All articles tagged with #lucidmotors
Lucid Motors' new Gravity SUV has received an EPA-estimated range of 450 miles, slightly surpassing its initial 440-mile claim. The vehicle, which began production last week, features three rows of seating and a frunk, and is the first Lucid model to include a native NACS port for Tesla Supercharger compatibility. Prices start at $94,900 for the Grand Touring model, with cheaper versions expected in the coming years.
Lucid Motors has begun production of its new Gravity SUV, a seven-seat electric vehicle, at its Arizona factory, marking a crucial step for the company as it seeks to expand beyond its Air sedan. The Gravity SUV, which boasts a range of up to 440 miles, is seen as vital for Lucid's financial turnaround, given its recent substantial losses and reliance on the Saudi Public Investment Fund for financial support. While production of the lower-priced Touring trim won't start until late 2025, Lucid is also planning a mid-size SUV platform aimed at competing with Tesla's popular models, though production is not expected until late 2026.
Shares of Lucid Motors, QuantumScape, and Navitas Semiconductor surged due to California's announcement to compensate for a potential repeal of the federal EV tax credit, which could have led to a significant drop in EV sales. Governor Gavin Newsom's proposal includes market-share restrictions that might exclude Tesla, potentially benefiting competitors like Lucid. The rally raises questions about whether it's a market turnaround or a temporary bounce, given the ongoing challenges in the EV sector.