Lucid's CEO Aims for $50K EV Sales by 2030

author: FutureCar Staff    

Tesla's Model S luxury sedan paved the way for the company's transition into the mainstream with the Model 3. Now, Lucid Motors seems to be following a similar trajectory by planning to produce more affordable 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. Rawlinson, an ex-Tesla engineer with experience at Lotus and Jaguar, has overseen the development of the Lucid Air and the upcoming Gravity SUV, both offering impressive range and performance. However, Rawlinson aims to shift the company's focus to models that can appeal to a wider market.

"The main hurdle to widespread adoption of electric cars in the U.S. and globally is the high entry price," Rawlinson told ABC. "I am well aware that we need to lower the price so that more people can afford electric vehicles."

Currently, the cheapest Lucid vehicle costs over $80,000, but Rawlinson believes this can change in the coming years. "We are aiming for a price, although I can't guarantee it, around $50,000," he said. "I wish we could offer an even more affordable car, but this is the best we can do within the next few years."

The key to achieving this goal lies in improving the efficiency of new electric vehicles. More efficient vehicles can travel longer distances with smaller battery packs, reducing production costs. Rawlinson mentioned that the company hopes to achieve an efficiency of 6 miles per kilowatt hour in the future, while the Lucid Air currently achieves 4.74 miles per kilowatt hour.

Rawlinson also envisions a future where highly efficient cars with 25 kWh batteries can travel 150 miles on a single charge. In this scenario, regular short stops at charging stations would become the norm. "You need to adopt a top-and-go mentality with EVs," explained Rawlinson. "Grab a cup of coffee, use the restroom, plug in for eight minutes, and then you're good to go."

Expanding its customer base with more affordable vehicles makes sense for Lucid. However, the company will need to find the right balance between technology and cost savings to create a compelling vehicle at a lower price point, all while scaling up manufacturing to meet demand. It's a challenging road, but one that can yield significant rewards, as demonstrated by Tesla's success over the past decade.

FutureCar Staff