Tesla competitor, California electric car start up Lucid Motors revealed their top secret project today, the Air. The company describes their new vehicle will offer a luxury interior and sport-oriented driving, with production beginning in 2018. Lucid Motors cited four areas of focus of design with the development of the luxury sedan: electrification,autonomous driving, connectivity and ride sharing. With a price tag of over $100,000 at launch, the Air boasts a battery capable of producing 1000 horsepower with a range of 400 miles (643 km). The two motor car will be able to accelerate from zero to 60 mph in 2.5 seconds. Some of the options will include autonomous features, including six radar modules, eight cameras, radars and four Lidar sensors. However fully autonomous self-driving capability will be dependent on the legal landscape.
Deposits for the Lucid Air are being taken now, $2500 for an edition that will be priced starting at around $100,000. However there is also a more luxurious option, for a deposit of $25,500 and a final price reaching $160,000, the Launch Edition will feature independent dual rear seats almost fully recline in the manner of a first-class airplane. The Launch Edition will be a major attraction for a chauffeur-driven Asian market. Production will begin in its new $700 million Arizona factory in 2018. The company plans to have employ over 2000 full time employees at the facility by 2022. The batteries 130 kWh will be supplied by Samsung SDI. Lucid has an initial production target of 10,000 vehicles eventually ramping up to 60,000 units within a few years.
Founded in 2007 under the name Atieva, Lucid has raised over $131 million with participation from China Environmental fund, Japanese investment firm Jafco Life Science and Silicon Valley VC Venrock. In comparison the biggest player in the electric car market, public company Tesla Motors has a net worth of $32 billion. Buyers beware, Tesla recently had to settle a lawsuit in Norway because their P85D Sedan advertised a combined horse power of 691 but in reality only the rear motor was able to achieve 470 horsepower while the front motor was 221 horsepower. While technically they do produce a combined horsepower of 691, real world driving was drastically different.