EV maker Lucid Motors plans to tackle Tesla’s top-selling Mannequin Y and Mannequin 3 fashions with an electrical automobile priced round $50,000.

CEO Peter Rawlinson just lately spoke with ABC Information in an interview about accelerating EV adoption and the way automobile effectivity might be key.

Lucid’s chief and chief tech officer stated low cost electrical automobiles with small, environment friendly batteries would get Individuals to commerce of their ICE autos for EVs and by no means look again. He stated, “The sensation of the highway, the suggestions via the steering, the instantaneous torque – there may be romance with an electrical automobile.”

With Lucid’s least costly mannequin, the Air Pure, beginning at $82,400, Rawlinson was requested about constructing a automobile that’s below $60,000.

Rawlinson responded, “That’s precisely why I am going to work. I’m not right here to construct an costly automobile that solely wealthy individuals can afford.”

Lucid began with premium merchandise as a result of that’s “the one manner I may make the enterprise work financially,” in keeping with Rawlinson.

Lucid goals for $50K EV to rival Tesla Mannequin Y

He went on to elucidate that the expertise Lucid is creating might be “the important thing to unlocking better effectivity.” To that finish, Rawlinson defined:

We’re focusing on a worth — and don’t maintain me to this — round $50,000. That’s the imaginative and prescient. Proper within the coronary heart of Tesla Mannequin 3, Mannequin Y territory.

Though Rawlinson wish to go decrease, he says that is the most effective the corporate can do by the mid to late decade.

What the phrase actually wants “is the $25,000 electrical automobile,” which might be a consequence of the expertise being developed in the present day.

As for charging, Rawlinson stated round 86% of Lucid prospects cost at house in a single day, which places much less stress on the grid. He stated it’s very uncommon for individuals to drive over 500 miles a day, so 99% of the time, you may depart your private home absolutely charged with no need to cease.

As charging infrastructure continues rolling out, you gained’t want a 500-mile vary EV, Rawlinson stated, “I believe the electrical automobile of the long run might be extra like 150 miles of vary – if we now have mature infrastructure.”

The information comes after Lucid prolonged its worth promotion “Pure Summer season Occasion” with particular lease and buy offers on 2023 Air fashions after seeing extra curiosity within the model.

Lucid additionally teased the (not so low cost) 1,200 hp Air Sapphire coming off the meeting line with a price ticket of $249,000. The high-performance mannequin might be accessible quickly.

Electrek’s Take

Rawlinson made some strong factors. As battery tech advances and automakers give attention to effectivity, electrical autos might be provided at decrease costs.

He defined that if “we are able to get to a automobile with a 25-kilowatt-hour battery pack. If it does 6 miles per kilowatt hour – that’s the magic quantity, the holy grail – it can save the planet. We’re attempting to get 5 with Lucid Air. Proper now we’re at 4.74.”

Lucid is just not out to dethrone the Tesla Mannequin Y, Mannequin 3, or Mannequin S with decrease costs; Rawlinson says there’s a marketplace for nice electrical automobiles. “The extra individuals who get behind the wheel in our automobiles will ditch their gasoline automobile and transfer to a Lucid Air as a result of it’s higher,” he defined.