Lucid Motors has been making expensive, high-end electric cars like the Air sedan or the Gravity SUV, but now, the company wants to build EVs that more people can afford. During a meeting with investors, Lucid shared plans for a new midsize platform, which will help them build EVs that cost less than $50,000. For a brand that usually sells cars for over $100,000, this is a big change.
The company announced the names of its next two vehicles: the Lucid Cosmos and the Lucid Earth. These models are smaller than the current Air and the Gravity. Lucid also mentioned a third vehicle is coming later, but they haven’t picked a name for it yet. This mystery model looks like it will be a very large vehicle, almost like a van.
Lucid revealed its future models during Investor Day
To make these new electric cars cheaper, Lucid is changing how it builds them. The engineers found ways to use fewer parts and simpler manufacturing. One of the biggest updates is a new motor called “Atlas.” This motor is smaller and lighter than the ones used by the company now. It also uses 30% fewer parts, and because it is easier to make, it costs Lucid much less money to build each car.
Battery packs are usually the most expensive part of any EV, and Lucid plans to save money here, too. The company is known for making very efficient cars that go a long way on a single charge. Because the technology is so good, Lucid can use smaller, lighter batteries. These smaller batteries can still reach the same driving range as competitors who use much bigger, heavier ones. This trick helps lower the price of each car by thousands of dollars.
Entirely new platform will help Lucid produce cheaper EVs
The Lucid Cosmos is designed for people who love speed. Lucid says it will be a high-performance vehicle that will go from 0 to 60 mph in 3.5 seconds or less. On a chart showing different types of cars, Lucid placed the Cosmos in the “sporty and advanced” corner.
The Lucid Earth focuses more on being helpful and functional. While it uses the same advanced technology as the Cosmos, it is designed for daily tasks and adventures. Lucid thinks both the Earth and the Cosmos will appeal to people who like to explore. The third, unnamed model will be the most practical of the bunch, focusing entirely on space and utility rather than speed.
New ”Atlas” motor is simpler but as powerful and efficient as older units
Lucid is also working on a program for robotaxis. To make more money, Lucid will offer monthly subscriptions for self-driving features. The company is also finally adding Apple CarPlay and Android Auto to its fleet, making it easier for drivers to connect their phones to the car’s dashboard.
By selling more affordable electric cars, Lucid hopes to grow its business. Building luxury cars is great, but selling more vehicles helps a company stay healthy. If this plan works, we will see many different types of Lucid vehicles on the road soon.
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