That $20,000 luxury Lucid EV you’ve been waiting for will likely never hit the market. CEO Peter Rawlinson said (LCID) has no plans to launch a $20K vehicle. However, it could play a role in bringing cheaper EVs to market.
After its third straight quarter of , Lucid is gaining traction. The EV maker is now outselling its German luxury rivals in the US, including the Porsche Taycan and Mercedes EQS. Lucid’s Air even outsold the Tesla Model S in the third quarter.
According to , Lucid sold 1,944 Air models in Q3, up 33% from last year, while Tesla Model S sales slipped 47% to 1,669. The company’s growing sales come despite many media headlines claiming that EV sales are slowing or cooling. On recent , Rawlinson said there is a “false narrative” that EVs are in decline.
Sales are still up, Rawlinson explained, but they may not be climbing as fast as some had predicted. Lucid’s CEO is not surprised by some legacy automakers’ “lame efforts.” According to Rawlinson, the company was established for a different reason.
Lucid exists “to advance the state of the art of EVs,” the company’s CEO said on the podcast. In 2021, Lucid launched the first EV with over 500 miles range. To this day, “There’s no competitor within 100 miles of that car,” according to Rawlinson.
Lucid is focused on efficiency or enabling more range with fewer batteries. To promote widespread adoption, Rawlinson said we must hit the core issue: the cost of batteries as a function of thei.
