Written by Cláudio Afonso | [email protected] | LinkedIn | X
In an interview at the Financial Times Car Summit on Wednesday, Lucid CEO and CTO Peter Rawlinson said the company will not focus on developing an affordable model but on energy density technology instead.
“I don’t aspire for us to do the $25,000 car, but if you could get a 6mpkWh car because you’ve got Lucid technology and if you’ve got a fast charging network that you know is reliable, why do you need more than 150 miles range? You’d only need a 25kWh battery bank,” Rawlinson said.
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Commenting the development of the Lithium Iron Phosphate (LFP) technology, Lucid CEO predicts that the prices are continue to decrease over the next years.
“And the way that particularly LFP [battery tech] is going, that pack [could cost] under $3,000, maybe closer to $2,000 in a few years’ time. That is the enabler for the $20,000 car for the mass market,” he added.
Later in the interview, the chief executive said manufacturers from China are “many years behind Tesla” despite admitting “they’re a lot better than they’ve been”.
Lucid CEO admitted that Chinese OEMs have been improving a lot over the last years while expecting a second wave of improvement as the focus shifts to powertrain technology.
On Wednesday, the EV maker announced the opening of two new service centers in Europe adding that it is preparing to open three new showrooms in Germany.
“Lucid continues to expand in Europe by officially opening new state-of-the-art service centers in Munich and Zurich to better support our growing owners community. The expansion plan will continue with studio openings in Hamburg, Frankfurt and Stuttgart,” the company stated.
During the first quarter, the electric vehicle manufacturer Lucid delivered 1,967 vehicles, a nearly 40 percent growth compared to the first three months of last year. In the conference call that followed the earnings release, the CEO Peter Rawlinson disclosed that over 500 of them were delivered to Saudi Arabia.
Lucid has reiterated its annual production guidance of 9,000 vehicles for 2024 despite warning investors that its cash reserves, cash equivalents, and investments are projected to last until the second quarter of next year.
The CEO Peter Rawlinson announced that the company’s midsize model will enter production in late 2026, with a price expected to be around $48,000.
Written by Cláudio Afonso | [email protected] | LinkedIn | X
