Lucid Group (LICD) issued several announcements during its Investor Day event on Thursday,
The electric vehicle maker highlighted that its upcoming mid-size platform will underpin three new electric vehicles aimed at the core of the electric vehicle market, with a starting price around $50K to compete directly with Tesla’s (TSLA) Model 3 and Model Y and other mass-market EV offerings.
The first model will be a mid-size crossover SUV, followed by a more rugged variant inspired by the Gravity X concept and a likely mid-size sedan, all designed to deliver Lucid’s (LCID) signature range, efficiency, and interior space. The new models will be introduced at lower cost points than the current Air and Gravity lines.
Production of these mid-size vehicles is expected to begin in Saudi Arabia in late 2026 or 2027, with full capacity targeted by 2029, reflecting Lucid’s (LCID) plan to scale globally while using a shared platform to simplify manufacturing and improve margins.
It was noted that at the heart of the mid-size platform is Atlas, Lucid’s all new electric drive unit. Atlas advances Lucid’s integrated efficiency approach through a smaller, lighter, and simpler design, featuring identical front and rear housings and mounts to improve manufacturing scale and cost efficiency.
During the company’s presentation, Lucid (LCID) management said it sees a path to being cash flow positive by the late decade. It was also noted that recent sales data has indicated that the Lucid Gravity is seeing momentum. The biggest takeaway is that Lucid (LCID) expects its midsize platform and entry into the robotaxi market to significantly expand its total addressable market. The company plans to work with “leading partners” on its robotaxi business.
It was noted that at the heart of the midsize platform is Atlas, Lucid’s (LCID) all new electric drive unit. Atlas is seen advancing Lucid’s (LCID) integrated efficiency approach through a smaller, lighter, and simpler design, featuring identical front and rear housings and mounts to improve manufacturing scale and cost efficiency.
Shares of Lucid (LCID) were down 6.0% in late morning trading as investors eyed the timeline for the company to achieve its targets.