Tesla currently dominates the electric vehicle market, but its rivals have not given up.
In the race for electric vehicles, Tesla (TSLA) – Get Tesla Inc Report has a considerable lead over its rivals. To fill this gap – which is far from being insurmountable – the legacy carmakers rely in particular on their tact and their experience in mass production and production rate management.
Young and new car manufacturers play on quality, design and technological innovation. These assets allow them to assemble forces capable of challenging the dominance of Elon Musk’s group.
While waiting to produce and sell as many vehicles as the owner of the Model S sedan and the Model X luxury SUV, rivals are already vying for the awards. This is the case of Lucid Group (LCID) – Get Lucid Group, Inc. Report, which counts among its shareholders Saudi Arabia’s sovereign wealth fund (PIF, Public Investment Fund.)
The young Californian manufacturer has just snatched from Tesla a prize which crowns the luxury electric vehicle of the year for 2022. The specialized website Cars.com has just dedicated the Lucid Air Dream sedan as the must-have luxury electric car.
“If you’re searching for a luxury EV, look no further than our Top Pick: the 2022 @LucidMotors Air Dream,” Cars.com praised on its official Twitter account. “It offers stunning speed with a 520-mile range, plenty of cargo space, a responsive multimedia system and interior styling that challenges luxury-brand benchmarks.”
‘Easier to Use than Tesla’
Take that Tesla Model S Plaid and Tesla Model X Plaid.
Price, range, comfort and features of 30-plus EV models on sale in the first quarter of 2022 are the criteria examined by the experts at Cars.com to determine the winner.
Lucid Motors
“The first offering from upstart Lucid, the 2022 Air, is simply a next-level EV and a game changer for the market,” Cars.com explained. “With a base price of $170,000, the currently sold-out Air Dream Edition offers a stunning amount of cargo space, a multimedia system that’s more responsive and easier to use than Tesla’s, styling that’s incredibly slippery and still dead sexy, and an interior that rivals luxury-brand benchmarks for opulence and finish.”
“The Air also handles as well as some of the world’s most high-powered sports sedans and provides mind-melting acceleration while managing to deliver a quiet, comfortable ride.”
Sorry, Sold Out
This limited production model is completely sold out. If you wish, you must register on a waiting list.
“This exclusive design is fully booked, but you can still get on the waitlist when you reserve an Air Grand Touring. Just opt in while reserving, and if a spot becomes available, a member of our sales team will reach out,” the company said on its website.
However, “if you’re already an Air reservation-holder, you can join the waitlist by signing into your Lucid account and selecting ‘Upgrade’.”
Besides the Lucid Air Dream, Lucid also produces other variants of the Air. These include the Air Pure, the entry-level configuration sold at a base price of $77,400, the Air Touring ($95,000) and the Air Grand Touring ($139,000).
However, the company encounters difficulties in managing increases in production rates. The company said in February it expects to produce only between 12,000 and 14,000 cars for 2022, a drop of 30% to 40% less than its initial forecast of 20,000 units.
“This reflects the extraordinary supply chain and logistics challenges we’ve encountered and our unrelenting focus on delivering the highest-quality products,” justified Peter Rawlinson, Lucid’s CEO and chief technology officer.
The group, however, tried to allay the fears of investors and consumers by announcing an agreement with Saudi Arabia to build its first international factory there. This will be its second plant overall. The group currently only has one production site based in Case Grande, Ariz.
Construction of the new plant is expected to start by June.
Lucid hopes its new partnership in Saudi Arabia will provide competitive-priced commodities and energy and a newly emerging domestic supply chain, and a factory location that facilitates global logistics.
Besides the 2022 luxury electric car, Cars.com has also awarded other awards.
Hyundai (HYMLF) Ioniq 5 won EV pick for families, while Volkswagen (VWAGY) – Get Volkswagen AG Report ID.4 went home with the prize for the cheapest EV (starting $41,955). GM (GM) – Get General Motors Company Report Chevy Bolt was crowned “Top Pick for EV commuters.”
