Lucid Motors said on Tuesday it will start delivering its luxury electric sedans with a Tesla-beating driving range in late October, in a major challenge to the market leader whose sales of premium models have stagnated.
The California-based startup began production of its long-delayed Lucid Air cars at its Arizona factory on Tuesday. The company, founded in 2007, received funding from Saudi Arabia’s Public Investment Fund in 2018 before going public via a shell company in July.
Lucid said on Tuesday it has received more than 13,000 reservations for Lucid Air models, whose price starts at $77,400. It also said it has increased the planned total production of the top-end Lucid Air Dream Edition to 520 vehicles. That car is priced at $169,000 and will be available in late October, followed by less expensive models: Grand Touring, Touring and Air Pure.
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