All You Need to Know About Lucid Motors

Tesla has dominated the electric car space for the last couple of years, with the rest of the car markers lagging when it comes to EV technology. In recent years, companies like BMW and Porsche made have electric cars that one can comfortably compare with the Tesla models in terms of technology. One of the new companies in the EV industry that is making news lately is Lucid Motors. 

It might be a new name to many, especially those that haven’t been closely following news in this industry. If you would like to know more about this company and how it intends to challenge Elon Musk’s Tesla, this article is for you. Today I’ll share everything you need to know about Lucid Motors and how they are building a name in the EV industry. 

Lucid Motors is an American electric car company with its headquarters in Newark, California. This company launched in 2008 under the name Atieva, and its specialty then was making electric car batteries. And what’s crazy about it is that Tesla’s ex-chief engineer, Peter Rawlinson, is behind it all. 

Until 2016, they rebranded to Lucid Motors that they officially announced plans to start producing electric cars. The company also unveiled the prototype of their first car – the Lucid Air, in 2020. Currently, under production, the Lucid Air is the first car from Lucid Motors and is expected to be ready spring of this year. The detailed features of this car were first announced in September 2020. 

Some of its most exciting features include; a high-capacity battery with a range of up to 517 miles on a single charge and 20 miles per minute of charging when connected to a DC fast-charging network. This car also has a duo-motor with up 1080hp and can achieve a quarter a mile in just 9.9 seconds. 

The groundbreaking features of Lucid Air are what led to the talks of how Lucid Motors will be a threat to Tesla. Lucid Motors was initially a company that made batteries. It is no surprise that their first car came with a battery that can go up to 517 miles on a single charge. 

The fast-charging capabilities of the Lucid Air is another area where it is slightly better than the Tesla. However, Tesla’s supercharging network has a way comprehensive coverage, and it will take Lucid Motors some years to catch on to this. This kind of investment will require many resources, so it won’t be easy to pull off. 

However, when Lucid Motors goes public like it has been rumored in the recent days, this company will have more resources to invest in R&D. There are a lot of investors willing to take a gamble on promising EV companies like Lucid Motors, so their stocks will likely shoot up when the company finally goes public. 

The company initially got a $1.3 billion investment from Saudi Arabia in 2018, which helped them overcome the financial struggles they were going through at the time. Although it has not been confirmed yet, there have also been more intense rumors speculating a potential merger with Churchill Capital Corp IV (CCIV), which will likely happen very soon.