Tesla rival Lucid plans to launch in Europe this year

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Folks check drive Dream Version P and Dream Version R electrical autos on the Lucid Motors plant in Casa Grande, Arizona, September 28, 2021.

Caitlin O’Hara | Reuters

Electrical automobile maker Lucid plans to start out promoting its vehicles in Europe this yr.

The California-headquartered agency, which competes with Tesla, introduced the enlargement on Tuesday after a Twitter user asked if a picture of some new Lucid homeowners had been based mostly within the U.Okay.

“Growth to European markets will start this yr. Keep tuned for country-specific supply data,” the company tweeted in response.

Lucid didn’t instantly reply to a CNBC request for extra data.

Lucid’s first automobile is referred to as the Air sedan. It began delivering a $169,000 “Dream Version” of the flagship automotive to prospects in late October, following industrial manufacturing starting a month earlier at a brand new manufacturing facility in Casa Grande, Arizona. The automotive has an industry-leading vary of 520 miles.

Like Tesla, Lucid is attempting to develop autonomous driving know-how that allows its vehicles to soundly drive themselves.

Axel Schmidt, who heads up the automotive sector at consultancy agency Accenture, informed CNBC Wednesday that tech firms have “underestimated all of the challenges” relating to getting autonomous autos on the highway.

He added that 60% to 70% of latest vehicles can have “Stage 2” autonomous driving capabilities by 2030. Meaning the vehicles will help with steering, staying in the proper lane and controlling velocity however they will not be capable of safely drive themselves till they attain “Stage 5.”

European reservations

In January 2020, Lucid began taking online reservations in 15 European nations for its flagship Lucid Air sedan however the agency has not specified when the autos can be delivered.

Places included Austria, Belgium, Denmark, Finland, France, Germany, Iceland, Italy, Monaco, Netherlands, Norway, Spain, Sweden, Switzerland, and the UK.

The corporate, based in 2007 and led by former Tesla govt Peter Rawlinson, went public by way of a SPAC deal in July that valued it at around $24 billion.

That month, it informed buyers that it expects to provide 20,000 Lucid Air sedans in 2022, producing greater than $2.2 billion in income.

Overtaking Ford

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