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Lucid Confirms Air Pricing Ahead of EV Unveiling

Benzinga EV Insights

After teasing a range of over 500 miles and a record-setting quarter-mile time, Lucid Motors is finally set to fully unveil their Air all-electric sedan later Wednesday.

In an interview with Bloomberg, Lucid CEO Peter Rawlinson has finally given pricing details on the new car.

The fully equipped, limited Dream Edition will cost $161,500. The Grand Touring will cost around $130,000. And the lowest-cost option will be $72,500.

All of these prices are calculated after the $7,500 federal tax credit for EVs. 

Benzinga's Take: While the Air looks like an impressive EV overall, these prices deflate the excitement a bit. A top-of-the-line performance Tesla Inc (NASDAQ: TSLA) Model S can be had for $94,000.

And while the top-tier Air seems to have better specs overall, the lower-price versions of the Air will have a hard time competing with the similarly priced Model S.

On top of that, Tesla is set to present new information during their battery and investor day Sept. 22, at which time it could reveal new details on the company's updated Plaid-powered Model S and X vehicles. 

Photo courtesy of Lucid Motors.

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