California-based EV startup Lucid Motors (NASDAQ:LCID) will start taking orders from customers in the U.S. for its Gravity SUV starting Nov. 7, the company said on Tuesday.
What Happened: Orders will initially be taken for the Grand Touring trim of the SUV starting from $94,900 which is expected to start production in late 2024.
Production of the lower-priced Touring trim of the vehicle, starting at $79,900, will start only in late 2025, the company said.
Existing Lucid owners will be given priority when taking delivery of the Gravity SUV, the company said.
The Gravity is expected to rival Tesla Inc.'s Model X SUV which starts at $79,990 for the base version and at $94,990 for the more premium Plaid version. The corresponding Gravity variants are priced at just $90 lower.
| Variant | Tesla Model X | Variant | Lucid Gravity |
| All-Wheel Drive | $74,990 | Touring | $79,900 |
| Plaid | $94,990 | Grand Touring | $94,900 |
During Lucid's first-quarter earnings call in May, the CEO said that Gravity has a "significant opportunity" that the Model X did not capture. While the Model X is a bit car-like, the Gravity is a proper three-row SUV and is on track to become the "world's best SUV," he said.
Why It Matters: Currently, Lucid's Air sedan, with a starting price of $69,900, is its only vehicle in production. The vehicle is aimed at a more premium customer base with its Grand Touring and Sapphire versions starting at $110,900 and $249,000, respectively.
After Gravity, the company also intends to start production of a high volume, midsize vehicle in late 2026, which is expected to start at around $48,000, as a direct competitor to Tesla's mass-market offerings Model 3 and Model Y.
The Gravity SUV was unveiled in November 2023. In August, Lucid CEO Peter Rawlinson refused to give a date for opening reservations of its upcoming Gravity SUV, while also criticizing rival auto companies for 'prematurely' opening a reservation list.
"What we feel is that some companies have really done their customer base a disservice by prematurely opening a reservation list. It becomes very speculative and almost meaningless to a certain degree," Rawlinson said during the company's second-quarter earnings call, adding that the company will start taking orders when it is in a position to do so.
Check out more of Benzinga's Future Of Mobility coverage by following this link.
- US Auto Sales To Pick Up Pace In October With EVs Crossing 9% Market Share, Says S&P Global Mobility
Photo courtesy: Lucid
