BusinessAug 19, 2024
Lucid Claims Its New EV Is the “Most Efficient Production Car Ever” — But Will That Win Over Customers?
Strategic Engineering
Noah Weidner
Discover
Lucid Motors might not have the sales, profits, or deliveries of its EV competitors, but it might hold the lead in one major way — efficiency (…no, we’re not talking about that financial kind). The new 2025 Lucid Air boasts up to 512 miles of range, making it the most efficient EV on the market — but starting at $71K, it isn’t cheap.
Self-driving to profits: Lucid’s tech might give it a key edge in the warming EV market, with the Lucid Air and the upcoming Lucid Gravity SUV targeting luxury buyers. Yet, the firm still needs to prove that its efficiency can translate into market share or profits. Lucid reported a $790M net loss in its latest quarter, averaging $328K per car. The company will have to depend on cash infusions from Saudi Arabia’s wealth fund and hopes that the launch of its more affordable electric SUV will draw in more consumers.
