Lucid Motors hopes that the third time is the charm.
The EV maker revealed earlier this week that its third model will be a midsize SUV that arrives in 2026, according to Car and Driver. And unlike the Air and upcoming Gravity (pictured above), the unnamed vehicle will carry an accessible price tag and, in theory, be sold in high numbers.
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News of the company’s third model comes from as reliable of a source as you’ll find for Lucid information: CEO Peter Rawlinson. During the company’s first-quarter investor call on Monday, the executive confirmed that the marque plans to begin building a midsize SUV in Saudi Arabia (the country’s Public Investment Fund is one of the company’s biggest investors) in 2026. He also referred to the EV as a high-volume model and said that it would start “around $48,000.”
“I’m confident that we can achieve unrivaled levels of efficiency for this crucial mid-size-class vehicle,” Rawlinson is quoted as saying. “And again, I can’t stress enough, efficiency is the key to a smaller battery for any given range, and a smaller battery is a key element to lower cost when it comes to making an EV.”
Lucid could use a high-volume—which in this case means high-selling—model. The company may sell one of the most impressive EVs on the market, the monstrously powerful and efficient Air, but it continues to hemorrhage cash ($685 million last quarter). It’s also found it extremely difficult to build demand for its EVs, though the arrival of the full-size Gravity SUV could help on that front.
The biggest key to its third model’s success might be its price tag. The $48,000 starting cost mentioned by Rawlinson is significantly lower than any of the marque’s other vehicles. The entry Air Pure, which has 430 hp and a 410-mile range starts at $69,900, but the range-topping Sapphire, which has over 1,200 hp and a 516-mile range, costs $249,000. The Gravity, which will launch later this year, is expected to be priced under $80,000.
If Lucid can stick to that price—which Tesla showed with the Cybertruck is easier said than done—it really might finally have a high-volume model on its hands.
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Source Agencies
