Lucid has some of the most advanced electric vehicle technology on the market, surpassing established automakers and even EV leader Tesla.
Rawlinson has been outspoken in pointing out exactly what Lucid’s EV rivals are doing wrong, and he’s always expressed absolute confidence that Lucid will make it big. He recently talked to CarBuzz on the sidelines of the 2024 Goodwood Festival of Speed and reiterated his belief that Lucid will end up dominating the automotive market.
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Lucid leads for EV tech but not sales
Even though Lucid cars are some of the most advanced, quickest and most efficient EVs around, the Arizona-based and Saudi-backed manufacturer needs to sell a lot more cars to matter on the global stage. Last year it made a little over 8,400 cars, so it needs to start ramping up production.
He said, “Do not think of Lucid as a niche luxury car company. We’re gonna be huge. I want us to sell a million units a year and have a much bigger impact than that.” Lucid currently only sells one car, the Air sedan, which is a luxury sedan whose cheapest version, the Air Pure, is $69,900. It’s not affordable enough to make Lucid a true volume player, but the company is working on a $48,000 midsize model that will help it reach the goal of selling that many cars.
The Lucid boss went on to highlight the fact that for an EV, “over 40% of the cost of building that car is the cost of the battery. The gasoline engine might cost $2,000 to make; the electric battery pack can cost $20,000. So, when others are looking at gigacastings, which might make $130 difference” he noted, referring to the gigacasting process that Tesla already uses and other manufacturers may also adopt he concluded by saying “I’m going for the jugular: the battery pack cost.”
The 900-volt architecture, the highest of any EV in production, distinguishes Lucid’s EV technology from that of other manufacturers. This not only allows Lucid cars to have among the best charging power figures on the market, but it also helps the Air sip electrons more frugally than other EVs.
Rawlinson’s confidence extends to the upcoming Lucid Gravity SUV, which he regards as the best SUV in the world. He expects it to eat into Rivian R1S sales and asks “‘How is Rivian gonna respond?’ Because Gravity is gonna be the best SUV out there, and no one will be able to compete with it. To me, product is king. Bring it on […], but I’ve driven R1S, and I’ve driven the Gravity. I’m not worried.” Rivian recently heavily revised the R1 line of models with new batteries, motors and software.
Lucid recently announced that the Air sedan revised for the 2025 model year achieved a class-leading efficiency figure of just 5 miles for each kilowatt-hour consumed. This allows the Air Pure to travel over 400 real-world miles on one charge of its 84 kWh battery. To put how impressive that is into perspective, the BMW i5 M60 can’t go more than about 265 miles with its 81.2 kWh battery before it needs to be plugged in.
We recently reviewed the BMW i5 M60, which had an average electricity consumption of 2.6 miles per kWh, and it never showed more than 210 miles of predicted range even with a full battery. When we put the 2022 Lucid Air Dream Edition through our 70 mph range test, Tom Moloughney drove it for 7 hours straight and covered just over 500 miles on one charge, with an average consumption figure of 4.3 miles per kWh. This was two years ago, and Lucids have become even more efficient since.
Lucid Motors, a renowned electric vehicle manufacturer, has been making headlines recently with its ambitious goal of selling a million electric vehicles annually. The company’s CEO, Peter Rawlinson, oozes confidence as he spearheads Lucid’s bid to capture a significant market share in the rapidly growing EV industry.
Rawlinson’s confidence stems from Lucid’s positive performance in recent years. The company’s flagship model, the Lucid Air, has been receiving rave reviews from critics and customers alike for its cutting-edge technology, luxurious design, and impressive performance. With a range of over 500 miles per charge, the Lucid Air promises to be a game-changer in the EV market.
In addition to the Lucid Air, the company is also set to launch an SUV model, the Lucid Gravity, in the near future. With its sleek design and advanced features, the Gravity is expected to appeal to a broader demographic of consumers, further boosting Lucid’s sales figures.
Rawlinson’s optimism is not unfounded. The EV industry is experiencing a boom, with more and more consumers making the switch to electric vehicles in a bid to reduce their carbon footprint and combat climate change. With governments around the world also offering incentives for EV buyers, the market is ripe for Lucid to make its mark.
To achieve its goal of selling a million EVs annually, Lucid Motors has been ramping up its production capacity. The company’s state-of-the-art manufacturing facility in Arizona is capable of producing up to 34,000 vehicles per year, with plans for further expansion in the pipeline.
Lucid has also been investing heavily in research and development to stay ahead of the competition. The company’s engineers are constantly pushing the boundaries of EV technology, with innovations such as ultra-fast charging capabilities and autonomous driving features set to be incorporated into future models.
Despite the challenges posed by established players such as Tesla and Ford, Rawlinson remains undeterred. With Lucid’s strong brand reputation, cutting-edge technology, and strategic partnerships with suppliers and distributors, he is confident that the company will achieve its goal of selling a million EVs annually.
As the world transitions towards a cleaner, more sustainable future, Lucid Motors is well-positioned to lead the charge. With its ambitious plans and unwavering confidence, the company is set to make a significant impact in the EV industry and cement its status as a key player in the market.