Lucid Motors delivered 3,109 cars in Q1, a 28% year-over-year increase, largely owing to Tesla owners switching brands. The Lucid Air, touted for its impressive range of up to 512 miles and luxury features, plays a crucial role in this growth despite its high price points of $70,000 to $250,000. The company expects further growth with the upcoming launch of the Gravity SUV, aiming to attract a broader customer base. Interim CEO Marc Winterhoff emphasizes Tesla owners' influence, with 50% of orders coming from former Tesla drivers.
Tesla owners always have been a source of customers for us," said Lucid's Interim CEO Marc Winterhoff. "We saw a dramatic uptick in the last two months.
The Lucid Air is a phenomenal machine...with up to 512 miles on a full charge...it costs between $70,000 and $250,000.
Despite the high price tag, the Air just helped Lucid achieve its fifth consecutive record quarter for deliveries.
We're broadening our appeal to a wider audience that may not be so convinced about a luxury electric sedan.
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