Affirmative announcement about Lucid Motors' planned debut of a midsize electric SUV in 2026, priced at $50,000
Lucid Announces Affordable Midsize Electric SUV for 2026
California-based electric vehicle manufacturer Lucid Motors is set to expand its lineup with the introduction of a new midsize electric SUV, slated for release in late 2026. The company, backed by Saudi Arabia's Public Investment Fund, aims to bring this more affordable model to market to cater to a broader audience and compete with established players in the industry.
According to Derek Jenkins, Lucid's senior vice president of design and brand, the company is on track for the 2026 launch. The anticipated price point for this new model is around $50,000, significantly lower than Lucid's current luxury SUVs like the Gravity, which start at about $79,900 to $94,900 for higher trims.
The midsize SUV will compete with models like the Tesla Model Y, Audi Q6 e-tron, and Porsche Macan. While Lucid's current full-size Gravity is positioned at a higher luxury price tier, making it a natural rival to more premium offerings, the new midsize SUV is expected to bring Lucid’s signature efficiency and performance to a broader market with a next-generation powertrain designed for lower costs without compromising efficiency.
In addition to the midsize SUV, Lucid is also set to launch a Touring version of the Gravity SUV later this year, priced at $79,900 USD.
To localize its supply chain in response to renewed U.S. tariffs, Lucid is in the process of signing agreements with battery cell and graphite suppliers to bring production to the United States. These new agreements, which have not been previously announced, are part of the company's strategy to ensure a steady supply of components for its growing production.
Lucid's interim CEO, Marc Winterhoff, confirmed that the production shift and the new Touring Gravity SUV are not affected by the renewed U.S. tariffs. The company is also not planning to raise prices due to these tariffs, according to Winterhoff.
Lucid expects to double overall production to around 20,000 units in 2025. The production increase and the new Touring Gravity SUV are expected to help Lucid gain more market share in the SUV segment, as the company competes with the Ford Mustang Mach-E, Hyundai Ioniq 5, and Rivian's R2-vehicles.
In summary, Lucid is set to launch a midsize electric SUV in 2026, priced at around $50,000, and a Touring version of the Gravity SUV this year. The company is also taking steps to localize its supply chain in response to renewed U.S. tariffs and expects to double its production to around 20,000 units in 2025.
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