Lucid Motors, Launching on Nasdaq, Changes Definition of Luxury EV

By Paul Riegler on 27 July 2021
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The 2021 Lucid Air

Tesla competitor Lucid Motors celebrated its debut on the Nasdaq Monday with fanfare worthy of the best of television game shoes, including the appropriate amount of confetti for a company with a market value of roughly $43 billion that has yet to sell a single vehicle.

While there are many comparisons that have been made with Tesla – the company’s CEO Peter Rawlin led the development of the Tesla Model S – one difference is that Lucid’s vehicles look like cars versus somewhat ungainly appliances that convey one from point A to point B. 

Lucid’s first vehicle, the Lucid Air, is built on the automaker’s LEAP or Lucid Electric Advanced Platform, and some variants will have an industry-leading range of 517 miles (832 kilometers) when equipped with the extended-range option.

Production is slated to start in the next few months, Lucid said.

The launch edition – dubbed the Lucid Air Dream – will cost $169,000, but the sub-$80,000 Air is scheduled to be available in 2022.  Two other variants, the Air Touring and the Air Grand Touring, are planned to be available in 2021as well. The Dream Edition is a dual-motor all-wheel-drive model that can develop up to 1,080 horsepower with a 0-60 speed yet to be determined.  All Lucid models should qualify for the $7,500 federal tax credit.

Lucid’s secret sauce is the efficiency of its electric powertrain, which will offer a range of more than 4.5 miles (7.2 kilometers) per kilowatt-hour, besting Tesla at its own game, which is a little over 4 miles (6.4 kilometers) per kilowatt-hour.  None of the legacy automakers – the Audis, Jaguars, and Volkswagens – have yet to come close to these figures.

The elegant look of the Air, with its trademark glass canopy roof and polished satin platinum finish aluminum trim, is complemented by an interior befitting a luxury automobile, with fine Nappa grain leather and a floating 34” curved glass cockpit as well as a retractable central display, dubbed the Pilot Panel.

Tesla has created an environment where EVs are known for Spartan interiors and questionable fit and finish.  If the final Lucid product is as good as what Lucid has shown the motor press thus far, it may be game over.

(Photo: Accura Media Group)