Lucid plans for Tesla Mannequin 3 and Y competitor at ‘decrease price’

Lucid mentioned it’s planning to launch an electrical car that can be priced at a decrease price to compete with the Tesla Mannequin 3 and Mannequin Y, however the place the corporate plans to cost it appears attention-grabbing.

Lucid has been constructing EVs since 2021 when it unveiled the Air lineup. With decrease prices and extra customization deliberate for subsequent yr with that mannequin, it additionally plans to roll out the Gravity SUV within the coming years.

The excessive prices related to early EV fashions align with what trade chief Tesla did within the late 2000s with the unique Roadster. The early automobiles are considerably of a fundraiser for later tasks and have led to subsequent fashions with barely cheaper price factors than beforehand.

Lucid Gravity SUV unveiled: 440+ miles of vary, underneath $80k, late 2024 manufacturing

That’s primarily Lucid’s gameplan, in keeping with CEO Peter Rawlinson’s latest interview with Autocar, as it’ll launch an EV that may be a decrease price than earlier fashions however not fairly as little as many would anticipate.

Rawlinson mentioned that Lucid has “to go together with quantity, as a result of that’s what we’re about.”

But it surely mentioned that its value level is $50,000, or roughly £40,000, which might be a decrease price than what it gives for the Air sedan, however would nonetheless be priced greater than essentially the most inexpensive variations of Tesla’s Mannequin 3 or Mannequin Y.

Bringing prices right down to $50,000 for Lucid could be a giant transfer for them, nevertheless it additionally would have its least costly car going up towards Tesla’s costliest variations of its quantity automobiles. On high of that, Rawlinson mentioned that, whereas Lucid has already began engaged on the car, it won’t come till after 2025.

Tesla, together with different firms, will seemingly have extra inexpensive automobiles by then. Tesla may have its $25,000 EV unveiled and on its method to manufacturing. Different firms, like Rivian, Ford, and GM, which has already unveiled a sub-$30,000 EV within the Chevy Bolt, will even seemingly have extra inexpensive choices by that point.

Tesla mega-bull Ron Baron has an aggressive timeline for $25k EV

Lucid is reaching for a extra luxurious automobile purchaser base, and folks know they’ll pay a premium for its automobiles. Nonetheless, $50,000 is perhaps a value that is just too excessive for some to think about, particularly as rivals which have already proven their automobiles are environment friendly and strong when it comes to tech can be unveiling new, maybe revolutionary, merchandise by the point Lucid is simply getting to supply its first “inexpensive” EV.

Whereas the Mannequin 3 and Mannequin Y may hypothetically be priced the identical as at the moment when Lucid’s mass-market EV comes out (though we really feel it’s most likely a lofty expectation), Rawlinson mentioned it has just a few issues to supply that Tesla can not.

“…we’ve bought essentially the most superior expertise, which suggests we will go farther with much less battery, and the battery is essentially the most high-cost merchandise of an electrical automobile. So in case you can go a sure distance with much less battery, you may make that automobile extra cheaply than anybody else.”

Lucid will even ultimately find yourself in the UK, and Lucid will “completely” provide fashions exterior of the Air within the area.

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Lucid plans for Tesla Mannequin 3 and Y competitor at ‘decrease price’

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