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Lucid Says It Will Make 20,000 Electric Cars Next Year, Order Book Already at $1.3 Billion

Lucid Motors believes that it will produce 20,000 fully electric vehicles next year, with reservations for its debut model, the Air, having already surpassed 17,000. This puts their order book at more than $1.3 billion.
Lucid Air electric sedan 8 photos
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Even though the EV-maker is confident that it will hit its production goal in 2022, it does however acknowledge the risks brought on by ongoing disruptions to global supply chains, although steps are being taken to mitigate such issues, reports Autonews Europe.

Right now, the company looks good on paper, with shares up 4% in late trading. The stock meanwhile is up 85% since the listing went through on July 26. As of yesterday, the company held a market cap of roughly $73 billion, which is very impressive considering their rather modest revenue. Still, Lucid see themselves as a genuine competitor for the likes of Tesla, and of course companies such as Rivian too.

Besides, having Peter Rawlinson as CEO, formerly the chief engineer on the Tesla Model S, certainly can’t hurt their chances to compete in the big leagues.

Lucid started production of its first EV, the limited series Air ‘Dream Edition’, back in September, with first deliveries getting underway on October 31. The company’s short-term focus is to deliver 520 units of this high-spec version, which is priced at $169,000 and can travel up to 520 miles (837 km) on a single charge. Deliveries have also commenced for a lower-spec version of the Air EV, which costs $139,000.

As you’ve probably guessed, the reason why they’re delivering 520 units of the Air Dream Edition is because of that 520-mile EPA rating, achievable with the help of a 118-kWh battery pack.

Of course, as far as giving the Tesla Model S a proper run for its money, let’s just say that’s not going to happen straight away, especially since the latter has such a clear performance advantage thanks to the Plaid variant.


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