This week, Lucid Motors CEO/CTO Peter Rawlinson took part in a fireside chat at the Morgan Stanley Laguna Beach conference. The 30-minute interview covered the past, present, and future of Lucid Motors, including discussions about the Air, Gravity, and Midsize.
While discussing the Lucid Air, Peter confirmed that Lucid remains on track to deliver 9,000 units this year. He also noted that by the end of August 2024, the company had already surpassed its sales for all of 2023 with over 6,002 Lucid vehicles this calendar year.
During the discussion, Peter endorsed Lucid’s 4-step program for future growth. The first step is to increase brand awareness, which Peter believes is progressing well based on continued quarter over quarter growth. The second step is to get the Gravity on the road, which is on track for production by the end of the year. The third step is the launch of the Lucid Midsize with 3 models, scheduled for production at the end of 2026, with the aim of selling over one million units annually in the early 2030s. The final growth phase involves licensing technology, similar to the Aston Martin deal, Peter did indicate that they are having ongoing talks with other automakers.
With Gravity production starting soon, Peter discussed additional details about the new platform. It is built from the ground up and is a proper SUV, with similar powertrain and motors to the Air lineup, as well as 924V charging. The SUV features a 120 kWh battery with a range of 440 miles. Although they plan to produce a model starting under 80,000, it may not be available from the start. It’s likely we’ll see something similar to the Grand Touring equivalent first, followed by more affordable models in the near future.
The Lucid Midsize is expected to have a small 60 kWh battery providing 240 miles of range, with a price range of $48,000 to $50,000. It will be produced in two models at AMP-2 in KSA and an additional model at AMP-1.
The future of Lucid looks promising with the support of the Public Investment Fund (PIF), which is helping them achieve their goals. They have a long-term alignment for Vision 2030 and the Saudi government has committed to purchase 50,000 – 100,000 units. Currently, Lucid has enough cash on hand until Q4 2025.
Peter discussed Lucid’s software, highlighting their strengths in battery management, motor control, and traction control. However, he acknowledged the need for improvement in user interface software. He personally aims to lead this effort, with plans for a HUD display for the Gravity, Level 2 hands-off system, lane tracking, and lane change control. Lucid is also focusing on bringing most, if not all, of its technology development in-house for greater control and growth.
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