The electric vehicle market is becoming more competitive as companies push to capture market share.
Lucid Motors, a smaller American EV maker, has announced bold plans to take on Tesla despite facing financial difficulties.
CEO Peter Rawlinson remains optimistic about Lucid’s future and claims their vehicles are far better than Tesla’s.
In a recent interview on the Wall Street Journal podcast “Bold Names,” Rawlinson explained that Lucid’s current models, the Air sedan and the upcoming Gravity SUV, are just the beginning of a larger strategy.
The company plans to introduce more affordable models to compete directly with Tesla, according to Boosted. While these moves are ambitious, Lucid is still losing money on every car it sells.
Gains in Luxury Segment
Lucid’s sales figures reflect both progress and challenges.
The company delivered 1,944 vehicles in the last three months, a 33% increase from the previous quarter.
By comparison, Tesla sold only 1,669 Model S vehicles in the U.S. during the same period. This is a 47% decline.
Even tough the broader EV market shows signs of slowing, Lucid is already making gains in the luxury segment.
Its Air sedan has surpassed the Porsche Taycan and Mercedes-Benz EQS in sales, according to Electrek.
With the launch of the Gravity SUV next year and plans for a mid-sized SUV, Lucid aims to position itself as a direct competitor to Tesla.
Rawlinson stated that while Lucid will move into more affordable markets, it will avoid the lowest-budget segments.
The CEO also addressed the future of autonomous driving.
He expressed doubts about the readiness of self-driving technology for large-scale implementation, suggesting the industry has a long way to go before it becomes viable.
Lucid’s vision is ambitious, but the company’s ability to compete with Tesla and other established players will depend on how well it balances innovation and financial sustainability.
