Lucid Will Makes Its Way to Europe by the End of 2022
Lucid wants to take on its main rival Tesla across the Atlantic. Will Europeans go for the company’s luxury EVs?
Lucid announced in May that it plans to start selling its electric vehicles in Europe by the end of 2022. Sales of its Lucid Air Dream Edition P and R sedans will begin in Germany, the Netherlands, Norway, and Switzerland.
It’s not hard to understand why
EV startups
like Lucid and Tesla want to move into Europe. The continent has one of the hottest markets for electric vehicles. Sales have even overtaken gas cars in some countries. Lucid’s European goals target a receptive audience
EVs are selling like hotcakes in Europe. Even with all the production issues plaguing the auto industry right now—what with the war in Ukraine, the ongoing
chip shortage
, and all the other supply chain setbacks—fully electric model sales were up 47% in March compared to last year.Fellow American brand Tesla already owns a nice slice of that pie thanks to its Model 3 and Model Y, the two bestselling EVs on the continent, as per
Inside EVs
. So it’s no surprise that Lucid wants to get a piece of the action. Lucid’s focus on northern nations shouldn’t shock you either. In Norway, plug-in vehicles already make up 92% of the auto market.
And while other
EU members
like Germany, the Netherlands, and Switzerland trail behind, EV adoption grows steadily in those countries as well. Plug-in marketshare is at 24%, 25%, and 28%, respectively.Lucid’s cross-Atlantic announcement paired with price hikes
Lucid’s big plans for international success won’t come easy. Right now, commodity prices, continued microchip scarcity, and inflation rates have pushed the prices of electric cars up, and the California-based brand is no exception.
Low production numbers might be the key reason for the rising prices. Lucid expects to build only 12,000 to 14,000 cars this year. Whether that’s a bid to create Ferrari-like value through scarcity or a realistic goal set under extreme supply chain difficulty remains unclear.
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