Introducing the Lucid Gravity Grand Touring SUV: Lucid’s Next Big Move
Lucid Group, a prominent electric vehicle startup, is gearing up to launch its highly anticipated Gravity SUV, with hopes of boosting sales and narrowing losses. CEO Peter Rawlinson is optimistic about the potential of the Gravity to significantly increase demand for Lucid’s products and propel the company to new heights.
The Gravity will be Lucid’s second vehicle, following the success of the Air sedan, which has been well-received in the market since its debut in late 2021. Customer ordering for the Grand Touring model of the Gravity is set to open on Nov. 7, with a starting price of $94,900. Additional models, including an entry-level Gravity Touring trim priced at $79,900, are expected to follow next year.
Rawlinson is confident that the Gravity SUV will attract a substantial amount of interest, citing a projected 6-to-1 sales ratio for SUVs over sedans. This anticipated surge in demand could be a game-changer for Lucid, as the company aims to establish a strong foothold in the EV market.
Despite facing challenges with market awareness and meeting customer demand, Lucid has managed to deliver 7,142 Air sedans to customers in the third quarter of this year, surpassing its 2023 deliveries. With the support of Saudi Arabia’s Public Investment Fund, Lucid is ramping up production at its U.S. plant in Arizona to meet growing demand for the Gravity.
As the company prepares for the launch of the Gravity SUV, Rawlinson emphasized the importance of finalizing federal crash testing and obtaining range testing certification. Lucid’s stock performance has been under scrutiny this year, with shares down approximately 40% due to slower-than-expected EV demand.
Investors are eagerly awaiting Lucid’s third-quarter results, scheduled to be released on the same day as customer ordering opens for the Gravity SUV. The Gravity Grand Touring promises over 800 horsepower and a projected electric range of more than 440 miles, positioning it as a formidable player in the EV market.
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