- EV startup Lucid wants to make cars for the mass market, but has a ways to go.
- The Dream Edition of its flagship luxury sedan, the Air, starts at $169,000.
- CEO Peter Rawlinson says that’s just for now — and that he’ll soon crack the $25,000 range.
One of the biggest barriers to mass adoption of electric vehicles is cost. EVs might not reach cost parity with gas-powered cars until 2025, McKinsey estimated. So companies like Tesla and nascent industry players like Lucid Motors are racing to make their cars more affordable for the mass market.
Lucid has a ways to go. The Dream Edition of its flagship luxury sedan, the Air, starts at $169,000. But it’s a necessary step in the startup’s goal to build a more affordable EV, CEO Peter Rawlinson said. Unlike legacy automakers working to boost the range of their EVs, Lucid plans to do the opposite: Go from the longest-range vehicle in the world to one with the smallest (and most affordable) battery.
“Lexus did it. Tesla did it,” Rawlinson told Insider this summer. “Great brands have started with a high-end product and gradually made that more accessible.”