Lucid's CEO Aims for $50k Electric Vehicle by 2030

author: FutureCar Staff    

Tesla's entry into the electric vehicle market began with the Model S luxury sedan, paving the way for the more affordable Model 3. Now, Lucid Motors seems to be following a similar trajectory, with plans to produce cars that are more accessible to the general public.

In an interview with ABC News, Lucid Motors CEO Peter Rawlinson discussed the company's plans and the current state of the automotive industry. Rawlinson, a former engineer at Tesla, Lotus, and Jaguar, has overseen the development of the Lucid Air and the upcoming Gravity SUV. These vehicles offer impressive range and performance, but Rawlinson aims to broaden the company's appeal by introducing models that can attract a wider market.

Rawlinson acknowledges that the high price point of electric cars is a significant barrier to widespread adoption. He emphasizes the need to lower prices so that more people can afford electric vehicles. While the cheapest Lucid vehicle currently costs over $80,000, Rawlinson hopes to target a price of around $50,000 in the future.

To achieve this price reduction, Lucid Motors aims to improve the efficiency of their electric vehicles. By developing more efficient cars that can travel longer distances on smaller battery packs, the cost of production can be reduced. Rawlinson envisions achieving an efficiency of 6 miles per kilowatt hour in the future, with a target of 5 miles per kilowatt hour for the Lucid Air.

Contrary to the belief that large-battery, long-range electric vehicles are the future, Rawlinson believes in highly efficient cars with smaller batteries. He envisions vehicles with 25 kWh batteries capable of traveling 150 miles on a full charge. In this scenario, regular short stops at charging stations would become the norm, allowing for quick top-ups while taking a break.

Expanding its customer base with more affordable vehicles is a logical step for Lucid Motors. However, the company faces the challenge of finding the right balance between technology and cost savings to create an attractive vehicle at a lower price point. Additionally, scaling up manufacturing to meet demand will be crucial. Despite the difficulties, Lucid Motors can look to Tesla's success over the past decade as proof that this path can yield significant rewards.

FutureCar Staff