Lucid CEO anticipates 5 miles per kWh with new EV

Lucid CEO and CTO Peter Rawlinson said that his electric vehicle (EV) company is close to achieving a breakthrough in 5 miles per kWh driving range efficiency.

While speaking at the Financial Times Future of the Car Summit, Rawlinson predicted that this 5 miles per kWh could be achieved by this year with a new EV model.

Tesla Model 3 is currently the top player in this field with slightly over 5 miles per kWh efficiency. Tesla Model Y, Hyundai IONIQ 6, and Renault Megane E-Tech Electric are also offering near and over 4.5 miles per kWh.

Lucid Air, the company’s ultra-premium EV, provides 4.5 miles per kWh, which costs twice the prices of these above-mentioned models. However, I must also mention that its four versions Pure, Touring, Grand Touring, and Sapphire offer over 400 miles of range except the Grand Touring, which enables more than 500 miles.

Five miles per kWh is on the horizon and represents an important landmark in our dual mission to save the planet and drive down the cost of EVs. https://t.co/zXxN04N946

— Lucid Motors (@LucidMotors) May 10, 2024

In the first quarter of 2024, Lucid reported 1,967 deliveries with a 39.9 percent year-over-year increase. The company accounted for $172.7 million in revenue, which exceeded expectations of $150.1 million and was nearly 16% higher than the previous year.

That’s not it, the luxury EV company is continuing to roll on track to release new EV models this and next year. One is the new Gravity SUV scheduled to start production in late 2024. The Gravity SUV will have a range of trim prices starting at under $80,000.

Lucid Gravity SUV Production Slated for Late 2024 (Image Credit: Lucid)

The car will be equipped with a seater experience with extra space for stuff, improved aerodynamics, and driving range. It will introduce a new Glass Cockpit and high-resolution displays featuring next-gen Lucid UX and software system.

Furthermore, Lucid planned to introduce a new midsize platform for production in late 2026. This car is expected to provide volume production to Lucid and it could compete against Tesla, according to the company’s chief.