While some vehicle companies focus on making more affordable EVs (electric vehicles), Lucid Motors is rolling out the first-ever EVs geared toward the luxury market. The Lucid Air Dream Edition Range will have a starting price of $169,000, making it one of the world's most expensive EVs. However, people have only seen reports of some of the highly anticipated vehicle's unique features, and now just want to see it on the road.
Lucid Motors originally manufactured only vehicle batteries and equipment but transitioned to developing EVs in 2016. Founded in 2007, the company used its experience with manufacturing vehicle batteries to develop vehicles that can travel long distances on a single charge. When CEO and CTO Peter Rawlinson joined Lucid in 2013, he brought 30 years' experience in the automotive industry to the company.
Rawlinson was the former VP of vehicle engineering at Tesla and chief engineer for Tesla’s Model S, one of Tesla’s current top sellers. Now, the former Tesla executive oversees the creation and delivery of all Lucid products. After going public in Jul. 2021, the EV company may have everything it needs to overtake Tesla in the EV industry.
What's the Lucid Air, and when can I purchase it?
The Lucid Air will be the company’s first vehicle available to the retail market. Expected to make its commercial debut in the spring of 2022, it will be available for delivery to most U.S. states and available for purchase at Lucid's retail stores. Lucid also plans to release an SUV model, in 2023.
The Lucid Air sedan features a 900V battery that Lucid says can be charged without an adapter at most charging stations across the U.S. Electrify America currently offers the most charging stations in the country. Eligible models that are purchased by delivery come with three years of free charging at any Electrify America station. There are reportedly more than 10,000 reservations for the Lucid Air, representing more than $900 million in sales.
The Lucid Air Dream Edition Range has the longest range ever
Lucid announced Sep. 16, 2021, that the Edition R has 520 miles of range, beating out the second-best range (held by the Tesla Model S Long Range) by 120 miles. That record range was confirmed by the EPA (Environmental Protection Agency). Lucid also claims that the car’s battery charges faster than any other on the market, up to 300 miles within 20 minutes.
Lucid Group's stock increased by more than 13 percent on Sep. 16
With the news of the Lucid Air's range, the company’s stock reached a three-week high of approximately $23. Bank of America analyst John Murphy predicts the stock will reach $30 and sees Lucid as a formidable threat to other automotive companies.