Lucid Motors‘ interim chief executive officer, Marc Winterhoff, has revealed in a new interview that the average selling price (ASP) of the Gravity SUV is currently at “about $120,000.”
Unveiled in late 2023 at the LA Auto Show, the first Gravity SUV rolled out of the production line in late July 2024, driven by former CEO and CTO Peter Rawlinson.
Late last year, the company announced the pricing for the Grand Touring and the Touring versions of the Gravity.
Back then, it announced that production would begin with its most expensive variant before adding the Touring trim in “late 2025.”
The first small-scale deliveries of the SUV started in the final days of 2024 to employees, their families and friends.
The Gravity Grand Touring starts at $94,900, while the Touring version is expected to start at $79,900, with production set to begin later this year at the Casa Grande, Arizona, plant.
In Europe, where the Gravity debuted last month, the company introduced both trims. However, only the Grand Touring is currently available to order.
In an interview with media outlet Semafor, Winterhoff said that Gravity demand has been “strong.”
The interim CEO said that the EV maker has “decided to honor the $7,500 subsidy for all of our orders that we have through the end of the year,” despite the federal tax termination.
“We didn’t want to frustrate those customers, as we’re still ramping up [production], so we took that hit,” the chief executive said.
And Lucid was “able to do that because the actual average selling price of the Gravity, as it’s currently configured by our customers, is significantly higher than we thought,” Winterhoff added.
According to the CEO, the SUV has been selling for an average price of “about $120,000 on a starting price of $94,900,” implying that customers are paying $25,000 more in added features.
This includes “the technology package, dynamic driving, rear-wheel steering, and so on,” Winterhoff said.
“It’s really surprising,” he admitted, noting that the company “thought that the people would be more selective.”
A fully loaded Lucid Gravity SUV is priced at $126,500, in which is included the upgrade to the seven-seat version, which adds $2,900.
A destination fee of $1,650 is excluded bringing the final purchase price to $128,150.
Appearance options, including different exterior and interior configurations, range from $1,000 to $6,200.
Technology upgrades include the sound system ‘Surreal Sound Pro’ for $2,900 and the Technology Package for $3,200.
The driver-assistance system can also be upgraded from the standard DreamDrive 2, at a cost of up to $6,750 for the Pro version.
In the same interview, and when questioned about Chinese EV maker’s dominance all over the world, Winterhoff said he “wouldn’t call it dominance.”
The interim CEO added that the Irvine-based EV maker does not “want to be competing with low-cost Chinese vehicles.”
Lucid has “no plans to go to China,” according to Winterhoff, which includes sales and manufacturing.
“When I started to work with Lucid in 2018, the long-term plan certainly [was to have] a big plant in China,” he revealed. “At that time, I already said it’s not a good idea.”
The chief executive said that, for him, “it was clear that they would squeeze out the international players at some point, that [Chinese companies would say,] ‘Once we have all of your knowledge, then you can get out.’”
“And that’s exactly what happened,” Winterhoff said before detailing the reaction of building a second plant in Saudi Arabia, instead of China.
“And at that time, the decision was made to not build a plant in China, but in Saudi Arabia, and people looked at us like we had two heads,” the interim CEO stated.
Lucid Motors is backed by Saudi Arabia’s Public Investment Fund (PIF), which owns a stake of about 58%.
The company announced in late 2023 that it was opening its first plant outside of the US, in Saudi Arabia.
Located in King Abdullah Economic City within the King Salman Automotive Cluster, AMP-2 has been focused on semi-knockdown (SKD) assembly of Lucid vehicles.
However, the company is now accelerating the transition from SKD assembly to full vehicle production.
Lucid recently listed several inventory units of the Gravity model on its US website, which sold out within 24 hours, leading the company to add more units.
The EV maker does not disclose monthly sales figures, with Motor Intelligence estimating that it sold 910 vehicles in September, from which 130 were Gravity SUVs.
The company quickly denied the figures, telling EV that “those numbers are inaccurate and not even in the ballpark.”
