Lucid says Tesla Model Y competitor will start under $50,000

Lucid Motors has revealed its mid-size vehicle launch plan and confirmed it will start below $50,000 to compete against Tesla.

The luxury electric vehicle (EV) company made this announcement during Technology & Manufacturing Day on September 10 at its Arizona factory.

This new vehicle will use the Midsize platform, which will be released somewhere in 2026. It is also confirmed that the new model will emerge as a crossover.

Lucid is currently selling its one and only Lucid Air electric sedan. It is preparing for the mass production of the Lucid Gravity electric SUV later this year and delivery in the first half of 2025.

So, a crossover will get a good mixture of these two vehicles and bring it to the public at a price to compete against the EV giant Tesla.

Design

The company has shared a teaser image for the new midsize EV with a few aspects to explore.

It has a Lucid gravity-like front, which looks muscular. The frunk has carvings and is designed with Lucid branding. The rear suggests a hatchback enclosed and it could also be identical to Gravity.

Lucid Midsize Vehicle (Source – Lucid)

The image is slightly exposed and it doesn’t separate from Gravity, at least from the above.

Competition

This new model will be launched against Model Y, the most dominating EV in the market. That’s where the price kicks in, Model Y starts at $44,990 (as of September 2024). With Federal incentives, it goes down $37,490, an affordable price point for customers.

During the first quarter earning call, Peter Rawlinson, Lucid CEO said this new midsize vehicle will be a high-volume production vehicle.

Eventually, it depends on the price of the vehicle and how much it could offer in the affordable segment.

Still, more details are awaited on this mysterious $50,000 Lucid EV slated for 2026.

(source)