Effectivity, effectivity, effectivity. It’s crucial efficiency spec to take into account when evaluating EVs, and Lucid Motors is the worldwide chief. After lately sharing that its flagship Air sedan has earned the title of probably the most environment friendly manufacturing automobile on this planet, Lucid CEO Peter Rawlinson shared some knowledge that explains simply how far forward the American automaker is and the way lengthy it’d take its opponents like Tesla to catch up.
It’s been an thrilling summer season for Lucid Motors ($LCID) – a comparatively younger EV model slowly however absolutely making a reputation for itself as one of many leaders in know-how, progressive luxurious, and the almighty gospel of effectivity.
Following a considerably gradual gross sales 12 months in 2023, Lucid has posted back-to-back document deliveries within the first two quarters of 2024, relaying that it stays on monitor to succeed in its annual manufacturing goal of 9,000 models by the tip of the 12 months. Q2 income additionally topped Wall Avenue’s estimates by an additional $8.2 million, setting the stage for one more potential document quarter because the automaker approaches scaled manufacturing of its second mannequin – the Gravity SUV, earlier than 12 months’s finish.
“Present, don’t inform” has been an efficient technique for Lucid Motors lately. The corporate’s CEO hinted at an Air mannequin that had achieved an effectivity ratio of 5 miles/kWh in June, following up by saying that none of its opponents are even near that.
In July, Lucid confirmed its base-model RWD Air Pure was the EV to hit the holy grail 5 miles per kWh milestone, touting it as probably the most environment friendly manufacturing automobile on this planet. On paper, the Air Pure’s 420 miles of EPA vary ought to wow the typical shopper, however these engrained in EVs like ourselves are much more impressed by the sedan’s effectivity and what it means for future fashions.
Greater effectivity permits for smaller batteries, which lowers Lucid’s manufacturing prices and interprets to extra reasonably priced fashions for purchasers. All whereas nonetheless delivering a number of the finest vary within the trade, it is a win-win state of affairs.
Not too long ago, Lucid CEO Peter Rawlinson took to LinkedIn to element simply how far forward the corporate is in its know-how and even referred to as out some vital opponents to point out how lengthy they’re projected to take to catch up.
Lucid CEO makes use of knowledge forecasts to point out why it’s successful
As you possibly can see from the information chart from Lucid Motors above, the Air is already near 25 MPGe forward of its second closest competitor, the Tesla Mannequin S (an EV that Rawlinson helped design earlier than he took over as Lucid CEO).
That hole between Lucid and Tesla might not appear that enormous, however forecasts utilizing mixed knowledge from Lucid Motors and fueleconomy.gov estimate the Mannequin S to hit the 146 MPGe mark eight years from now. On the velocity at which the EV trade is transferring, eight years feels extra like 20.
Whereas Tesla is a distant second behind Lucid, luxurious EVs just like the Mercedes-Benz EQS and the Porsche Taycan are even additional behind. As Lucid’s CEO put it again in June, these opponents “aren’t even shut.” Per Rawlinson’s LinkedIn publish:
It’s attention-grabbing to position the importance of this into context by evaluating Lucid Air with probably the most environment friendly variations of its competitor set, the Porsche Taycan, the Mercedes EQS and the Tesla Mannequin S, and hint tendencies by means of respective manufacturing durations.
Effectivity is of essential significance in making a greater, lighter, extra spacious, longer-range automobile, and immediately impacts price to fabricate. Subsequently, effectivity is arguably the one most legitimate litmus of an organization’s core EV technological functionality.
You possibly can add (some stage of) autonomy, reclining seats, or low-cost thrills like “Fart Mode,” however on the finish of the day, it’s probably the most environment friendly EVs which might be going to seek out probably the most success in the long term. Based mostly on the main points shared by Lucid’s CEO, the automaker has the golden goose, which can propel it to standing as one of many world’s most precious and profitable automakers.
These are forecasts, and we have no idea what Tesla and Mercedes have occurring of their R&D departments. Nonetheless, you possibly can wager they’ve that 5 miles per kWh ratio pinned up on the wall as a each day reminder of the place they should be, however who is aware of how a lot Lucid’s know-how will proceed to enhance throughout that point. On the very least, Lucid is setting the stage for a decade-plus of competitors worthy of changing into tailored into historic drama in Hollywood sometime.
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