But unlike many of its SPAC peers, Lucid is actually generating revenue and producing vehicles. Unveiled in December 2016, it is designed to compete with existing brands in the electric vehicle (EV) industry, in particular the Tesla Model S, the Karma Revero, the Porsche Taycan, as well as other brands in the luxury car segment, including Mercedes-Benz, BMW and Audi. Lucid is among a handful of EV start-up companies to go public through deals with SPAC companies since last year. The Lucid Air is an electric car produced and sold by Lucid Motors. Pricing for an entry-level version of the car, the Lucid Air sedan, starts at $77,400 before an up to $7,500 federal tax credit for plug-in vehicles. The Dream Edition is a $169,000 special edition of its flagship sedan, with an industry-leading range of up to 520 miles, according to the EPA. Lucid told investors in July that it expects to produce 20,000 Lucid Air sedans in 2022, generating more than $2.2 billion in revenue, according to an investor presentation. 2021 Lucid Air Lucid Motors Lucid Air EV Starts at 77,400, Can Lucid Air electric sedan: Debut Heres When Lucid Motors Will Launch The 80,000 Lucid Air. In total, Lucid has said it plans to deliver 520 customer-configured Lucid Air Dream Editions, followed by production of lower-priced models. It marks the first time that the initial product from a new automotive company has received the award, according to the publication. With Lucid being a startup with no previous experience in the automotive industry, many were wondering what type of warranty coverage they would include for the Lucid Air. The all-electric Air sedan on Monday was named MotorTrend's car of the year, a coveted award in the automotive industry. As Lucid gets closer to a release date for its first electric vehicle (EV), the Lucid Air, the company has announced the EVs warranty and service model. Rawlinson echoed those remarks: "I think what is happening in our stock value reflects our status as a tech company more than a car company." "The run up that we've had, where it is today and also the growth trajectory, frankly, that's in front of us. I see that we're being regarded as a technology company with a platform that's extensible across lots of vehicle variants and sustainable tech." "I feel great about our stock price," House told CNBC during a phone interview. The largest daily increase of 31% occurred late last month when the company confirmed customer deliveries of the Lucid Air Dream Edition were beginning. New Lucid Air price and release date The Lucid Air starts from 77,400 in the USA, or around 62,000 for the Pure model, climbing to 169,000 (135,000) for the range-topping Dream Edition Performance.
Shares of Lucid are up by more than 80% since the company went public through a reverse merger with Churchill in July. All Lucid Air models come with fast charging capability as standard, meaning you can add 300 miles of range to its batteries in just 20 minutes.
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