Lucid Motors planning to introduce an affordable car for 2024
Lucid Motors, a prominent player in the luxury electric vehicle industry, is making strategic moves to intensify its competition with Tesla. With the anticipated launch of the Lucid New Affordable Car in 2024, Lucid Motors is set to expand its portfolio and offer a broader market. This affordable electric vehicle, expected to be priced around $50,000, which is a significant shift in Lucid’s product strategy, directly challenging Tesla market segment in the electric vehicle sector.
The CEO of Lucid Motors, Peter Rawlinson, has highlighted the company’s commitment to launching this large, family-sized electric vehicle, which is poised to make a notable impact under the Lucid 2024. The introduction of this competitively priced model aligns with Lucid’s goal to offer a diverse range of electric vehicles.
Lucid Motors initially made waves in the electric vehicle market with the launch of the Lucid Air in September 2021. The standard Pure edition, equipped with a single electric motor and rear-wheel drive system, was offered at a starting price of $77,400. At the higher end of Lucid’s spectrum is the Lucid Air Sapphire, starting at $249,000, a luxurious alternative to the Tesla Model S Plaid.
Further expanding its lineup, Lucid recently introduced the Gravity car, a formidable rival to the Tesla Model X. The Gravity electric crossover, with a starting price of around $80,000 before tax exemptions, is positioned as a luxurious counterpart to Tesla’s Model X, which starts at $68,590.
As Lucid Motors gears up for the 2024 launch of its new affordable car, the company is evidently focusing on entering the more reasonably priced car market. This move is seen as a key strategy to enhance Lucid's market presence and compete effectively with popular models like the Tesla Model 3 and Tesla Model Y.