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

author: FutureCar Staff    

Tesla paved the way for affordable electric vehicles with its Model S luxury sedan, and now Lucid Motors is looking to follow a similar path. Lucid CEO Peter Rawlinson, a former Tesla engineer, has overseen the development of the Lucid Air and upcoming Gravity SUV, both offering impressive range and performance. However, Rawlinson plans to shift the company's focus to models that can appeal to a broader market.

In an interview with ABC News, Rawlinson acknowledged that the high entry price point of electric cars is a major obstacle to widespread adoption. He emphasized the need to push prices down so that more people can afford electric vehicles. While the cheapest Lucid currently costs over $80,000, Rawlinson hopes to target a price of around $50,000 in the future.

Efficiency gains are crucial in achieving this goal. By making vehicles more efficient, they can travel farther on smaller battery packs, ultimately reducing production costs. Rawlinson aims to achieve an efficiency of 6 miles per kilowatt hour for future EVs, while the current Lucid Air achieves 4.74 miles per kilowatt hour.

Interestingly, Rawlinson believes that large-battery, long-range EVs may not be the future. He envisions a world where highly efficient cars with 25 kWh batteries can travel 150 miles on a full charge. In this scenario, short stops at charging stations would be the norm, allowing drivers to quickly top up their batteries while taking a break.

Expanding its customer base with more affordable vehicles is a logical step for Lucid. However, the company will need to find the right combination of technology and cost savings to build a compelling vehicle at a lower price point, all while scaling up manufacturing to meet demand. It's a challenging road ahead, but one that has proven successful for Tesla over the past decade.

FutureCar Staff