Lucid's Gravity SUV and Midsize Lineup: Powering the Future of Electric Mobility

Lucid Motors, the innovative electric vehicle (EV) manufacturer, has unveiled a wealth of new information about its upcoming Gravity SUV and its plans for a midsize SUV lineup. The company's Technology & Manufacturing Day event provided insights into the cost-effective production of its EV technology, as well as updated delivery numbers for 2024 and a glimpse of its future midsize offerings.

Unlocking the Potential of Lucid's EV Technology

Gravity SUV: A Cost-Effective Powerhouse

Lucid's CEO, Peter Rawlinson, confirmed that the highly anticipated Gravity SUV remains on track for a late 2024 release. Rawlinson emphasized the company's ability to manufacture the Gravity cost-effectively, dispelling the notion that Lucid's EV technology is inherently expensive. The Gravity's electric drive units, Rawlinson explained, are "very competitively priced for the power" and "incredibly cheap," enabling a significantly smaller battery pack and leading to substantial cost savings.An analysis conducted by the German engineering firm A2MAC1 corroborated Lucid's claims. The study found that Lucid's drive unit cost $1,911 to manufacture, cheaper than two of the three competitors it was benchmarked against. Notably, Lucid's drive unit produced more power and weighed significantly less. When normalized for the mass of the drive unit, Lucid's costs approached the cheapest competitor, which is widely believed to be Tesla.Similarly, Lucid's battery costs were found to be more cost-effective than its competitors when normalized for size and range. Rawlinson stressed that these cost efficiencies are specific to the powertrain components, including electric motors, drive units, and batteries, and do not necessarily reflect the company's overall profitability.

Delivering on Promises: Lucid's Sales Milestone

Despite the company's recent financial challenges, Rawlinson revealed a positive sales milestone. By August 31st, 2024, Lucid had delivered more vehicles than it had in the entire 2023 fiscal year, where it delivered 6,001 vehicles. While Rawlinson did not provide a specific figure for the third quarter, he acknowledged that the number was above 6,000 units.This sales boost can be attributed, in part, to Lucid's introduction of lower-cost versions of its Lucid Air sedan. The upcoming Gravity SUV is expected to further bolster Lucid's sales numbers, with a base model priced around $80,000, which aligns with the federal EV tax credit threshold.

Embracing Tesla's Charging Network: The Gravity's Advantage

One notable feature of the Gravity SUV is its integration of Tesla's NACS (North American Charging Standard) charging inlet. This provides the Gravity with native access to Tesla's extensive Supercharger network, a significant advantage for Lucid's customers. Lucid is not yet accepting pre-orders for the Gravity, but plans to do so in the near future.

Midsize Vehicles: Lucid's Next Frontier

Looking ahead, Lucid and Rawlinson are particularly excited about the company's upcoming midsize SUV lineup. These vehicles will be powered by Lucid's newly revealed Atlas drive unit, which is entirely in-house designed, smaller, more efficient, and cheaper to manufacture than the company's current drive units.Rawlinson revealed that Lucid's midsize lineup will not consist of a single model, but rather a "plural" of vehicles based on the midsize platform. These models will be positioned to compete directly with the Tesla Model 3 and Model Y, the best-selling electric cars in the world. Rawlinson believes Lucid's midsize offerings will be able to achieve greater driving ranges than the Model Y, while also being more cost-effective to produce.

Lucid's Long-Term Vision: Challenging the Status Quo

Rawlinson is confident in Lucid's ability to deliver on its ambitious goals, but he acknowledges that the market may need more time to fully embrace the company's vision. Lucid is positioning itself as a long-term player in the EV industry, akin to Tesla and Amazon, with a steadfast commitment from Saudi Arabia's PIF sovereign wealth fund.Rawlinson's unwavering belief in Lucid's potential is evident in his statements. He is not shy about making bold claims, challenging the industry's status quo, and asserting Lucid's ability to outperform its competitors. While the market may remain skeptical, Lucid is determined to prove its worth as a transformative force in the electric vehicle landscape.