Lucid Unveils Revolutionary Gravity SUV and Analyzes Cost Effectiveness of Enabling Technologies

CASA GRANDE, AZ - Lucid Group, Inc., the renowned manufacturer of cutting-edge electric vehicles, took center stage at its Technology & Manufacturing Day in Arizona. The event showcased the highly anticipated Lucid Gravity SUV, along with its groundbreaking enabling technologies. In addition, an independent third-party analysis provided insights into the cost effectiveness of manufacturing these groundbreaking innovations. Lucid also announced a remarkable milestone, as it has already delivered more vehicles in 2024 than in the entire previous year.

Peter Rawlinson, CEO and CTO of Lucid, expressed his excitement about the event, stating, "Today demonstrates how the Lucid Gravity is set to be the best SUV ever, showcasing its revolutionary package and attributes only made possible with the technologies Lucid has pioneered." Rawlinson highlighted the company's drive unit as a key enabling technology, boasting next-level performance and a lower cost compared to competitors. Lucid vehicles boast exceptional efficiency, allowing them to cover more distance with fewer batteries, resulting in significant cost and mass savings as production scales up.

During the event, Lucid also introduced its upcoming drive unit, Atlas, which is currently in development and undergoing extensive testing. This next-generation drive unit is set to offer enhanced value for both Lucid and its customers. Already ahead of its competitors in terms of power density and cost per horsepower, Lucid's current electric drive unit is space-saving, optimized for interior cabin space, and offers superior energy efficiency. The advanced drive units are complemented by a proprietary software stack that enables features such as torque vectoring, traction control, and battery management.

In addition to the impressive technological advancements, Lucid announced that the Lucid Gravity SUV will be equipped with a NACS charging connector in 2025, providing access to over 15,000 Superchargers. This integration will offer Lucid owners convenient and extensive charging options.

The Lucid Gravity SUV, incorporating the latest innovations and learnings from the Lucid Air, is set to be the world's most advanced electric SUV. Powered by Lucid's ultra-compact powertrain technology, the Gravity SUV promises exhilarating performance paired with a spacious, sophisticated interior capable of accommodating up to seven adults and their belongings.

Furthermore, attendees got a glimpse of one of Lucid's upcoming midsize vehicles. Leveraging the efficiency and cost advantages enabled by Lucid technology, this new crossover will offer comparable range to its competitors while utilizing a smaller battery. Scheduled to start production in late 2026 with an enticing starting price under $50,000, this midsize platform vehicle is set to attract a wide range of customers.

Lucid, a Silicon Valley-based technology company committed to sustainable transportation and energy, is focused on creating the most advanced electric vehicles in the world. With the Lucid Air as its flagship model and the upcoming Lucid Gravity SUV on the horizon, Lucid aims to accelerate the transition to sustainable transportation. Lucid's state-of-the-art Arizona factory, which is preparing for production, is a testament to the company's dedication to innovation and progress.

As Lucid continues to make waves in the electric vehicle industry, investors eagerly await the company's net income and cash flow results, which will be disclosed in the upcoming third quarter earnings announcement. Lucid acknowledges that vehicle delivery numbers alone do not provide a comprehensive view of the company's financial performance.

Lucid's commitment to advancements in electric vehicle technology is evident in their continuous innovation and expansion of capabilities. With the Lucid Gravity SUV and other upcoming models, Lucid is poised to make a lasting impact in the world of sustainable transportation.