Lucid Motors, an electric vehicle startup, is planning a new midsize car priced competitively with Tesla’s Model Y Long Range. CEO Peter Rawlinson even hinted it might be slightly cheaper, targeting a price tag of around $48,000. This is a downward revision from their initial estimates of around $50,000.
It’s important to note that this car, nicknamed Project Midsize, is still a few years out (late 2026 production start). So, the price could change depending on material costs and customer demand. Other companies have had to adjust EV prices for these reasons in the past.
Lucid hasn’t revealed the final design yet, but they’ve teased a midsize crossover SUV shape under a cover. This new platform is crucial for Lucid’s future success. Their current luxury sedan, the Air, is impressive but expensive and hasn’t sold as well as hoped.
They aim to produce 9,000 Airs this year, which is similar to 2023. According to Rawlinson, this isn’t due to production limitations but rather a focus on building brand awareness and demand for the Air. They believe sales will follow as more people experience the car.
