Written by Cláudio Afonso | LinkedIn | X
The luxury electric vehicle manufacturer, Lucid Motors, has achieved a new record result in vehicle efficiency, the CEO and CTO Peter Rawlinson said at the Deutsche Bank Global Auto Industry Conference on Tuesday.
Rawlinson revealed that the company has achieved a certified five miles per kilowatt-hour (kWh) efficiency with one of its products.
“We’ve been founded and formed as a company to really advance the state-of-the-art in electric vehicle technology,” Rawlinson stated during his presentation. “Today, I’d like to announce that we have finally achieved a major objective. We’ve managed to achieve a certified five miles per kilowatt-hour with one of our products. This is a landmark achievement validated by the EPA.”
The chief executive also highlighted Lucid’s long-term goal to achieve six miles per kWh, underscoring the company’s commitment to sustainability and technological innovation.
“Our objective as a company is to get to six miles per kilowatt-hour because nothing less than that is going to save the planet,” he said.
NEVER MISS AN UPDATE
When asked about the key milestones to achieve scale and positive gross margins, Rawlinson defined the next three big steps for the EV startup.
“It’s all about scale. We have three steps: growing Lucid Air sales, introducing Gravity SUV, and developing the mid-size vehicle platform by late 2026.”
Last week, Lucid has filed on Wednesday a registration statement on Form S-8 with the Securities and Exchange Commission (SEC) to register an additional 122,342,994 shares. According to the form filed by the manufacturer, the shares are valued in $332.7 million.
The shares will be allocated under Lucid‘s Amended and Restated 2021 Stock Incentive Plan, which includes the 2021 Employee Stock Purchase Plan.
Lucid sold 13 units of its first production model, the Lucid Air, in Germany during May, according to data released by the German Federal Motor Transport Association (KBA) on Wednesday.
Globally, Lucid delivered 1,967 vehicles in the first quarter, marking a nearly 40 percent increase compared to the same period last year. Over 500 of these vehicles were delivered to Saudi Arabia, as disclosed by CEO Peter Rawlinson during a recent earnings conference call.
According to a video posted on X, the company has started the shipping of the first Saudi Arabia-made Lucid Air luxurious sedans from its newly established manufacturing facility in King Abdullah Economic City (KAEC) in Rabigh.
The shipment includes 350 vehicles, marking a significant milestone for the electric vehicle (EV) maker as it expands its footprint in the Gulf region, according to a video posted on X.
This first shipment is destined for the United Arab Emirates and other Gulf countries, a user noted on X, highlighting the broader reach of Lucid’s innovative electric vehicles (EVs) in the region.
Written by Cláudio Afonso | LinkedIn | X
