Lucid Motors CEO wants signature electric vehicle ‘in the $70k price point’
- Date: 28-Oct-2021
- Source: Arab News
- Sector:Economy
- Country:Saudi Arabia
Lucid Motors CEO wants signature electric vehicle ‘in the $70k price point’
Saudi-backed Lucid Motors is aiming to offer a âpure versionâ of its Air model at around $70,000, the CEO of the electric vehicle company has said. During a presentation at the Future Investment Initiative Forum in Riyadh, Peter Rawlinson set out the ambitions for his company, which the Kingdomâs Public Investment Fund poured $1 billion into in April 2019 - giving it a 67 per cent stake in the firm. Rawlinson talked up the efficiency of his companyâs vehicles, as he flagged up the USâs EPA ratings standard placing six Lucid vehicles as having the largest range for electric motors. Turning to costs to customers, he said: âRight now the Dream edition car is $169,000. My dream is to get to a pure version of Lucid Air in the $70,000 price point.â Rawlinson used much of his speech to delegates to focus on the efficiency battle between his company and rival firm Tesla. âThe future will be defined by a tech race between the companies that adopt and embrace EV technology and thatâs why I would believe Teslaâs value today of over $1 trillion is based on its technological prowess,â he said. He went on to say that other manufacturers