Healthy demand for Lucid Performance trim could benefit ASPs/mix later this year, Citi says

Written by Cláudio Afonso |

Lucid Motors announced on Tuesday that it will introduce a new version of Lucid Air, the Lucid Air Grand Touring Performance. The new Lucid Air Grand Touring Performance delivers 1,050 horsepower and accelerates from 0-60 mph in 2.6 seconds.

On Wednesday morning, Citi analyst Itay Michaeli released a note sharing his thoughts: “The introduction of new trims is fairly common and so we don’t view this as major news. However, if Lucid does see healthy demand for this new Performance trim, it could benefit ASPs/mix later this year”.

“Lucid Air Grand Touring Performance answers the strong demand we continue to see for higher-performance versions of the Lucid Air,” said Peter Rawlinson, CEO and CTO, Lucid Group. “The remarkable speed with which we are able to conceive and bring this model to market is possible only because of Lucid’s high degree of vertical integration and in-house production of our proprietary EV powertrain and battery pack technology.”

The company will inaugurate its first European showroom in Germany in May amid global expansion. The confirmation was made through a billboard placed on Terminal 2 in Munich (Germany) saying: “Visit our Lucid Studio in Munich. Opening May 2022.”

In addition, the company has recently requested a permit to open a studio in The Netherlands. The studio will be located in Hilversum, which is 30km from the capital Amsterdam, and will be on the same building previously used by a BMW dealership. Lucid has currently 15 Studios in the United States expecting to open another 14 during this year. Check every location and the upcoming Lucid Studios here.

On March 24, the company announced the official opening of its newest Studio location at the Yorkdale Shopping Centre in Toronto, Ontario. The studio is the second one in Canada and the 23rd in North America. The company also unveiled a collaboration with Electrify Canada and expects to begin Canadian deliveries of the Lucid Air in Spring 2022.

Recently, Lucid Air model was named the Luxury electric vehicle of the year by, the leading automotive marketplace platform. enhanced Lucid’s “mind-melting acceleration” and a “quiet, comfortable ride”.

Written by Cláudio Afonso |