motors Will Take on EV's Juggernauts: Tesla and China

The company is behind on its goal to sell 9000 vehicles this year and lost $685 million in the first quarter.However, Lucid CEO Peter Rawlinson says the headlines don’t tell the full story. “There's a temporary lull in the uptake of EVs and there are a number of reasons for that,” he acknowledged during an interview at the 2024Future of the Car summit in London. “One is too many people have had a rather inadequate experience from inadequate products.

Rawlinson says it’s wrong to assume Lucid will remain a niche player selling expensive EVs in relatively limited numbers. “I don’t think we’ve given a good enough message that we’re on a mission. We've got huge ambitions to be a major volume player. We're developing the best technology in the world to push down the price of EVs so more people can transition .”, Rawlinson says.

Rawlinson claims the rear-drive Lucid Air Pure can travel 4.74 miles for every kilowatt hour of energy consumed from its battery, which means it can travel the same distance as a Mercedes-Benz EQS using just two-thirds the electrical energy. “I think we can get to five miles per kilowatt hour within the next 18 months,” he says. “The vision I have— what's going to save the planet—is the six miles per kilowatt hour car. I think we can do that in the next three years.

The new mid-sized Lucid will be a $50,000 car, which is just above the average MSRP for a new car sold in the U.S. last year. “I don't aspire for us to do the $25,000 EV,” Rawlinson says. “But I think the enabler could from us.” Rather than build millions of EVs under the Lucid brand, Rawlinson wants to license Lucid’s technology to other automakers, and have them build millions of Lucid-powered EVs. “Just like you've got Intel inside a laptop, you can have Lucid inside powering another brand's vehicles,” Rawlinson says.to build battery modules and drive units complete with motors, inverters, and transmissions in Arizona, for shipment in the U.K.

Source: News Formal (newsformal.com)

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