To compete with Tesla, Lucid Motors will set up in the affordable electric segment. The American-Saudi manufacturer plans an SUV for less than $50,000 in 2026.
Lucid Motors has understood that luxury sedans are not enough to keep a brand alive. Moreover, in the era of the electric car, in which profitability is more difficult to achieve. Thus, its great ambitions force it to review its approach.
Of course, the Lucid Air benefits from its entry-level version. But the price of the ‘zero emission’ sedan still starts at nearly 80,000 euros. In a market where Tesla has established itself by going after a more modest clientele, Lucid wants to take inspiration from it.
The company wants to offer more limited models in terms of size, as Derek Jenkins, Lucid’s vice president of design and brand, explained to CarBuzz that several cars will be coming to this segment.
“We’re working on our midsize program right now,” he said. “Of course, they’ll be compact and lighter. They’ll focus on aerodynamics, efficiency, and space.”
“They won’t be as fast as the Air, but they’ll be impressive. And they’ll be priced for a wider range of people. The idea is to use our technology to reach a wider range of consumers and accelerate the transition.”
“We’re creating a whole series of personalities around this program. But to do that, you have to wow people and dispel any fears or doubts they have about going electric.”
What other models for Lucid Motors?
It seems obvious that a small electric sedan, like the Tesla Model 3, will join Lucid's ranks. But the brand has not yet made its choice on the segment of the other models in this range.
Indeed, Lucid CEO Peter Rawlinson has confirmed the arrival of three smaller models. These will all be in the same price range, but Lucid wants to offer several alternatives.
In addition to the traditional sedan, it is also likely that a modest-sized SUV will appear. For the remaining model, Lucid is not closing any doors, including that of a station wagon. But Derek Jenkins is aware that this is a niche segment in the 2020s.
“We’ve certainly considered it. I don’t think we can justify it in the future. At least, not right now. Everyone, myself, all the engineers, we’re all big fans of wagons. I’ve owned a number of Audi station wagons over the years, and I love them.”
“But, you know, it’s a dying segment, even in Europe. Enthusiasts think performance wagons are great. But there’s still no real evidence of growth in that space. I don’t see us going there.”
Could an electric off-roader be successful?
Jenkins also thinks Lucid could find success with an electric off-road vehicle. The automaker is known to be testing its Gravity SUV to meet off-road criteria. However, a true off-road model is in the works at Lucid Motors.
“The off-road space is going to continue to morph and evolve. There will be products that try to address the needs of the off-road periphery, like rock crawling, and then there will be the regular crossover products. It makes sense because you start to get the advantage of both worlds.”
“You get something that’s a little bit sleeker and a little bit more car-like. You get the efficiency, both the space and the aerodynamic efficiency, but you rough it up to give it a little bit more ruggedness and durability.”
“I think there’s a whole new category of products that could still be on the drawing boards of a lot of companies. It’s definitely a big area to explore.”
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