Lucid Motors to launch in Europe
30 September 2021
California-based startup Lucid Motors is planning its Germany launch in 2022. The carmaker, known for its luxury electric sedans, will open its first Lucid Studio in central Munich in spring next year. The Tesla rival uses a direct-to-consumer model and confirmed to Autovista24 that its studios ‘are not dealerships but company-owned showrooms.’
This means the company’s sales strategy in Germany will not differ from its sales model in the US and Canada, where it operates a number of studios and service centres, selling vehicles directly to customers. The electrically-chargeable vehicle (EV) maker says that cutting out the ‘middlemen’ allows it to develop a tailored relationship with its customers. Branching out into Europe is a major milestone for Lucid as competition in the electric-vehicle market is expected to get fiercer in the coming years.
Longest EV range
Tesla, arguably the world’s most valuable automaker, still dominates the battery-electric vehicle (BEV) market although big brands, such as Audi and Mercedes, are also introducing new models to cut into Tesla’s dominance. Lucid Motors will pose a significant challenge as well. The Californian carmaker, founded in 2007, has just started production of the Lucid Air in Arizona, planning to deliver its luxury BEVs to customers in late October.
‘The proprietary EV technology that Lucid has developed will make it possible to travel more miles using less battery energy,’ said CEO and CTO of Lucid Group Peter Rawlinson, who used to be the chief engineer of Tesla’s Model S.
‘Our technology will allow for increasingly lighter, more efficient, and less expensive EVs, and today represents a major step in our journey to expand the accessibility of more sustainable transportation,’ Rawlinson added.
The company revealed that its Lucid Air Dream Edition has the longest range of any electric car rated by the Environmental Protection Agency (EPA). Not even the Model S can beat Lucid’s 520-mile range on a single charge as the Air gets another 100 miles. The price range between the two carmakers also differs. A version of the Lucid Air Dream Edition is priced at $169,000 (€145,000), while the Model S is priced at €96,990.
The luxury EV maker hit the headlines earlier this year when it debuted on the US Nasdaq stock exchange through a merger with Churchill Capital IV Corp. Lucid now has a staggering market capitalisation of $39.26 billion. Competitor Polestar, a Volvo spin-off, will soon join the likes of Lucid Motors and Tesla by going public with the potential for a $20 billion valuation.
Still, Lucid likes to set itself apart from other EV makers, branding itself as a truly sustainable mobility company. The startup’s vision is to expand electromobility beyond cars. The BEV builder’s arrival in Germany next year will no doubt be watched with eager interest. More details on Lucid’s European rollout will follow later this year, with the business planning a viewing event in Munich in December. Until then, the company is gearing up activities and wants to ramp up production ahead of its much-anticipated European launch.