Lucid announces midsize EV platform, says profitability lies with SUVs

"Today, we're keeping the same Lucid product and technology DNA intact, while applying increased scale, capital efficiency, and cost discipline, and materially reduced costs, to enable a great business with a clear and credible path to profitability and free cash flow, supported by what we are executing now and what we are building for the future."

"With Midsize, we didn't compromise what makes a Lucid special, we engineered it to scale. These vehicles deliver unmistakable Lucid design and driving characteristics, while embracing a radically simpler, more efficient approach to manufacturing and cost."

"This unit uses 30 percent fewer parts than Lucid's current drive unit and weighs 23 percent less. Even better, its bill of materials is 37 percent cheaper. With this drive unit, plus an 800 V battery pack, Lucid's goal is up to 4.5 miles/kWh for the most efficient midsize variant."

Lucid announced its strategy to reach profitability by entering the midsize SUV market with three new electric vehicles built on a dedicated platform priced below $50,000. The company will offer the Lucid Earth for spacious appeal, the Lucid Cosmos for sporty performance, and an unnamed third model targeting the off-road segment. The new midsize platform maintains Lucid's design and technology identity while implementing manufacturing simplification and cost discipline. A new Atlas drive unit reduces parts by 30 percent, cuts weight by 23 percent, and lowers material costs by 37 percent. Combined with an 800V battery pack, the platform targets efficiency of up to 4.5 miles per kilowatt-hour, enabling smaller batteries for equivalent range.

Read at Ars Technica