Can Lucid (LCID) create 1 million eV per year? CEO Peter Rawlinson said this is his vision and that Lucid has an ambitious plan to achieve it. After launching Gravity, the first electric SUV, Lucid will enter the mass market on a mid-sized platform starting at around $50,000. Although Rawlinson said this is “when it’s finally time to compete directly with Tesla,” EV makers have even bigger plans to drive growth.
After delivering its first gravity model in December, Lucid CEO claims that the electric SUV is “destined to become a groundbreaking product” with an EPA estimated range of 450 miles.
At the Bloombergnif Summit in San Francisco last week, Rawlinson explained how the company plans to become a powerhouse in the EV space.
Gravity is an impressive vehicle with technology and true seven-seaters (not five-seaters, but two kids in the back, and many of our rivals offer, but that’s what you’re saying This makes the electric SUV unique, which is something you can’t see.
Gravity achieves driving range of up to 450 miles with a 123 kWh battery. Rawlinson said the fact that the battery can achieve very long operating ranges with very few batteries is evidence of Lucid’s technology, which he claims to be “the most advanced technology in the world.”
Lucid was the first to launch an EV in the 520-mile range. At the summit, Rawlinson insisted that “no one is within 100 miles of the range three years ago.”
Lucid delivered more than 10,200 vehicles last year, up 70% from 6,001 in 2023, increasing by around 3,500 in 2022. Rawlinson said the company is seeing “exponential sales growth,” but hopes things will recover in the coming years.
Lucid is launching new EVs and technologies to drive growth
Following gravity, Lucid launches the Midsize platform. The platform supports sedans and crossovers starting at around $50,000. According to Rawlinson, this is when Lucid “competes directly with Tesla” as a direct rival to the bestselling Model Y and Model 3.
But as Rawlinson explained, “lucid doesn’t exist to become a niche luxury manufacturer.” Lucid is in luxury space “at this time” because it needs to be for financial support. .
Lucid’s trademark is the company’s technology. Some of the most advanced technologies are available on the market, which means they are “cascaded down” and reduces the costs of mass-produced EVs.
“We want to make lucid huge,” Rawlinson said. By the early 2030s, he imagines producing one million cars each year.
Lucid plans to achieve that through progressive steps. After firing air, Lucid’s first electric SUV is now on the market. In the second half of 2026, Lucid is expected to begin production of medium-sized platforms.
By then, Rawlinson believes Lucid has a huge advantage. Battery is the biggest cost to create an EV with the most efficient technology, so Lucid can offer a competitive range at a low price.
Not only that, Lucid is developing a new, affordable “Atlas” drive unit. Rawlinson argued that the new drive unit would be a “absolute breakthrough” for Lucid and the planet to reduce EV costs.
The company has already licensed its technology to other car manufacturers. This could be even bigger business for the ilid than selling the vehicle.
Last year, Lucid secured a high-tech partnership with Aston Martin, providing its own powertrain technology for the UK automaker’s upcoming electric vehicles.
Rawlinson said Lucid is discussing similar licensing partnerships with several others. According to Lucid CEO, EV adoptions will continue to rise over the next few years, with some OEMs left behind. “The trains are leaving the station,” he said. That’s why Lucid is open to strategic alliances through its technology licensing.
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