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Lucid lowkey confirms expansion plans for Europe

Lucid, a California-based luxury electric vehicle manufacturer recently confirmed its plans for expansion towards European markets.

With the opening of their latest manufacturing plant in Casa Grande, the company was able to ramp up the production of the vehicles. Peter Rawlinson, the CEO of Lucid, talked about some of the milestones and challenges on the way.

“We remain confident in our ability to achieve 20,000 units in 2022. This target is not without risk given ongoing challenges facing the automotive industry, with global disruptions to supply chains and logistics.”

At the end of the third quarter of 2021, Lucid proudly stated that it had over 17,000 reservations for the Air sedan, which represents an order value of $1.3 billion. Ever since Lucid went public with a SPAC merger Churchill Capital, its stock rose in value by more than 80%.

Lucid Air interior

Lucid CEO Peter Rawlinson previously claimed that the business planned to expand to Europe and the Middle East in 2022, followed by China in 2023. The tweet confirms that they are on track with the plan, however we still don’t know how much the Air will cost or which countries will get it first.

Norway and Germany initially come to mind when talking about expanding to Europe, as these two have seen the fastest adoptions of electric vehicles. With that in mind, Lucid will have to work on presentation and marketing, as it will enter one of the hardest markets, dominated by vehicles that originate from Germany (Mercedes EQS, Porsche Taycan, Audi e-tron)

1 comment
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