Lucid Motors CEO declares electric vehicle ‘technology race’ against Tesla
Peter Rawlinson says Lucid vehicles are prepared to compete 'at the top'
Lucid Motors to begin Lucid Air EV deliveries in October
Lucid Motors CEO Peter Rawlinson discusses the rollout of the automaker's electric vehicle product.
The electric vehicle space has been dominated by the hype of Tesla but Lucid Motors CEO Peter Rawlinson is adamant that his fast-charging, sustainably-sleek Lucid Air will give Elon Musk a run for his money.
Rawlinson explained Wednesday on "The Claman Countdown" that Lucid Motors and Tesla are the only two EV producers whose technology is developed in-house.
"There’s only been one winner in this game to date and that’s Tesla," he said. "This is a technology race and the others and the others do not appear to be in that race."
HERE'S HOW LUCID LEFT TESLA IN ITS WAKE WITH 520 MILES OF ELECTRIC CAR RANGE
BMW and Rolls Royce have also officially entered the competitive EV space. Rawlinson stuck to his word, pressing that he always welcomes the competition – especially since Lucid is showing off the "most advanced technology" in the sector.
"Do not forget that this is an electric vehicle technology race and we are here to compete at the top table," he said.
A Lucid Air Dream Edition flashes a roughly $161,000 price tag which is about a $70,000 difference compared to a Tesla Model S. But Rawlinson ensured that his greatest "passion" is to eventually drop the price by $100,000 on the new Lucid Air Pure model.
Even though the valuation of the company has been questioned by institutions like Morgan Stanley, Rawlinson explained that the automaker’s vision is long-term. And compared to other luxury carmakers like Porsche and Mercedes, he said, the price point is only a "snip" of the others with all tech features considered.
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"That’s my passion because that’s where the volume is and that’s where Lucid’s going to operate," he said. "Do not think of Lucid as just a niche, ultra-luxe player. That’s our starting point."
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| LCID | LUCID GROUP INC. | 2.09 | +0.06 | +2.96% |
| TSLA | TESLA INC. | 343.00 | +0.97 | +0.28% |
"My passion is to bring the price point down to make our world-class EV tech available to more people."
Lucid announced this week that initial deliveries of the Air Dream sedans will begin rolling out in October. Rawlinson said the company is "pushing like crazy" to meet the benchmark number of 577 deliveries.
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Lucid Motors stock was up around 8% at Wednesday’s market close.
