The range of Lucid vehicles is greater than that of Tesla
Delivery starts in October - the factory's capacity will increase.

The US startup Lucid Group Inc. announced on Tuesday that it will start delivering luxury electric sedans with a range that exceeds that of Tesla at the end of October, making it a major challenge for the market leader, selling premium models stagnates.
California-based Lucid began production of its long-delayed Lucid Air cars at its Arizona factory Tuesday, saying it plans to increase the factory's capacity to 90,000 vehicles a year over the next two years.
The top model Lucid Air Dream Edition will be available from the end of October, followed by the cheaper models: Grand Touring, Touring and Air Pure. According to the company, it has received more than 13,000 reservations for Lucid Air models and has increased the planned total production of the Lucid Air Dream Edition to 520 vehicles.
A $ 169,000 version of the Lucid Air Dream Edition has received an official U.S. government rating of 520 miles (837 km), over 100 miles more than its closest competitor, Tesla's Model S ( NASDAQ: TSLA), which is priced at $ 89,990. The increased reach has helped Lucid stock rise 23% this month.
Peter Rawlinson, Lucid's chief executive officer and former chief engineer of the Tesla Model S, said in his speech at the production site that his company's vehicles have an advantage over the Model S in terms of battery technology and cost.
"We have taken away the customers' fear of range fear," he said. "The next big obstacle is the cost efficiency of electric cars. We have to bring the costs down."
He said the Air Pure, the cheapest version priced at $ 77,400, will go into production late next year.
CHALLENGE IN EXECUTION
Founded in 2007, the company received funding from the Saudi Arabia Public Investment Fund in 2018 before going public in July through a shell company.
"(20) 17 and (20) 18 were brutal. The company was in a desolate state. And then I have to say that we have found a perfect partner," he said.
Rawlinson, who left Tesla in 2012, faces similar tasks to Tesla in its early days, including tackling manufacturing challenges and increasing production.
"I think the big challenge for Lucid will be getting it done," said Sam Abuelsamid, a lead analyst at Guidehouse Insights. "I think they have a very good car. It's very attractive."
Tesla CEO Elon Musk said in June that Tesla had abandoned its plan to launch a Model S Plaid + with a target range of 520 miles on the grounds that the Model S Plaid itself was "just that good."
Musk reiterated this month that production is difficult ".
"A production with positive cash flow is extremely difficult," he said, referring to the extremely thin margins of the automakers.
Tesla's combined sales of the Model S and Model X luxury models were just 1,890 in the second quarter of this year, up from 22,300 in the same period three years ago. Tesla does not show the numbers for the two high-end models separately.
"The Model S doesn't look fundamentally different from a Model S nine years ago," said Abuelsamid. "In the premium market, customers are looking for the latest and greatest."
Musk lowered the price of its Model S in October 2020 shortly after Lucid announced prices for its base model. "The gauntlet has been thrown! The prophecy will come true," he tweeted at the time.
Electric vehicle maker Rivian, backed by Amazon.com Inc. (NASDAQ: AMZN) and preparing to go public, began producing electric pickup trucks earlier this month. This move came before the expected similar moves by Tesla, General Motors Co (NYSE: GM), and Ford Motor (NYSE: F) Co.





