Lucid Group, an electric vehicle startup, is eagerly awaiting the release of its highly anticipated Gravity SUV to help boost sales and reduce losses, as stated by CEO Peter Rawlinson. The Gravity will be Lucid’s second vehicle after the Air sedan, which has been selling in limited numbers since late 2021.
Customer ordering for the first model of the Gravity, the Grand Touring, is scheduled to begin on Nov. 7 on Lucid’s website, with a starting price of $94,900. Following this, other models, including an entry-level Gravity Touring trim starting at $79,900, are expected to be introduced late next year.
Rawlinson expressed confidence in a significant increase in demand for their products, especially the SUV models, which are anticipated to outsell the sedans by a ratio of 6-to-1. This shift in demand could greatly benefit the company, which has faced challenges in market awareness and meeting customer expectations.
Despite delivering 7,142 Air sedans to customers in the third quarter of this year, surpassing the 6,000 vehicles delivered in 2023, Lucid is still working to increase production at its Arizona plant to meet the expected high demand for the Gravity SUV. Production for customers is expected to begin by the end of this year, although the exact delivery timeline has not been disclosed.
Lucid is currently undergoing federal crash testing and awaiting range testing from the Environmental Protection Agency and the California Air Resources Board to finalize the Gravity SUV’s specifications. The company’s stock performance has been under pressure this year, reflecting the slower-than-expected demand for electric vehicles in the market.
The Gravity Grand Touring model is projected to offer over 800 horsepower and an electric range exceeding 440 miles, showcasing Lucid’s commitment to high-performance electric vehicles. As Lucid prepares to report its third-quarter results on Nov. 7, the same day customer ordering opens for the Gravity SUV, all eyes are on the company’s future success and its impact on the electric vehicle market.
