Cash-losing electrical automotive startup Lucid is about to disclose an SUV

Electrical car (EV) startup Lucid Motors will reveal its first SUV on November 16 on the Los Angeles motor present, which the corporate claims will “reimagine what an SUV can supply”.

First previewed virtually a yr in the past, reservations have been open to North American patrons since early 2023 forward of buyer deliveries in 2024. Affirmation of European and Center Japanese deliveries will comply with.

There’s no phrase but on an Australian launch for the model, however a report earlier within the yr advised right-hand drive manufacturing was on the playing cards.

The Gravity might be produced alongside the Air sedan at Lucid’s Casa Grande manufacturing facility in Arizona, which is being expanded to accommodate the brand new car.

11.16.23 pic.twitter.com/7mroAdefYa— Lucid Motors (@LucidMotors)
October 22, 2023

No car specs have been revealed, nonetheless the corporate has made some daring claims in regards to the SUV.

Lucid has mentioned the Gravity could have “the driving dynamics of a sports activities automotive” and beforehand confirmed it’ll have brand-first air suspension together with higher electrical vary than any SUV in the marketplace at this time.

The model additionally says it is going to supply higher aerodynamics than any SUV on this planet. For that it must beat the drag coefficient of 0.25 claimed by each the Tesla Mannequin X and Mercedes-Benz EQE SUV.

The corporate guarantees the Gravity’s vary will exceed the rest in the marketplace, apart from the corporate’s personal Air.

Below the stricter US EPA take a look at cycle, the Air affords between 660km and 830km of vary relying on the variant.

The Mannequin X, for context, affords a spread of 536km (Plaid) or 560km (normal) on each the EPA and WLTP take a look at cycles.

Count on the Air’s 900V electrical structure to hold over to the Gravity, which helps DC fast-charging at as much as 300kW.

The Gravity might be accessible in both two- or three-row configurations, with “versatile” seating configurations for 5, six or seven adults.

Extra storage might be discovered within the “frunk” — or entrance trunk — whereas Lucid additionally guarantees bi-directional charging and accessible towing functionality.

The Gravity will even debut the subsequent era of Lucid’s Glass Cockpit high-resolution shows, which use the Lucid UX interface.

Lucid might be hoping the Gravity can enhance its monetary state of affairs.

Bloomberg estimates Lucid is shedding roughly US$338,000 (A$535,000) on each Air it sells. For context, the Air is priced from US$77,400-$249,000 (A$122,000-$394,000), relying on the variant.

That’s worse even than equally younger EV startup Rivian, which Bloomberg estimates is shedding $US110,000 ($AU174,500) on every car it produces.

Its share value is down from a peak of US$55.21 (A$87.60) on November 19, 2021 to only beneath US$5 (A$7.93).

It additionally posted a US$2.6 billion (A$4.12bn) loss final yr and minimize 18 per cent of its workforce – or round 1300 staff – again in March.

On the brilliant facet, Lucid has partnered with Aston Martin, and can provide the British marque with “future powertrain and battery expertise”.

As a part of the brand new partnership, Aston Martin will subject round 28 million new shares to Lucid, giving the American agency a stake of about 3.7 per cent within the British agency.

Aston Martin has additionally agreed to pay Lucid “in extra” of US$450 million ($673 million). These funds might be made in phases, and the overall determine features a lump sum, in addition to money for drivetrain elements, batteries, electronics, and consulting and technical companies.

The 2 automakers say the brand new partnership was born out of a “aggressive course of”, however it needs to be famous Saudi Arabia’s Public Funding Fund (PIF) owns stakes in each Aston Martin and Lucid.