facebook
  • Bruce Swartz , CRS (602) 524-0531

Community Information


Content Image












By   – TechFlash Editor, Silicon Valley Business Journal

 Updated 




 

Lucid Motors Inc. on Tuesday said it is making the initial 80 prototype models of its first electric vehicle, the Air, ahead of a formal unveiling in New York in April.


The Newark, California, company is building the first batch of cars at a large manufacturing and lab space formerly occupied by failed blood-testing business Theranos Inc. It plans to start making the cars for sale during the fourth quarter of this year at a huge factory it is building in Casa Grande, south of Phoenix in Pinal County.


The prototypes built in the Bay Area will be used for comprehensive testing and validation of key vehicle dynamics, as well as crash testing to confirm numerous simulations that the company has done.


Lucid last year cut the cost of reserving an Air from $2,500 to $1,000. It said this week the first company stores where the cars will be sold are taking shape. It hasn't said yet exactly what the Air will cost or where its stores will be and has yet to detail the overall plan for its sales and service network. The reservation fee is fully refundable.


Lucid in the past said it plans to build two versions of its electric vehicle, going head-to-head in the market that Palo Alto-based Tesla Inc. has pioneered. It pegged the base price at the time at around $60,000, which is expected to top $100,000 with options. That puts the Air roughly in line with Tesla's Model S luxury sedan, which is priced from $80,000 for the base model to more than $100,000 for the performance version with options.











"(The stores) will not only give customers a firsthand experience of our vehicles but provide exceptional service once they are on the road," Lucid said in its announcement Tuesday. "This forward momentum will continue with plans for a nationwide Lucid Air tour this summer, exclusive store openings, and the launch of a groundbreaking configurator so you can build your own vehicle to personal preferences."


Lucid has raised more than $1 billion in funding, with most of that coming in a huge investment in 2018 from Saudi Arabia's Public Investment Fund, that government's sovereign investment arm. The same fund owns a sizable stake in Tesla.


Peter Rawlinson, Lucid's CEO and chief technology officer, helped design Tesla's Model S sedan, but left the company in 2012.
















By   – TechFlash Editor, Silicon Valley Business Journal

 Updated 




 

Lucid Motors Inc. on Tuesday said it is making the initial 80 prototype models of its first electric vehicle, the Air, ahead of a formal unveiling in New York in April.


The Newark, California, company is building the first batch of cars at a large manufacturing and lab space formerly occupied by failed blood-testing business Theranos Inc. It plans to start making the cars for sale during the fourth quarter of this year at a huge factory it is building in Casa Grande, south of Phoenix in Pinal County.


The prototypes built in the Bay Area will be used for comprehensive testing and validation of key vehicle dynamics, as well as crash testing to confirm numerous simulations that the company has done.


Lucid last year cut the cost of reserving an Air from $2,500 to $1,000. It said this week the first company stores where the cars will be sold are taking shape. It hasn't said yet exactly what the Air will cost or where its stores will be and has yet to detail the overall plan for its sales and service network. The reservation fee is fully refundable.


Lucid in the past said it plans to build two versions of its electric vehicle, going head-to-head in the market that Palo Alto-based Tesla Inc. has pioneered. It pegged the base price at the time at around $60,000, which is expected to top $100,000 with options. That puts the Air roughly in line with Tesla's Model S luxury sedan, which is priced from $80,000 for the base model to more than $100,000 for the performance version with options.











"(The stores) will not only give customers a firsthand experience of our vehicles but provide exceptional service once they are on the road," Lucid said in its announcement Tuesday. "This forward momentum will continue with plans for a nationwide Lucid Air tour this summer, exclusive store openings, and the launch of a groundbreaking configurator so you can build your own vehicle to personal preferences."


Lucid has raised more than $1 billion in funding, with most of that coming in a huge investment in 2018 from Saudi Arabia's Public Investment Fund, that government's sovereign investment arm. The same fund owns a sizable stake in Tesla.


Peter Rawlinson, Lucid's CEO and chief technology officer, helped design Tesla's Model S sedan, but left the company in 2012.