- Only a few budding EV startups are doing well with their promises to shake up the automotive industry.
- Lucid Motors, a startup in Newark, California, is one of them, experts and analysts say.
- Here’s Lucid’s game plan, led by CEO Peter Rawlinson, to realize its ambitions.
Lucid Motors is one of many companies trying to make a name for themselves in the testing world of electric vehicles.
Unlike many other budding players who are floundering under intense investment spending and manufacturing challenges, the startup in Newark, California, so far maintains its standing against people like Rivian. But CEO Peter Rawlinson has directed his sights a lot higher than that.
A lot is happening for Lucid right now: The company went public this year, pushed its first cars off the assembly line and hit a major milestone in the EPA series on its flagship vehicle.
Below you can read more about Lucid’s leadership, its performance against other industry competitors and its recent successes and
share. Yet start-up is not exempt from the challenges of a changing industry – you can read more about that too.
CEO Peter Rawlinson heads the company
Leading Lucid is Peter Rawlinson, a former Model S chief engineer under Elon Musk, Tesla’s CEO. He left Tesla after three years and felt frustrated and limited in his work there.
Rawlinson, 63, is a mechanical engineer. He joined Lucid as CTO in 2013 and rose to power as CEO in 2019. He is determined to lead in the same space that has seen the rise and fall of other EV startups, such as Nikola, Lordstown and Faraday Future.
Sources told Insider that Rawlinson’s primary motivation was beating Tesla and en-uping his old boss. He said he wanted to build the “best car in the world.”
Lucide insiders worry CEO Peter Rawlinson’s ‘vendetta’ against Elon Musk could undermine EV startup’s bid to become the next Tesla
Lucid CEO Peter Rawlinson Plans to Beat Elon Musk and Tesla to the Convincing $ 25,000 Electric Car
Lucid’s CEO explains how he tackles a challenge that bumped Tesla early on: getting big suppliers to take it seriously
Lucid’s CEO explains how his startup toppled Tesla in the EV series wars: ‘It has almost nothing to do with the battery’
Lucid Motors CEO says his debut electric sedan will cost over $ 100,000 and surpass Tesla and Porsche with a spacious, luxurious interior
Lucid as a challenger
Next to the Rivian, Lucid is widely regarded as Tesla’s most promising rival.
The company makes its debut with its flagship luxury sedan, the Air. First up is the $ 169,000 Dream Edition, which offers a range of 520 miles. The carmaker plans to release cheaper versions in the future, and it is also developing an SUV, the Gravity.
Sources told Insider that the air was everything the Tesla Model S was not: It has 115 miles more range, more acceleration and a different perception of a minimalist interior. As a result, many found the vehicle – and the company – an impressive challenger.
Lucid Air is targeting the Tesla Model S with a $ 69,900 base price and 406 miles estimated range – see more
The race to become the next Tesla is heating up. This is how Rivian, Lucid and the other top candidates plan to get to the top.
2 of Tesla’s most promising rivals are gaining momentum
Lucid is Tesla for the start-up of electric vehicles, and the stock is expected to rise almost 60%, says Bank of America
Lucid is the next Tesla or Ferrari and a legit EV start, says BofA
Lucid has made many headlines in recent months. It not only hit an EPA rating of 520 miles, but also started getting vehicles off the assembly line. The company said it planned to begin customer deliveries in October.
Investors and industry experts are generally bullish around the company, saying it is built to last and is a great place for budding entrepreneurs and engineers to start their careers.
EV start-up Lucid Motors’ flagship luxury vehicle just hit a 520-mile driving range on a single charge. Experts say it’s about 200 miles more than most drivers need.
EV startup Lucid’s first car can travel 520 miles on a full battery – beating Tesla by 115 miles
Lucid says the first electric car drove 445 miles from Los Angeles to San Francisco without charging, which easily improved Tesla’s range
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Earlier this year, Lucid followed in the footsteps of many other EV startups and went public through a reverse merger with a special purpose acquisition company. The deal with Churchill Capital IV brought in as much as $ 4.5 billion – the largest SPAC deal the industry has seen.
But where others fell hard after taking their businesses publicly via SPAC, Lucid has generally seen success.
Lucid Motors rises 20% in public debut as CEO says it is well positioned to compete with Tesla
Churchill Capital shareholders approved SPAC’s merger with Lucid Motors after CEO Michael Klein appealed directly to retail investors
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Lucid Motors is to announce a value of $ 24 billion. It probably could not have happened without billions in Saudi money.
Churchill Capital IV rises 33% after report says SPAC is approaching agreement to take EV maker Lucid Motors public
Industry and internal challenges
Although Lucid is a strong player in electric cars, many challenges — both specific and industry-wide — can stand in the way of its long-term success.
Supply-chain problems have wreaked havoc on major automakers across the globe. Lucid has struggled to build relationships with suppliers who do not necessarily want to place their efforts on a risky start-up. Getting the air out experienced a few delays, and quality control can prove crucial to any startup of electric vehicles trying to overtake Tesla. Building an all-star team, increasing brand-new manufacturing processes and delivering the most efficient EV in the world is no easy task.
2 of Tesla’s most promising rivals continue to be delayed
Rivian -rival Lucid’s CEO believes that the EV industry should be brutally shaken because startups lack an important ingredient
Rivian rival Lucid’s CEO says he delayed his $ 77,000 electricity by almost a year because he can not play on quality control: ‘We have a shot at this’
Lucid Motors CEO explains the important lesson his former boss Elon Musk taught him about leadership
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