Lucid Motors has announced pricing and reservations for its anticipated Gravity SUV, an electric vehicle poised to enter the luxury SUV market. The Gravity, with a starting price of $95,000 for the standard model and reaching $145,000 for a limited edition version, is now available for pre-order with a refundable $500 deposit. Lucid aims to begin deliveries by late 2025, which marks the company’s shift beyond its initial Lucid Air sedan and into a competitive, growing electric SUV market.
The move comes at a critical time for Lucid, which has faced recent production and financial challenges. Previously, Lucid Motors experienced delays and difficulties meeting delivery targets for the Lucid Air, leading the company to seek capital from its primary investor, the Saudi Public Investment Fund. Now, Lucid hopes the Gravity will strengthen its market share, despite the delayed timeline and a broader slowdown in electric vehicle sales. According to Lucid CEO Peter Rawlinson, “The Gravity is a game-changer for us, designed to meet demand for electric SUVs while setting new standards in luxury and performance”.
The Gravity SUV will offer two trims initially: the Touring, priced at $79,900 and expected to go into production in late 2025, and the Grand Touring at $94,900, which is set to enter production in late 2024. Customers can configure and reserve their Gravity SUVs on Lucid’s website starting November 7, with priority given to existing Lucid customers. Each trim is designed with premium features, including Lucid’s high-performance 900V electrical architecture, providing up to 440 miles of range on a single charge, 800 horsepower, and a 0-60 mph acceleration in under 3.5 seconds. The Gravity is also equipped with Tesla’s NACS charging port, making it compatible with Tesla’s Supercharger network, a first for Lucid vehicles.
However, the high starting price could limit the Gravity’s appeal compared to competitors like Tesla’s Model X or Rivian’s R1S. Analysts suggest that Lucid’s pricing strategy may make the Gravity appealing within the luxury segment but could challenge the company’s goal of expanding its market presence. Additionally, the delay until 2025 may deter potential buyers seeking an immediate switch to electric SUVs.
With industry experts emphasizing the importance of differentiating features to succeed in this market, Lucid’s strategy will rely heavily on establishing the Gravity’s luxury appeal and performance capabilities.
