Lucid CEO Projects Ambitious Goal: Aims for Annual Million EV Sales

FYI: Lucid Motors redefines the EV market with groundbreaking technology and extraordinary efficiency, aiming for global dominance.

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Lucid Motors: Pioneering the Future of Electric Vehicles

Lucid Motors continues to make headlines with its cutting-edge electric vehicle (EV) technology, outpacing both traditional automakers and even the current EV leader, Tesla. CEO Peter Rawlinson has been vocal about Lucid’s market-disrupting potential, affirming his conviction that Lucid will soon dominate the automotive landscape. During a recent interview at the 2024 Goodwood Festival of Speed, Rawlinson reiterated his bold ambitions for Lucid Motors.

### Lucid’s Technological Edge vs. Market Share

While Lucid boasts some of the most advanced, swift, and efficient EVs available, the Arizona-based, Saudi-backed company must significantly ramp up production to hold sway on the global stage. Last year, Lucid produced just over 8,400 vehicles. Rawlinson made it clear that the company needs to scale up, emphasizing, “Do not think of Lucid as a niche luxury car company. We’re gonna be huge. I want us to sell a million units a year and have a much bigger impact than that.”

Currently, Lucid’s lineup consists of the Air sedan, a luxury vehicle with a base price of $69,900. While this price point keeps Lucid from being a volume player, plans are underway for a more affordable $48,000 midsize model that will help the company reach its ambitious sales targets.

### The Battery Cost Factor

One of the most striking points Rawlinson raised was the cost disparity between electric and gasoline vehicles. According to him, “Over 40% of the cost of building that car is the cost of the battery. The gasoline engine might cost $2,000 to make; the electric battery pack can cost $20,000.” While competitors focus on gigacasting—a manufacturing process that might save $130 per car—Lucid aims to cut down the significant cost of battery packs. This strategic focus indicates Lucid’s commitment to making EVs more accessible without compromising on technology.

### A 900-Volt Architecture Leading the Pack

Lucid’s EVs are already distinguished by their 900-volt architecture, the highest of any production EV. This advanced system not only enhances charging speeds but also ensures that Lucid cars consume electricity more efficiently than competitors’ models. The Lucid Air, for example, recently achieved a class-leading efficiency of just 5 miles per kilowatt-hour (kWh), allowing the Air Pure to travel over 400 real-world miles on a single charge of its 84 kWh battery.

### The Gravity SUV: A New Contender

Rawlinson’s confidence extends to Lucid’s forthcoming Gravity SUV, which he claims will set a new benchmark for SUVs globally. Expected to rival models like the Rivian R1S, Rawlinson didn’t hold back: “‘How is Rivian gonna respond?’ Because Gravity is gonna be the best SUV out there, and no one will be able to compete with it. To me, product is king. Bring it on […], but I’ve driven the R1S, and I’ve driven the Gravity. I’m not worried.”

### Efficiency is Key

On the subject of efficiency, the Lucid Air continues to set new standards. Lucid’s recent announcement highlighted that the Air sedan, revised for the 2025 model year, achieved an efficiency figure of 5 miles per kWh consumed, surpassing the efficiency of models like the BMW i5 M60. For context, the BMW i5 M60 can only cover about 265 miles with its 81.2 kWh battery, compared to the Lucid Air Pure’s 400+ miles.

When put through rigorous range tests, such as a 70 mph challenge, the 2022 Lucid Air Dream Edition managed to cover over 500 miles on one charge with an average consumption of 4.3 miles per kWh. This was two years ago, and the advancements Lucid has made since then further solidify its standing as an EV leader.

### Conclusion

Lucid Motors is not just another player in the EV market; it’s a technological powerhouse poised to rewrite the rules of automotive excellence. With Rawlinson at the helm, Lucid is set on a course to transform from a luxury niche manufacturer into a global powerhouse. The combination of groundbreaking technology, future vehicle models, and the relentless drive to cut battery costs positions Lucid as a formidable contender in the battle for EV market dominance.

Stay tuned for more updates from the evolving world of electric vehicles at Automotive.fyi—where passion meets innovation.

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Written by: William Kouch, Editor of Automotive.fyi