Lucid Rolls Out First Pre-Production Gravity SUVs Ahead of Q4 Launch

Lucid Motors, a leading electric vehicle (EV) manufacturer, announced this week that it has successfully produced the first pre-production units of its new all-electric SUV, the Gravity. This milestone marks a significant step in the development and launch of the company’s highly anticipated luxury SUV. The Gravity is expected to combine Lucid’s signature advanced technology and performance capabilities with the versatility and spaciousness of an SUV. The company is gearing up for the official production and subsequent market release, signaling Lucid’s expansion into the SUV segment.

On LinkedIn, Lucid’s chief executive Peter Rawlinson shared a video showing him driving the first pre-production vehicle at the Arizona facility, with six Gravity vehicles seen rolling off the line behind him. This marks a significant milestone for the company as it expands its lineup and continues to innovate in the EV market.

“I feel so honored to have just driven the very first pre-production Lucid Gravity fresh off the production line at our Arizona factory,” Rawlinson wrote on LinkedIn.

“Accompanied in the vehicle with some of our hard working Arizona associates, with so many more gathered together to share this special moment in time, Lucid Gravity moves another step closer to customer’s hands. Not all EVs are born equal,” he added.

Scheduled to start production “in late 2024,” the three-row, 7-seater SUV, Gravity, will face competition from the R1S, another offering from California-based EV maker Rivian. In a recent interview with CarBuzz, Lucid’s CEO Peter Rawlinson revealed that he has already tested Rivian’s SUV and expressed confidence, stating he’s “not worried.” This statement underscores Lucid’s confidence in the Gravity’s capabilities and market positioning as it prepares to enter the growing luxury electric SUV segment.

Later on, Peter Rawlinson reiterated Lucid Motors’ ambition to become a volume manufacturer, aiming to reach one million units sold annually. In the second quarter of the year, the company delivered 2,394 vehicles and produced 2,110 units, indicating steady growth as it ramps up production capabilities.

Additionally, Lucid Motors recently announced that it has entered into a non-binding supply agreement with Graphite One for anode active materials (AAM). This partnership is part of Lucid’s strategy to secure a reliable supply of critical materials needed for its EV batteries, underscoring the company’s commitment to scaling production and ensuring the quality and performance of its vehicles.

Anode active materials (AAM) are essential components used in the anode of EV batteries. They play a crucial role in storing and releasing energy during battery charging and discharging cycles, which directly impacts the efficiency and performance of the batteries.

On August 5, Lucid Motors is scheduled to publish its second-quarter financial results. During this announcement, it is expected that the management will provide an update on the company’s annual production guidance, offering insights into their progress and future production plans as they continue to expand their product lineup and market presence.

Gravity, a Strong New Competitor to Tesla Model X

In Q4, the Lucid Gravity joins the Lucid Air in Lucid’s expanding lineup as a top-tier, premium electric SUV that aims to be a formidable contender in the market. However, it faces stiff competition from established rivals, such as the Tesla Model X.

The Tesla Model X has been a popular choice among electric SUVs, offering unique design features, impressive range, and a strong brand presence. While there may be debate over whether the Model X truly qualifies as an SUV, its blend of spaciousness, advanced technology, and distinctive features has made it a go-to option for many EV enthusiasts.

Lucid, however, has set a high standard for long-range electric vehicles since the launch of the Lucid Air, which boasts a range of over 500 miles on a single charge. This reputation for exceptional range could give the Gravity an edge in the luxury electric SUV market, as consumers increasingly prioritize range and efficiency alongside performance and luxury.

The Tesla Model X, while not drastically different from other vehicles in Tesla’s lineup, stands out on the road with its distinctive design. Its unique falcon-wing doors and minimalist interior set it apart from conventional SUVs.

In contrast, the Lucid Gravity, though perhaps less distinctive in its brand’s lineup, still presents a striking and modern appearance. The Gravity incorporates design elements from the Lucid Air, including a sleek, curved light bar at the front and a contemporary aesthetic. Its taller profile gives it the practicality and presence of an SUV while maintaining the elegance of Lucid’s design language. The rear of the Gravity features a long light bar and the Lucid logo extending across the back, enhancing its sleek, refined look. This combination of design cues ensures that the Gravity offers a stylish and attractive option in the luxury electric SUV market.

Both Tesla and Lucid have established themselves as leaders in producing long-range electric vehicles, and the Tesla Model X and Lucid Gravity continue this tradition.

The standard Tesla Model X offers a range of 348 miles, while the more performance-oriented Model X Plaid provides a slightly reduced range of 333 miles. These figures are impressive, and the Model X can charge at speeds of up to 250 kilowatts. According to Tesla, this charging rate can add approximately 200 miles of range in just 15 minutes, making it a convenient option for long-distance travel.

The Lucid Gravity takes things a step further, boasting a range of “over 440 miles.” This range figure is likely for the higher-end versions of the Gravity, but even the lower-end models are expected to surpass the range of the Model X, given Lucid’s strong emphasis on efficiency and long-range capabilities. Furthermore, the Gravity supports charging speeds of up to 350kW, making it one of the fastest charging EVs available. This high-speed charging capability allows for quicker recharges, significantly reducing downtime during long trips.

With its longer range and faster charging speed, the Lucid Gravity emerges as a clear winner in terms of these critical factors. For consumers prioritizing range and rapid charging, the Gravity presents a compelling choice in the luxury electric SUV market.

$1B Saudi Investment in April

In April 2024, Lucid Group, Inc. announced a significant financial maneuver, highlighting its strong relationship with its majority stockholder, Ayar Third Investment Company, an affiliate of Saudi Arabia’s Public Investment Fund. This pivotal move involved Ayar’s purchase of $1.0 billion in newly issued convertible preferred stock through a private placement.

Lucid plans to use the net proceeds from this transaction for general corporate purposes, supporting its ongoing operations and strategic initiatives. The company aims to produce 9,000 units in 2024, leveraging this infusion of capital to scale production and continue its expansion in the electric vehicle market.