Written by Cláudio Afonso | Info@claudio-afonso.com | LinkedIn | X
On Monday, Peter Rawlinson, CEO of the electric vehicle manufacturer Lucid Motors, announced that the company’s midsize model will enter production in late 2026, with a price expected to be around $48,000.
Answering to a question from a retail shareholder at the earnings conference call, Lucid‘s CEO and CTO said, “We need to get a midsized vehicle, our volume vehicle price at around, we believe, about $48,000, get that into production and is on schedule for production for late 2026”.
Later in the call, Rawlinson reiterated the price range while teasing that the model will be “the big one, the one that’s going to be really exciting”.
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“But wait until our midsize comes out late 2026. That’s when we’ll have a car, $48,000, $50,000 and that is the big one, the one that’s going to be really exciting,” Rawlinson added.
Regarding Lucid’s next model the SUV Gravity, Lucid CEO confirmed that the production will start late this year while commenting the total addressable market when compared to the luxurious sedan Air.
“The gravity SUV program is scheduled for start of production late this year,” Lucid CEO Peter Rawlinson confirmed adding that the SUV’s “total addressable market is six times larger than the market we could access in 2023”.
Following the report, a SEC filing revealed that Michael Bell, the Senior Vice President of Digital, has resigned from his position with immediate effect.
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In the first quarter of the year, the EV maker produced 1,728 units of its Air luxury sedan with deliveries reaching 1,967 vehicles, an increase of 39.9 percent compared to the same period of last year.
The company has reiterated its annual production guidance of “approximately 9,000” units, which would represent a slight increase from the 8,428 vehicles produced in 2023.
Earlier in the day, Lucid announced on X that the Lucid Air now comes with a $1,000 Charging Allowance toward the purchase of Lucid charging accessories, and up to two years of complimentary scheduled maintenance.
Last month, Lucid Motors signed a partnership with the electric vehicle (EV) charging company Wallbox to provide chargers to its European customers.
Written by Cláudio Afonso | Info@claudio-afonso.com | LinkedIn | X
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