Lucid Motors Plans to Move Into the Middle Eastern and Chinese EV Markets by 2025
Carlos Kirby
· 4 min read
Lucid Motors only recently delivered the first units of their Lucid Air
electric vehicle
, and they are planning to only get bigger moving forward. According to CNBC
, Lucid is planning to expand into China and the Middle East as well.Companies that specialize in EVs like Tesla have become household names, and industry leaders have started producing EVs like the Ford F-150 Lightning. You may or may not have heard of Lucid Motors, another new player in the EV market, but they are aiming to become a top contender.
The growth of Lucid Motors in the United States
Lucid is based in California, and its production facility is located in Casa Grande, Arizona. Currently, Lucid is producing one electric car model, the Lucid Air, and they plan to produce 20,000 Air units next year. Their factory is already prepared to produce up to 34,000 annual units, though.
This is only the start for the American Lucid Motors factory, though, as they are already expanding their facility. After the next stage of expansion, Lucid will be able to produce 90,000 vehicles a year. Then, in the stage after that, they hope to produce 400,000 EVs annually.
Early Lucid Air sedans were delivered to reservation holders in October. Lucid currently has more than 17,000 reservations for future vehicles, and this number is continuing to grow.
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Lucid Motors expanding to China and the Middle East
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The CEO of Lucid Motors stated in an interview with CNBC that he hopes to expand the company to China and the Middle East. His goal is to have factories built abroad by the middle of the decade.
This expansion, particularly into China, makes sense considering the growth of the EV market worldwide. China is seen as particularly important considering how many EVs are sold there. It makes sense for Lucid to want to get in as quickly as possible before the market becomes oversaturated.
When Lucid does open a factory in China, they will face stiff competition from companies that are already established there. EV industry leader Tesla has a factory in Shanghai, and there are other Chinese-based electric vehicle manufacturers. One notable name is Nio, which some believe could rival Tesla for the top of the Chinese market.
What is the Lucid Air like?
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The Lucid Air is an electric sedan that is turning heads for its impressive range and other luxury features. Despite the Air's current limited availability, it is already gaining buzz among car enthusiasts and critics. MotorTrend recently named the Lucid Air as their car of the year.
According to
Lucid
, the Air offers some of the most impressive specs of any EV out there right now, even more, impressive than Tesla EVs. Range is one of the most discussed EV factors, and Lucid claims the Air can go 520 miles on a single charge. In terms of power, the Lucid Air reportedly produces 1,111 horsepower.Style is another selling point, as the Air is one of the most beautiful sedans to come out in years, electric or otherwise. This is in part due to the available glass canopy. However, this beauty and power do not come cheap, as the Lucid Air starts at $78,900.
Where to go for EV auto insurance?
Lucid Motors is becoming more prominent in the auto industry, and companies and drivers are making the switch to electric. Regardless of what you drive, you can save money on car insurance with
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