Tesla’s technology is no match for what electric vehicle startup Lucid Motors is cooking up, CEO Peter Rawlinson says. “Clearly we have the best technology in the world. We’ve now taken the mantle from Tesla — we have the best tech,” .
“We’ve taken the mantle. Without a doubt.” It’s that Rawlinson has touted his firm’s tech — and it probably won’t be the last.
The CEO told Yahoo that Lucid’s rival, and, in his opinion, the former tech leader, has become “distracted.” Rawlinson said the addressable market for Lucid’s upcoming will be six times larger than that of its Air luxury sedans. Currently, the Air sedan is the Californian firm’s only vehicle up for sale.
Although Lucid set in both its first and second quarters of the year, deliveries are below its previous estimates of 10,000 annually. Lucid has said it’s on track to make 9,000 sedans this year. The Gravity is expected to cost less than $80,000 when it hits the market.
In an interview with at the Pebble Beach Concours d’Elegance, Rawlinson said the first Gravity buyers should get their SUVs by the end of 2024, with full production at the company’s factory in Arizona launching through the beginning of 2025. A mid-size model is also in the works for a launch toward the end of 2026. Rawlinson recently to demonstrate its developing technology, highlighting that the Lucid Air Pure is the production car in the world.
The CEO also compared development of the Air’s technology to that of rivals like Tesla’s Model S — which Rawlinson worked on as chief engineer in the early 2010s — and the Porsche Taycan. “If the closest competitor were to continue their rate of progress, it would take many years to match Lucid today,” Rawlinson wrote. Despite Rawlinson’s confidence, Lucid has struggled in recent years to maintain its coffers.
The startup in May as part of a restructuring. Earlier this month, the firm reported a second-quarter net loss of $790 million, although revenue grew 33% year-over-year. Ayar Third Investment, an affiliate of , also agreed to commit $1.
5 billion to provide Lucid with “sufficient liquidity” into the fourth quarter of 2025, interim CFO Gagan Dhingra said. In March, Lucid said it would from Ayar. 📬 Sign up for the Daily Brief Our free, fast, and fun briefing on the global economy, delivered every weekday morning.
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