Electric vehicle startup Lucid Group is preparing to launch its second vehicle, the Gravity SUV, in an effort to increase sales and reduce the company’s losses. The CEO, Peter Rawlinson, is optimistic about the potential demand for the SUV and expects it to be six times more popular than their first vehicle, the Air sedan. The Gravity Grand Touring model will be available for ordering starting at $94,900, with other models to follow in the future.
Despite struggling with market awareness and meeting expectations, Lucid delivered 7,142 Air sedans to customers in the third quarter of this year. The company is supported by Saudi Arabia’s Public Investment Fund and is working on increasing production at its Arizona plant to meet demand for the new SUV. The Gravity is expected to enter serial production by the end of the year, pending final testing and certifications.
Although Lucid’s stock has faced challenges this year due to slower-than-expected EV demand, the company remains hopeful about the potential success of their new SUV. The Gravity Grand Touring model boasts over 800 horsepower and an estimated electric range of more than 440 miles. Lucid will report its third-quarter results on November 7, the same day customer ordering for the Gravity SUV opens.
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