Lucid Motors, launched from Silicon Valley, USA, caused a stir. In just one month, Elucid Motor became the world’s first car to cover a distance of 852 km on a single charge.
According to a report by BBC Urdu, the production of Loaded Vehicles started in September this year and by the end of October, it had managed to deliver a few dozen vehicles to its customers. Their first model, the Lost Air Dream Edition, has been named the car of the year by car magazine Motor Trend.
In terms of market value, Lucid is now worth more than a century-old company Ford. Silicon Valley is an emerging company in the age of loose electric vehicles and some believe it could beat Tesla. Their market value now exceeds $ 85 billion.
Their first model, the Lost Air Dream Edition, has been named the car of the year by car magazine Motor Trend. Data published by the US Environmental Protection Agency states that the Lossed can travel up to 520 miles (852 kilometers) on a single charge, the longest distance for any electric vehicle after a single charge.
And only 520 vehicles of this company’s first model will be sold in the market. The unit price of this model is $ 169,000.
Luxury car seats also have massage facilities and a solid glass roof.
Not only this, with the help of this car they can get ahead of the Ferrari in speed and they also have cheaper cars. The model called Air Grand Touring is priced at $ 139,000, The Touring is priced at $ 95,000 and Air Series is priced at $ 77,000. But the last two cars will hit the market by the end of 2022.
Lucid has assured us that it has orders for 17,000 vehicles and will deliver 20,000 vehicles. If these figures are compared with Ford’s sales, Ford sold more than 4 million vehicles in 2020, although this year the company faced many difficulties due to Corona.
Peter Rawlinson, CEO of Lucid, stated in numerous interviews that the company’s first model was seen as an important foundation on which they would establish their brand in the market.
“We had to make a masterpiece of technology and I think we’ve been able to do that in the form of Lost Air. The way we present our brand, our future will look the same. “
Rawlinson himself is a big reason why investors invest in Loss. The 64-year-old Rawlinson needs no introduction in the market.
He was responsible for engineering Tesla’s Model S but left Tesla after disagreements with the company’s founder, Elon Musk. Prior to that, he worked with Jaguar and was the Chief Engineer at Lotus Company. LUCID has also registered a number of patents for batteries used in electric vehicles.
The reason for the rapid growth of LUCID is the focus on reducing the weight of their vehicle and the size of the engine and equipment. This will not only increase the power output of the vehicle but also save space that can be used for other purposes.
Rawlinson says the reason behind the arrival of luxury cars in the market is access to their original purpose, which is the widespread use of electric vehicles.
To do this, they are willing to sell their company’s technology so that the company that buys them can make electric vehicles at a lower price.
But to get there, they must first strengthen their company, which is currently at a loss, not a profit, and faces a number of challenges. The details of these difficulties are published in the report which they give to their potential shareholders so that they are well aware of the risks and risks associated with their capital.
A similar 44-page report, published by the New York Times, states that the company has no experience in large-scale vehicle production. Nor do they have a customer service staff, and the company relies heavily on Rawlinson.
At the same time, many companies in the market are entering the field of electric vehicles with a long experience of mass production.
It remains to be seen whether Lossed Motors will emerge from the luxury car market and make low-cost vehicles.