On March 15, the company unveiled its latest model, the Lucid Air — a 1,000 horsepower luxury EV with a 507-km (315-mile) range that will cost upwards of $100,000. A lower-end model, with a 400 horsepower output and a range of 386 km (240 miles) starting at $52,500, will also be available. In contrast, Tesla’s Model S is priced at $71,200.
The EV also features automated driving systems designed to increase the safety and comfort of the driver. The Lucid Air is just one of the many self-driving cars in production as car manufacturers seek to change the way we drive.
Production is slated for late 2018 at the company’s manufacturing facility in Casa Grande, Arizona, just in time for Lucid Motor’s plans to introduce their EV in China, where they expect to see a rise in EV adoption as the country works towards strengthening emission standards.
Despite its potential to take Tesla head on, Lucid CTO Peter Rawlinson told Business Insider that Lucid Air is more likely to compete with luxury coupes like the Audi A6, the BMW 6 series, and the Mercedes-Benz CLS class.
The Future of EVs
Despite all the buzz surrounding the rise of EV adoption and its significant growth rate around the world, there are still only a handful of companies willing to take on Tesla — a brand now considered the benchmark of battery-powered automobilies. Tesla has played a major role in advocating for EVs as a way to combat climate change by reducing Greenhouse Gas emissions.
By far, only Faraday Future has overtly built up enough buzz surrounding their product, but even they are already struggling under the weight of their own hype. In addition, the economic incentives that helped EV gain a foothold among consumers are being put in peril given changes in state and federal tax regulations. These changes would ultimately give car manufacturers fewer motivations to produce sustainable vehicles.
But while the leaders of Lucid Motors certainly have their work cut out for them, they are optimistic that they are in a better position to achieve what others couldn’t.