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A Lucid Air with its limited-edition metallic paint-job called “eureka gold” glints, parked outside of the Nasdaq. The luxury car, a part of the electric carmaker’s Dream lineup, is evocative of the path it took to public markets via blank-check.
Newark, California-based Lucid Group’s debut listing on Monday comes after it completed a reverse-merger with financier Michael Klein’s special purpose acquisition company Churchill Capital Corp. IV. The stock, now trading under the symbol LCID, received a warm reception. Shares closed 11% higher at $26.83 on Monday.
Lucid Chief Executive Officer Peter Rawlinson said that the company remains on track to hit key milestones, producing 577 vehicles this year and as many as 20,000 next year. As disruptive as the global pandemic was on automakers and their suppliers, Lucid included, the company built a factory in Casa Grande, Arizona from the ground up in less than 12 months.
“Execution is everything now and I tell my team that every day,” Rawlinson said in an interview on Bloomberg Television. “We haven’t achieved a thing as a company until we have delivered our car to satisfied customers.”
Hurdles remain. A number of shareholder lawsuits have been brought against Lucid and its acquirer Churchill Capital in recent weeks. Rawlinson says Lucid did everything “by the book” and expects the company to “prevail.”
When Lucid’s deal with Churchill was first announced in February, it was the largest proposed SPAC transaction at that time, referred to by many on Wall Street as “peak SPAC” and drew Tesla comparisons. Yet, for all of the institutional support the deal appears to have, the company’s fate will depend on the loyalty of retail shareholders, many of whom are new to investing and trading on apps.
“Retail investors are connected and act in blocks. People talking about Lucid on WallStreetBets, Reddit and StockTwits will have the power of a massive institutional investor,” said Matt Tuttle, chief of the Greenwich, Connecticut-based namesake shop that issues thematic and actively-managed ETFs.
Having a base of novice investors who might have picked up their shares on platforms such as Robinhood proved to be a teachable moment last week when the Churchill SPAC struggled to secure enough shareholders to meet a voting deadline.
Last week’s struggles were not on display Monday. Instead the company was offering rides in its Dream car parked in front of the Nasdaq near Times Square.
Lucid Motors is almost ready to begin delivering the electric Air, its first model. It announced the range-topping Dream Edition version will be available in two flavors called Performance and Range, respectively.
Led by Peter Rawlinson, the former Tesla Model S chief engineer, the firm chose a remarkably straightforward naming system: The Dream Edition Performance puts a focus on performance; the Dream Edition Range prioritizes range. They're both evolutions of the Air sedan, but there are several key differences on their specifications sheet.
Power for the Performance and the Range comes from a dual-motor drivetrain that delivers through-the-road all-wheel-drive. In the former, the system develops 1,111 horsepower (about 30 more than previously announced) and over 737 pound-feet of torque. In the latter, horsepower drops to 933 while torque remains the same. Lucid quotes a 2.5-second sprint from zero to 60 mph for the Performance model, and a 2.7-second sprint for the Range.
Unsurprisingly, the Dream Edition Performance offers more performance than the Range. It stands to reason that the Range makes up for it with more range, but official numbers haven't been published by the Environmental Protection Agency (EPA) yet. However, the Performance achieved 475 miles on a charge while the Range boasted a 517-mile driving range in independent tests performed in California by Motor Trend, according to Lucid.
Some visual details will set the two EVs apart. Performance models will come standard with 21-inch wheels, and Range models ride on smaller 19-inch units. These wheels are interchangeable, so Performance buyers can order the 19-inch wheels at an extra cost and vice versa, and both styles are wrapped by Pirelli P-Zero tires. There may be other design differences inside and out, but the lone photo released by Lucid shows each car's rear end.
Buyers who have already reserved an Air Dream Edition will be asked to specify which version they want. Pricing remains pegged at $169,000 before incentives regardless of whether customers choose the Performance or the Range. Deliveries are expected to begin later in 2021, and cheaper models will be available shortly after.
US EV automaker Lucid Motors has just shared some of the official EPA ranges for its flagship Air sedan, and they are quite impressive. In an official press release, Lucid revealed the EPA estimated range for two versions of the upcoming Dream Edition Air, as well as the Grand Touring. Both of these trims provide a range of at least 450 miles.Lucid Motors is a US EV automaker focused on the luxury segment of the market. By charging a higher premium for its electric vehicles, Lucid can deliver superior features in range and horsepower, delivered within a sleek, luxe design.
For over a year, Lucid Motors has been teasing its flagship EV, the Air sedan, consistently sharing new details of its features alongside its progress toward full production.
While the Dream Edition trim of the Air sedan was originally slotted to arrive in spring 2021, Lucid announced delays, pushing the delivery window to “sometime in the second half of 2021.”
This news came just days after a SPAC merger with Churchill Capital Corp. IV ($CCIV) was announced, a move that was made official this past July. The automaker is now tradable on the Nasdaq under $LCID.
In August, Lucid shared that the first trim of its Air sedan, the Dream Edition, would be available in two versions – The Dream Edition Range promising over 500 miles on a single charge, and the Dream Edition Performance promising over 1,000 horsepower.
With today’s announcement, we know what official EPA ranges to expect on the Lucid Air when it finally arrives, and that the Air’s actual numbers surpass the previous hints Lucid Motors has shared. Two versions of the Lucid Air Dream Edition R driving, one with 20″ wheels and one with 19″ wheels Photo: Lucid Motors
Lucid shares EPA range for Air Dream Editions and Grand Touring
In a press release from the automaker, Lucid Motors has shared the official EPA range for both versions of the Air Dream Edition, as well as the upcoming Air Grand Touring.
The automaker has shared a staggering EPA range of 520 miles for its Lucid Air Dream Edition Range when fitted with 19″ wheels.
According to Lucid, this makes the Air the longest range EV rated by the EPA to date. CEO and CTO of Lucid Group, Peter Rawlinson spoke to these numbers:
I’m delighted that our Lucid Air Dream Edition Range has been officially accredited with a range of 520 miles by the EPA, a number I believe to be a new record for any EV. Crucially, this landmark has been achieved by Lucid’s world-leading in-house EV technology, not by simply installing an oversize battery pack. Our race-proven 900V battery and BMS technology, our miniaturized drive units, coupled with our Wunderbox technology endow Lucid Air with ultra-high efficiency, enabling it to travel more miles from less battery energy. The next generation EV has truly arrived!
Lucid Motors has shared additional EPA range specs on variations of its electric Air sedan. The Performance version of the Air Dream Edition sacrifices a bit of range for more horsepower but can still deliver 471 miles on 19″ wheels.
The next available trim for the Air, the Grand Touring, loses quite a bit of power compared to the Dream Edition versions, but 800 horsepower is still quite powerful. To top it off, the Grand Touring offers an EPA estimated 516 miles of range on a single charge, with 19″ wheels.
Here are the EPA range estimates for each of the current variations of the Air that Lucid has shared: Lucid Air VersionEPA RangePowerDream Edition Range (19″ wheels)520 miles933 hpDream Edition Range (21″ wheels)481 miles933 hpDream Edition Performance (19″ wheels)471 miles1,111 hpDream Edition Performance (21″ wheels)451 miles1,111 hpGrand Touring (19″ wheels)516 miles800 hpGrand Touring (21″ wheels)469 miles800 hpThe Dream Edition version of the Air sedan is scheduled to arrive sometime in the second half of this year, and with the new EPA range made official, the Air Grand Touring will be the next variation of Lucid’s flagship EV to follow.
These trims will be followed by two additional, more affordable variations in the Air Touring and Air Pure, although we do not know those EPA range ratings at this time. For now, all eyes will be on the first deliveries of the Air Dream Edition.
CASA GRANDE, Ariz. — Lucid Motors said on Tuesday it will start delivering its luxury electric sedans with a Tesla-beating driving range in late October, in a major challenge to the market leader whose sales of premium models have stagnated.
The California-based startup began production of its long-delayed Lucid Air cars at its Arizona factory on Tuesday. The company, founded in 2007, received funding from Saudi Arabia's Public Investment Fund in 2018 before going public via a shell company in July.
Lucid Group's CEO, Peter Rawlinson, who had overseen Tesla's Model S development before he left the company in 2012, faces tasks similar to those of Tesla in its early days, including how to address manufacturing challenges and scale up production.
"I think the big challenge for Lucid will be execution," said Sam Abuelsamid, a principal analyst at Guidehouse Insights. "I think that they have a very good car. It's very attractive,"
Lucid said on Tuesday it has received more than 13,000 reservations for Lucid Air models, whose price starts at $77,400. It also said it has increased the planned total production of the top-end Lucid Air Dream Edition to 520 vehicles. That car is priced at $169,000 and will be available in late October, followed by less expensive models: Grand Touring, Touring and Air Pure.
A version of the Dream Edition has received an official government rating of a 520-mile (837 km) range, delivering more than 100 miles of additional range over its closest rival, Tesla's Model S, which is priced at $89,990.
“The proprietary EV technology that Lucid has developed will make it possible to travel more miles using less battery energy," said Rawlinson.
Lucid has not yet disclosed the battery capacity of the top-end version of Lucid Air, but it said its Lucid Air Grand Touring version has an official EPA rating of 516 miles of range with a 112-kWh battery pack, giving it an industry-leading efficiency of 4.6 miles per kilowatt-hour.
Musk said in June that Tesla has canceled its plan to launch a Model S Plaid+, with a target driving range of 520 miles, saying another version is "so good."
Tesla's combined sales of Model S and Model X luxury models stood at only 1,890 in the second quarter of this year, down from 22,300 during the same period three years ago. Tesla does not break out figures for the two high-end models.
"The Model S doesn't look fundamentally different from a Model S nine years ago," Abuelsamid said. "In the premium market, customers are looking for the latest and greatest."
"What Lucid is going to potentially have an advantage is the Air feels like a luxury car, feels a lot more premium," he said.
Tesla CEO Elon Musk in October 2020 cut the price of its Model S, shortly after Lucid announced the pricing of its base model. "The gauntlet has been thrown down! The prophecy will be fulfilled," he tweeted at that time.
Musk reiterated this month that "production is hard."
"Production with positive cash flow is extremely hard," he said, citing carmakers' razor-thin margins.
at least their stock is doing well for me. I should have bought more.
The reskinned Elise known as the Tesla Roadster was $98k 13 years ago. That's about $124k in todays dollars for a car that - while it was very early in the EV landscape - was worse in every way.
The reskinned Elise known as the Tesla Roadster was $98k 13 years ago. That's about $124k in todays dollars for a car that - while it was very early in the EV landscape - was worse in every way.
It was a bit more than a reskinned Elise. And it was also the catalyst for where we are now to include Lucid.
Midway through this month, Lucid Motors announced the official EPA ratings for the range of its upcoming EV, the Air. To put it bluntly, the startup is basically offering today what Tesla promised to deliver two years from now. 29 photos
The maximum range you can expect out of a Lucid Air is 520 miles, which is 837 kilometers and, even more importantly, absolutely insane. It puts EVs in an entirely new era that sees their exaggerated weight as probably the only real drawback left compared to an internal combustion engine (ICE) equivalent.
Well, after watching numerous similar (at that time) startups come and go, it's only natural that we became less likely to get overexcited whenever the specs of a prototype car were announced. The Lucid Air, however, has far come off the prototype phase with the company having built an entire assembly plant in Arizona together with several pre-production cars. Now, Lucid has also launched the actual production line, and it invited all sorts of media and new media representatives (you could call the latter "influencers", we guess) to an event to celebrate that.
However, the plant and its production had no hope of remaining the main attraction of the day since the company also allowed attendees to get their hands on the Air and give it a spin around the area. Unlike Tesla, Lucid went the sensible way and gave its guests the chance to actually drive the car, not be chauffeured around by one of the company's employees.
The overall impressions are extremely positive, and it's worth bearing in mind a lot of the people testing the car are Tesla owners. Nobody hurries to call the Air "better" than Tesla, though the comparison is going to be inevitable. As things stand, though, the question isn't whether the Air is going to be a competitive EV, but whether Lucid will be able to build them at a satisfying rate.
One of the reviewers says they plan to make about 500 by the end of the year, which would mean a production rate of roughly 62.5 cars per week and only nine per day. That shows you the company is still ironing out all the issues and complications that come with mass manufacturing a product that's as complex as a car. It also means there's no point in judging the AMP-1's (the name of Lucid's factory) production capacity just yet, especially since there are already expansion plans into a nearby lot.
To sum it up, the Lucid Air feels like the kind of car people were expecting from Mercedes-Benz and the likes, but they never got. Put the Air next to the EQS, remove the badges, and ask people who have nothing to do with cars which one seems to be made by a company with over a century of experience, and which is built by one that's just starting out? And that's even before you go over the specs.
Probably less important. Since an average person will have to drive for nearly 10-12 hours before needing to recharge. Can use any EA or destination chargers when you retire for the night at your hotel if on a trip. That’s a range I’d love to have. More than that of most ICE cars.
Probably less important. Since an average person will have to drive for nearly 10-12 hours before needing to recharge. Can use any EA or destination chargers when you retire for the night at your hotel if on a trip. That’s a range I’d love to have. More than that of most ICE cars.
It is important for a car of that price point. EA and other public chargers are notoriously unreliable not to mention far less prolific out in the world.
Charging network is a HUGE selling point for EV's right now.
Correct, charging network is important for many. all I’m saying is, the person driving this car need not worry about getting the fastest charging speed all the time (even though it is helpful). Mostly he will use only destination chargers since it only needs to be charged once a day unless you are planning a cannonball run.
Correct, charging network is important for many. all I’m saying is, the person driving this car need not worry about getting the fastest charging speed all the time (even though it is helpful). Mostly he will use only destination chargers since it only needs to be charged once a day unless you are planning a cannonball run.
Not really true. I've done 700 miles in a day in order to get to a destination. Having a reliable means of charging on the go is still a huge thing. I wouldn't be worried so much about speed but more so frequency of availability and reliability.
They have a partnership with Electrify America. But Elon has mentioned that Tesla superchargers will be opened up to other makes this year. That could be another Elonism, but it could actually be in the cards
Charging ports need to be standardized though. Imagine if gas pumps were specific to makes (outside of diesel vs gas)...
Originally Posted by Sarlacc
It was a bit more than a reskinned Elise. And it was also the catalyst for where we are now to include Lucid.
That's my point. This top tier trim of the Air is expensive, but it offers much more than the first tries from other automakers. I'd expect (and hope) Lucid will come out with a sub-$70k car eventually, but if they can crack into the luxury arena and make money, this is where they need to be for now. The big test is how they handle manufacturing and quality control.
They've already announced a sub $70k ($69500 lol) car that will be out next year. It's just a different version of the Air though, not an entirely new model.
They have a partnership with Electrify America. But Elon has mentioned that Tesla superchargers will be opened up to other makes this year. That could be another Elonism, but it could actually be in the cards
Charging ports need to be standardized though. Imagine if gas pumps were specific to makes (outside of diesel vs gas)...
This is exactly what I've been saying...until ev charging is truly universal the ev industry will languish.
They've already announced a sub $70k ($69500 lol) car that will be out next year. It's just a different version of the Air though, not an entirely new model.
Charging ports need to be standardized though. Imagine if gas pumps were specific to makes (outside of diesel vs gas)...
Other than Tesla, all cars in the US use the same plug (other than the Leaf which is now transitioning) which is the J1772 plug. This is what Rivian, Lucid, Ford, VW, Chevy, BMW, Benz, Porsche, etc all use. Tesla is the only one that uses a proprietary plug but they supply an adapter with the car to allow the car to also plug into a J1772 charger. So there's a way to plug a Tesla port into a J1772 but no way to plug a J1772 into a Tesla port...if that makes sense.
Originally Posted by civicdrivr
Yeah, the Air Pure which is $77k before credits.
Wise man once said: Doesn't matter if you win by an inch or a mile, winning is winning.
Other than Tesla, all cars in the US use the same plug (other than the Leaf which is now transitioning) which is the J1772 plug. This is what Rivian, Lucid, Ford, VW, Chevy, BMW, Benz, Porsche, etc all use. Tesla is the only one that uses a proprietary plug but they supply an adapter with the car to allow the car to also plug into a J1772 charger. So there's a way to plug a Tesla port into a J1772 but no way to plug a J1772 into a Tesla port...if that makes sense.
Right, what I'm getting at is the abundance of Tesla charging stations in comparison to the others, plus their use of super chargers. If they were to use a standardized plug (or if they became the standard), this wouldn't be an issue for those not driving a Tesla. But right now, it is. I'm confident that if other makers want to actually sell EVs, they'll need to invest heavily in more charging stations and upgrade the tech, but I really don't want that to spawn even more proprietary connectors.
Right, what I'm getting at is the abundance of Tesla charging stations in comparison to the others, plus their use of super chargers. If they were to use a standardized plug (or if they became the standard), this wouldn't be an issue for those not driving a Tesla. But right now, it is. I'm confident that if other makers want to actually sell EVs, they'll need to invest heavily in more charging stations and upgrade the tech, but I really don't want that to spawn even more proprietary connectors.
Yep and you're seeing Rivian do that already. What needs to happen is these companies who are coming out with cars need to invest in companies bringing out chargers.
That's my point. This top tier trim of the Air is expensive, but it offers much more than the first tries from other automakers. I'd expect (and hope) Lucid will come out with a sub-$70k car eventually, but if they can crack into the luxury arena and make money, this is where they need to be for now. The big test is how they handle manufacturing and quality control.
But its a silly point. we are 10+ years down the road from tesla, The tech and availability of components, software, designers is much different. and Lucid was started by the guy who had a part in the model s.
But its a silly point. we are 10+ years down the road from tesla, The tech and availability of components, software, designers is much different. and Lucid was started by the guy who had a part in the model s.
So what was your point? That a 800hp luxury four door should be $50k?
This week Lucid Motors, just days after starting production of its 520-mile Air sedan, has revealed the first details of its DreamDrive advanced driver-assist system, which is expected to compete with Tesla's Autopilot and FSD systems, among others. The system boasts 32 sensor inputs, including ultrasonic and radar sensors, 18 cameras, solid-state Lidar, and sensors to monitor driver attention.
DreamDrive will offer a group of features dubbed Highway Pilot, which combines adaptive cruise control with lane centering, as well as Traffic Jam Assist, which will function at speeds between 0 and 40 mph, working to center the sedan in the lane in tight traffic and respond to the movement of other vehicles around it.
"An infrared driver camera tracks head position, eye gaze, and blinking, while hands-off detection prompts the driver to return their hands to the steering wheel immediately," the automaker notes.
DreamDrive will also offer an Auto Park feature, which will allow the sedan to identify parallel and perpendicular spots and will enter them automatically, managing steering and drive inputs.
The hardware behind the system is something Lucid calls an Ethernet Ring, which is a high-speed data network that uses four computer gateways, each positioned in one of the four corners of the sedan, to relay data at gigabit speeds, allowing for system redundancy and quick data transmission.
"DreamDrive Pro has been designed to grow in capability, thanks to our ability to deliver software over-the-air and key equipment already in place in the vehicle," said Dr. Eugene Lee, senior director, ADAS and autonomous driving at Lucid Motors. "Thanks to highly integrated hardware and software teams, Lucid has the ability to develop new functionality for DreamDrive Pro in-house. This can benefit every facet of the DreamDrive Pro experience, from the frequency of updates to the planned rollout of the Highway Pilot system for conditional automated driving on select roadways in the coming years."
At this point it's prudent to note just what DreamDrive does not promise.
For starters, it does not promise that drivers will be able to take their attention off the road. It also does not promise that drivers will be able to keep their hands off the steering wheel, because driver monitoring sensors will make sure that they do so at all times. So there are certainly a few caveats here that point to a system with no eyes-off, brain-off capabilities of Level 3 and Level 4 systems, some of which are already available in other vehicles. For now, it appears that it will be a purely Level 2 system, like Tesla's Autopilot and FSD.
05-11-2021, 10:08 PM
Two versions of the Lucid Air Dream Edition R driving, one with 20″ wheels and one with 19″ wheels Photo: Lucid Motors
CASA GRANDE, Ariz. — Lucid Motors said on Tuesday it will start delivering its luxury electric sedans with a Tesla-beating driving range in late October, in a major challenge to the market leader whose sales of premium models have stagnated.
29 photos
29 photos
