Lucid said it would make a popular mid-size electric SUV that would cost “around $48,000.” Lucid’s CEO, Peter Rawlinson, took the lead in unveiling the details of the new, yet-to-be-named model during the company’s first-quarter earnings call earlier this week. Lucid has set a clear timeline for the production of its new mid-size platform. The AMP-2 plant in Saudi Arabia is scheduled to start manufacturing by the end of 2026. From one to three electric cars, Lucid will be able to offer three times as many in the coming years. Later this year, the new Gravity SUV will be for sale, but for now, only the Lucid Air hatchback is out there. Peter Rawlinson, the CEO of Lucid, said that in the next few years, a third type will be made that will start at less than $50,000. This week, Rawlinson said on the company’s first-quarter results call that Lucid will release a new mid-size electric SUV. He also said that a lot of these models would be made, and the first one would cost “around $48,000.” The second Lucid Advanced Manufacturing Plant (AMP-2), which is in Saudi Arabia, will start making the new mid-size platform in late 2026. Rawlinson was optimistic during the call that the important mid-size car would reach unprecedented levels of economy. Efficiency is the key to a smaller battery for any given range, and a smaller battery is also very important when it comes to the cost of making an EV. No other details were given about the next Lucid, which has yet to be given a name. With a starting price of $50,000, it will cost about $20,000 less than the cheapest Air model on the market right now. Of course, the expected price doesn’t take inflation into account. By that time, Lucid could use economies of scale to lower the price of the car even more. The price of the Gravity hasn’t been announced yet, but it should start at around $80,000.
