Lucid Motors Sets Sights on Tesla with Affordable $50,000 Electric Car
Lucid CEO Peter Rawlinson Aims to Compete in High-Volume EV Market, Taking on Tesla’s Model 3 and Model Y
Lucid Motors, the California-based electric vehicle manufacturer, is gearing up to directly challenge Tesla’s dominance in the electric car market with an upcoming model aimed at a base MSRP of around $50,000. Lucid CEO Peter Rawlinson shared insights into the company’s strategy, emphasizing the need to focus on increasing market share and offering more affordable electric vehicles.
Rawlinson acknowledged the necessity of introducing high-end products like the Lucid Air and Gravity initially to offset the substantial costs associated with establishing a car company. Having built a reputation as a battery manufacturer, Lucid is now strategically positioned to leverage its expertise and expand its offerings to a broader consumer base at a lower price point.
While confirming the company’s intention to introduce a $50,000 (or cheaper) electric car, Rawlinson clarified that the goal is to target the mid-size vehicle segment, emphasizing a focus on high-volume family cars. In a direct challenge to Tesla, he stated, “The mid-sized [model line] is going to be overtly a Tesla competitor – Model 3, Model Y. This is the first time I’ve ever said it: we’re going to compete in that market – high-volume family car.”
Despite having been the chief engineer of the Tesla Model S, Rawlinson highlighted the luxury and technological advancements of Lucid’s existing models, such as the Air, positioning the upcoming mid-sized model as a direct rival to Tesla’s popular offerings. He emphasized Lucid’s competitive edge, stating, “We’ve got the most advanced technology, which means we can go farther with less battery, and the battery is the most high-cost item of an electric car.”
While the mid-sized model is expected to enter the market in the mid-late decade, Rawlinson emphasized that the project is already in progress, signaling Lucid’s commitment to offering advanced electric vehicles at a more accessible price point. The move positions Lucid Motors to directly challenge Tesla’s dominance and appeal to a broader range of consumers in the rapidly growing electric vehicle market.
