Lucid teases its answer to the Tesla Model Y: cost and release date

Lucid has teased its answer to the Tesla Model Y, how much it will cost, and when it will come out as it attempts to penetrate the EV market and take more total share out from its competitors.

The Tesla Model Y has dominated not only the U.S. EV market but the global automotive sector as a whole, as it was the best-selling car globally in 2023.

That does not stop competitors from targeting the vehicle and the highly competitive crossover SUV market, which has come to be one of the most popular in the world, but especially the United States.

Tesla says Model Y has achieved unthinkable ‘best seller’ label in just four years

Lucid is looking to break into that market. With a luxury sedan and an upcoming luxury SUV both to be available as an option in the coming years, the automaker is looking forward by already working to develop its next vehicle.

It will be a midsize vehicle, Lucid said. The company also included a teaser image in its press release, where it also confirmed the Gravity SUV will equip the Tesla North American Charging Standard (NACS) inlet, eliminating the need for an adapter.

Here is what Lucid showed in the release today:

A teaser image of the Lucid midsize vehicle (PRNewsfoto/Lucid Group)

New Atlas Drive Unit

Along with a new vehicle design comes a new drive unit, as Lucid will incorporate its new Atlas drive unit into the midsize vehicle.

This drive unit is smaller to allow for more interior cabin space and is more efficient, as Lucid hopes to improve on its already industry-leading range and efficiency.

It will also utilize a proprietary software stack that “enables the full potential of the advanced drive units and provides powertrain controls including torque vectoring, traction control, and battery management,” the company said.

This will likely lead to cheaper vehicles down the road.

More Than One On the Way

While this midsize vehicle is being teased, it is important to note that it is not the only one Lucid is planning for.

In an interview with Yahoo Finance, CEO and CTO Peter Rawlinson said:

“There’s not just one midsized vehicle, there’s a plural. I’ve not disclosed how many based upon the midsized platform, but I mean that is going to take on the Tesla Model 3, Model Y — best-selling car in the world — but it’s going to have Lucid advanced technology.”

Rawlinson believes the new vehicles’ advantages over the Model Y will lie in range and cost-effectiveness.

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