Lucid unveils new Gravity electric SUV starting at $80K

EV maker Lucid (LCID) revealed new information today about its upcoming full-size Gravity SUV at its Technology & Manufacturing Day on Tuesday, September 10.

Yahoo Finance senior autos reporter Pras Subramanian explains new information surrounding the Gravity EV, including a charging port to access Tesla's (TSLA) supercharger network and the electric vehicle's pricing starting at $80,000,

For more expert insight and the latest market action, click here to watch this full episode of Asking for a Trend.

This post was written by Luke Carberry Mogan.

Video transcript

Ev maker Lucid revealing new information about its upcoming full size gravity SUV.

And for more, we're bringing in Yahoo Finance's senior Autos reporter Pro to Marin.

Yeah.

So Lucy had a manufacturing technology data, its factory and and it seems like Wall Street's liking what they saw a couple of things to go over.

First, you mentioned that gravity SUV it's on track for or later this year.

Production people are excited about that.

Uh They also added, they're gonna add the Tesla N A CS port.

So basically have native access to Tesla supercharger network.

That's a nice boom for that, for that for that vehicle.

But also they talked about a deep dive into their technology and how Lucid says that we're actually pretty cost competitive when it comes to our power training, the battery and electric drive units and stuff like that.

Uh They showed some numbers that an independent third party kind of put together, showing that they were pretty uh competitive in terms of price in terms of cost, but also better in terms of uh functionality and and performance.

But the proof is in the pudding, the car still costs a lot of money to make?

How much, how much are we talking about?

Do they give a price for this new, this new car is gonna start around $80,000 which is the threshold for the federal tax credit.

The problem is right now is last quarter, Luther lost around $300,000 per car they made, right?

So it's a scale issue and that's what Wall Street is talking about.

So, Bank of America has had a note come out this morning talking about how very positive on the technology on the technology front.

But also that this is a, this is a scale play.

Once this gravity comes out in the mid size car in 2026 they'll build up that scale.

So they're able to kind of amortize that cost and use the technology they have that, that, that, that's kind of world class technology that, that actually they can make that stuff cheaper than, than Tesla, for instance, that's something to be spread across a number of vehicles and that's the positive effect.

They think that's gonna be the future potentially for Luid the stocks.

I mean, it's kind of, it's rough, right.

I mean, a year to date over the past two months, I know this is purely anecdotal but deep in the suburbs of New Jersey where I live, I see more lucid.

Yeah.

You know, anecdotal.

Let's, let's chat.

Right.

I've, I've been seeing way more lucents too and I think there's gonna be a lot of demand.

I mean, the, the CEO thinks there's gonna be a 30 X, uh, sort of, uh, uh, uh, market for the SEV versus the regular sedan.

Right?

So you might see more and more of these suvs, especially at $80,000.

I think that's a fair, that's a fair price for a luxury SUV, that, you know, people pay that all the time.

Right.

In places like New Jersey, it's a slick looking car.

Yeah, I think, and I saw the SUV in person at, uh, uh, Pell Beach and I thought it looked great, huge, but also I'm not huge, but it had a lot of interior space because of the way that the skateboard, like, like platform of the EV kind of is you can fit a lot of people, a lot of things in there.

I think it's a pretty nice looking car, uh, should play well in the coast, I believe.

All right, pros.

Thank you, my friend.

Appreciate it.