In the fourth quarter of 2023, Lucid produced 2,391 new vehicles, a decrease of 32% year-on-year, and delivered 1,734 vehicles, a decrease of 10% year-on-year. For the full year, Lucid Automotive produced 8,428 vehicles, a 17% increase year over year, and delivered 6,001 vehicles, a 37% increase year over year.

The Lucid Air sedan is the earliest model launched by this car company. It will begin mass production in September 2021. The entry-level Pure version starts at US$77,400.

Lucid also launched an electric SUV called Gravity at the end of last year, which competes with the Tesla Model X. However, the Gravity starts at about US$80,000.

Lucid CEO Peter Rawlinson also said Lucid plans to launch an electric car priced around $50,000 (currently about 359,000 RMB) to compete with Tesla’s best-selling Model Y and Model 3.

He added: “It takes three and a half years to build a car and we’ve started… and it didn’t just start yesterday.”

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　　According to Lucid Motors CEO – Peter Rawlinson, Lucid is currently implementing the second phase of the Arizona plant’s expansion program, which will allow it to meet the production capacity needs of the Lucid Gravity as well as this new model. In addition, the new entry model will also be built at Lucid’s plant in Saudi Arabia, which currently only produces the Lucid Air with a capacity of just 5,000 units per year, and which Lucid plans to expand to 150,000 units/year in the future, although the exact timing of this is yet to be determined.

“Lucid Air

“Lucid Gravity”

　　Lucid has had some challenges in 2023, with fourth-quarter sales of just 6,001 units and a stock price that’s fallen 60% in the past year. Lucid currently has two models, the Air (which competes with the Model S ) and the Gravity (which competes with the Model X), which is expected to have a starting price of less than $80,000, and deliveries are expected to begin in 2024, with the vehicle being sold at a lower price than $80,000, and with deliveries expected to start in 2024, with the vehicle being delivered in the first quarter of the year. Deliveries will begin in 2024, and the car is built on a 900V electrical architecture, acquiring a range of 200 miles in 15 minutes and a maximum range of 708km.

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“Lucid Air”

Lucid Motors currently has two models, namely Air (competing Model S) and Gravity (competing Model X). The starting price of Gravity is expected to be less than US$80,000, and delivery is expected to begin in 2024 , the car is built based on a 900V electrical architecture and can obtain a cruising range of 200 miles (322 kilometers) in 15 minutes, with a maximum cruising range of 708km.

“Lucid Gravity”

At present, the official has not revealed more information about the new entry-level new car. However, the official said that the new car will not have the super performance of 1234 horsepower like the Lucid Air Sapphire. At the same time, due to the smaller battery size, its cruising range will also be lower. There is more than 800km of data. The overall new car will be closer to the level of household use, making it affordable for more people. For more information about the new car, we will continue to pay attention to the report.

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RangeXchange functionality is first available to U.S. owners and requires the separate purchase of the RangeXchange Charging Cable Adapter, which will be available exclusively later this month and will be enabled via an OTA software update.

It is noted that RangeXchange is Lucid’s first application of Wunderbox bidirectional charging technology, allowing energy to flow from the Lucid Air’s battery pack to charge another electric vehicle with 9.6 kW of power. The increased driving range depends on the energy efficiency of the other vehicle. and typical environmental factors.

For most electric vehicles currently on the U.S. market, 9.6 kW of charging power would add 24 – 40 miles per hour of range.

“RangeXchange is yet another example of the tremendous value we can provide through OTA updates long after customers purchase a vehicle,” said Mike Bell, senior vice president of digital at Lucid. “The system’s integrated approach to hardware and software allows us to deliver these added values. Update is what makes Lucid stand out in the automotive industry.”

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 Total revenue: US$138 million

 R&D expenditure: US$231 million

 Net loss: US$631 million

The first three quarters of this year:

 Total revenue: US$438 million 

 R&D expenditure: US$694 million 

 Net loss: US$2.175 billion

In the third quarter of this year, Lucid produced 1,550 vehicles and delivered 1,457 vehicles; in the first three quarters of this year, Lucid produced a cumulative production of 6,037 vehicles and delivered a total of 4,267 vehicles. Officials announced that they will lower their full-year production forecast for 2023 from 10,000+ to 8,000-8,500 vehicles.

In addition, both Lucid Air Pure RWD and Lucid Air Sapphire have started production in September, completing the launch of the entire Lucid Air model range.

In other aspects, Lucid’s final assembly production began to be transferred to the second phase of the Arizona plant; the transaction with Aston Martin was completed and strategic technology-related work arrangements were started; and the first manufacturing plant was opened in Saudi Arabia.

Marc Winterhoff has been appointed as the first chief operating officer, responsible for day-to-day operations and execution of global manufacturing, supply chain, sales and service, marketing and international markets.

It is worth mentioning that Lucid has also begun to warm up its second model and its first SUV-Lucid Gravity. According to reports, this Xichu year will be unveiled at the Los Angeles Auto Show on November 16, and production is expected to begin at the end of 2024.

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Of course, existing CCS charging models will also be able to connect to the Tesla Supercharger network through adapters in 2025.

“Adopting NACS is an important step in providing our customers with more reliable and convenient charging solutions for Lucid vehicles,” said Peter Rawlinson, CEO and CTO of Lucid. “We believe that unified charging standards across the country will help Supported by the launch of future-proof high-voltage charging stations, it will be a critical step in helping American consumers adopt electric vehicles.”

So far, BMW, Mercedes-Benz, Honda, Toyota, Subaru, Nissan, Jaguar, Hyundai, Kia and other car companies have announced their participation in the Tesla NACS charging standard.

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• Air Touring: The price has been reduced from US$95,000 to US$87,500 (currently about RMB 640,000), and the GT version has been reduced by US$10,000 to US$115,600 (currently about RMB 845,000).
• Air Pure: the price of the all-wheel drive version has been reduced from US$82,400 to US$74,900 (currently about RMB 548,000), while the price of the rear-wheel drive version remains unchanged at US$77,400 (currently about RMB 566,000).

It is understood that Tesla has lowered the price of the Lucid Air’s competing Model S to $74,990 (currently about RMB 548,000).

A report from research firm Cox Automotive showed that the electric vehicle price war has forced companies to prioritize sales over profits and reduced the average price of electric vehicles to US$50,683 (currently about RMB 370,000) in September.

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From the front, the car is equipped with a series of common designs for pure electric vehicles such as through-type headlights, a closed front face and a trapezoidal lower grille. It is basically consistent with its own sedan model Lucid Air. Another rear view The official picture shows that the car will adopt a two-color body design, with smooth sides and larger wheels.

The new car is also equipped with through-type taillights, and the interior is expected to adopt a dot matrix lighting layout, with Lucid’s letters in the middle of the light strip. In addition, the car is equipped with a larger spoiler to further enhance its sporty look.

Judging from the cockpit of the new car, the car will provide at least one layout with three rows and six seats, similar to its “potential rival” Tesla Model X and other models. According to information on the official website, the car will also have towing capabilities.

Prior to this, spy photos of Lucid Gravity’s overseas road tests have been exposed. The car is “very large” in size and is expected to continue the high performance, luxury and other features of Lucid Air. However, the specific power information of the new car has not been made public yet.

▲ Picture source BulappCar

According to previous reports, Lucid chief engineer Eric Bach confirmed in an interview with CNBC that the company is looking to sell cars in China “sometime in the future” and has made initial investments.

Eric Bach said, “Every automaker must or has already studied the Chinese market deeply. As we see it, this may be the largest and fastest market in the world to popularize electric vehicles, and this is something we are exploring and investing in.” “

“We haven’t announced a date for entering the Chinese market because we need to be ready,” Bach added. “If you enter the Chinese market in the wrong way, you can make a lot of mistakes.” He also said that the company’s presence in China There is a team exploring the feasibility of entering this market.

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Eric Bach, Lucid’s chief engineer, told CNBC at the IAA auto show in Munich, Germany, “Every automaker has to or has already looked at the Chinese market in depth. As we’ve seen, it’s probably the largest and fastest market in the world to popularize electric vehicles, and it’s something we’re exploring and investing in.”

“We haven’t announced a date for entering the Chinese market because we need to be ready.” Bach added, “If you go into the Chinese market the wrong way, you can make a lot of mistakes.” He added that the company has a team in China that is exploring the feasibility of entering that market.

“We need to determine how will we enter. What is our pricing strategy? What’s our manufacturing strategy?” Eric Bach says, “So we’re looking at what we should be doing as a young manufacturer, and we’re going to do it well.”

As it considers expansion, Lucid has faced some difficulties. In March, Lucid laid off about 18% of its workforce due to low demand. In addition, the company’s net loss widened in the second quarter, but revenues grew. lucid delivered 1,404 Air sedans in the second quarter, which fell short of Wall Street expectations.

For now, Lucid has positioned itself as an expensive luxury brand. At the IAA Auto Show, the electric carmaker showed off its Air Midnight Dream Edition, a limited edition of the Lucid Air electric sedan.

However, the company is now considering expanding its offerings into lower-price categories. Eric Bach confirmed that a mid-sized car could be launched in 2026, and said the company would eventually enter the mass-market segment of around $20,000 (Currently around Rs. 146,000), but that it would take some time.

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The Lucid Group aims to become a serious player in the electric vehicle market, and the development of the Gravity SUV is an important step towards this goal.

According to foreign media reports, the car can accommodate up to seven passengers, is equipped with a high-resolution display, and runs a new version of Lucid UX software, which is a custom Android-based infotainment system that includes built-in maps and voice control.

On Tuesday, the Lucid Group released two new photos and a teaser video of the upcoming luxury vehicle, announcing that it has entered “a new phase of development” and is being tested on public roads in the United States.

The luxury electric SUV is one step closer to mass production as the Lucid Group officially begins road testing the Gravity SUV.

Although the price of the Lucid Gravity SUV has not yet been announced, it is expected to exceed Lucid Air’s minimum price of 100,000 US dollars. The SUV will compete with Tesla’s Model X, Audi’s e-Tron and Mercedes-Benz’s EQC.

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