Lucid CEO Aims for $50K Electric Vehicle by 2030

author: FutureCar Staff    

Tesla's entry into the electric vehicle market was marked by the release of the Model S luxury sedan, paving the way for the more affordable Model 3. Now, it seems that Lucid Motors is following a similar trajectory, with plans to produce cheaper cars in the near future.

In an interview with ABC News, Lucid Motors CEO Peter Rawlinson discussed the company's plans and the current state of the automotive industry. With his background as an ex-Tesla engineer, as well as experience at Lotus and Jaguar, Rawlinson has overseen the development of the Lucid Air and the upcoming Gravity SUV, both offering impressive range and performance. However, Rawlinson intends to shift the company's focus to models that can appeal to a wider market.

"The main obstacle to widespread adoption of electric cars is the entry price point," Rawlinson told ABC. "We need to lower the price so that more people can afford electric cars."

Currently, the cheapest Lucid vehicle costs over $80,000, but Rawlinson hopes to change that in the coming years. "We are aiming for a price of around $50,000," he said. "I wish we could go lower, but this is the best we can do in the next few years."

The key to achieving this goal lies in finding efficiency gains for new electric vehicles. By making vehicles more efficient, they can travel longer distances on smaller battery packs, which ultimately reduces manufacturing costs. Rawlinson revealed that the company aims to achieve an efficiency of 6 miles per kilowatt hour in the future, while the current Lucid Air achieves 4.74 miles per kilowatt hour.

Rawlinson also believes that the future of electric vehicles does not necessarily lie in large-battery, long-range cars. He envisions a world where highly efficient vehicles with 25 kWh batteries can travel 150 miles on a full charge, and where short stops at charging stations become the norm. "You need to adopt a top-and-go mentality with EVs," he explained. "Take a break, plug in for eight minutes, and then continue on your way."

Expanding its customer base with more affordable vehicles makes sense for Lucid Motors. The challenge lies in finding the right balance between technology and cost savings to build an appealing vehicle at a lower price point, all while scaling up manufacturing to meet demand. It's a difficult path, but one that can yield great rewards, as demonstrated by Tesla's success over the past decade.

FutureCar Staff