Lucid Air Pure Gets a Huge Price Cut to Boost Sales

Lucid Motors, the electric vehicle startup backed by Saudi Arabia, has slashed the price of its entry-level sedan, the Lucid Air Pure, by more than $8,000. The move comes after a disappointing year of sales for the company, which faced production delays, regulatory hurdles, and fierce competition from Tesla and other rivals.

Lucid Air Pure Now Starts at $69,900

The Lucid Air Pure, the rear-wheel drive version of the base model of the Lucid Air sedan, will now start at $69,900, down from the previous price of $77,400. The price cut was announced on February 15, and applies to both existing and new reservations. Customers who have already placed an order for the Lucid Air Pure will receive a refund of the difference, or they can choose to upgrade to a higher trim level.

Lucid Air Pure
Lucid Air

The Lucid Air Pure is the most affordable variant of the Lucid Air, which also includes the Touring, the Grand Touring, and the Dream Edition. The Lucid Air Pure offers a range of 406 miles, a power output of 480 horsepower, and a top speed of 155 mph. It also features a 34-inch curved glass cockpit, a 19-speaker sound system, and a suite of advanced driver assistance systems.

The price cut makes the Lucid Air Pure more competitive with the Tesla Model S, which starts at $79,990 for the Long Range version, and offers a range of 412 miles, a power output of 670 horsepower, and a top speed of 155 mph. The Tesla Model S also features a 17-inch touchscreen, a 22-speaker sound system, and a full self-driving capability.

Lucid Motors Struggles to Meet Sales Targets

The price cut is part of Lucid Motors’ strategy to boost its sales and market share, after a disappointing year of deliveries in 2023. The company reported that it delivered only 6,001 vehicles in 2023, far below its initial target of 20,000 vehicles. The company blamed the low sales on production delays, supply chain disruptions, and regulatory challenges.

Lucid Motors started production of the Lucid Air in late 2020, after receiving a $1 billion investment from the Public Investment Fund of Saudi Arabia, which owns a 67% stake in the company. The company initially planned to deliver the first batch of vehicles in the spring of 2021, but had to postpone the launch several times due to the COVID-19 pandemic, the global chip shortage, and the certification process by the Environmental Protection Agency (EPA).

The company finally delivered the first Lucid Air vehicles to customers in October 2021, starting with the Dream Edition, which costs $169,000 and offers a range of 503 miles, a power output of 1,080 horsepower, and a top speed of 168 mph. The company then delivered the Grand Touring and the Touring models, which cost $110,900 and $85,900 respectively, and offer a range of 517 miles and 406 miles, a power output of 800 horsepower and 620 horsepower, and a top speed of 168 mph and 155 mph respectively.

The company has not yet delivered the Lucid Air Pure, which was supposed to be available in early 2022, but has been pushed back to the second half of 2022. The company has also not yet delivered any vehicles to Saudi Arabia, which has agreed to buy up to 100,000 vehicles from Lucid Motors over the next 10 years, as part of its Vision 2030 plan to diversify its economy and reduce its dependence on oil.

Lucid Motors Aims to Recover in 2024

Lucid Motors hopes that the price cut and the additional benefits will attract more customers to the Lucid Air Pure, and help the company recover from its sales slump. The company is also working on expanding its production capacity, improving its customer service, and launching new models and markets.

The company is building a second factory in Saudi Arabia, which is expected to be operational by 2024, and will produce up to 50,000 vehicles per year for the Middle East and Africa markets. The company is also planning to build a third factory in Europe, which will serve the European market.

The company is also developing a new electric SUV, called the Lucid Gravity, which will compete with the Tesla Model X, the Rivian R1S, and the Ford Mustang Mach-E. The Lucid Gravity is expected to debut in late 2022, and will offer a range of over 400 miles, a power output of over 1,000 horsepower, and a spacious and luxurious interior.

The company is also exploring other applications of its electric vehicle technology, such as battery storage, aviation, and mobility services. The company has partnered with Formula E, the electric racing series, to provide batteries for the race cars. The company has also partnered with ZeroAvia, a startup that is developing hydrogen-powered electric aircraft, to provide batteries for the planes. The company has also partnered with Uber, the ride-hailing giant, to offer Lucid Air vehicles as part of its premium service.

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