Tesla may have a new competitor nipping at its heels. Electric car startup company Lucid has announced a starting price tag of $60,000 for its new Air sedan, which the company revealed back in December. The price tag is surprisingly low, undercutting the $71,000 Tesla Model S.
Common sense would suggest there’s some sort of “gotcha” from Lucid with the Air’s low price. However, if there is one, we haven’t found it yet. The $60,000 base price will yield buyers a midsize sedan that has about 240 miles of electric range (more than a base Model S) and 400 horsepower. Note that the base price will actually be $52,500 after a $7,500 federal tax credit.
Perhaps it is a stripped car? Nope, actually the Lucid Air will come standard with luxuries such as four touchscreen displays, 12-way power seats, an aluminum roof and a 10-speaker audio system. Clearly buyers of the base car are getting more than just, well, air.
Buyers will also have other options that will unquestionably drive the price tag into six-figure territory, just like the Model S. Lucid says it will offer 100 kWh and 130 kWh battery packs in the car that will propel the rear-wheel-drive Air for 315 and 400 miles, respectively. The company will also offer a 1,000 horsepower model, which will be the version the company launches with when the car goes into production.
Interested buyers have been able to place a deposit on the Lucid Air since December. The company has not stated how many customers have actually put money down versus simply raising their hand.
Lucid has said up to this point the car will go into production sometime in 2018. That said, the company just secured its $700 million Arizona assembly plant back in November of 2016, so a 2018 timeline to go from nothing to full car assembly feels…aggressive.
If the Lucid Air does pan out, it seems as though Tesla may have a viable competitor with this startup. But the Air has to be more than just hot air for that competitive force to pan out.