New Tesla Model S Competitor is Priced Cheaper Than Expected

Introduced late last year, the Lucid Motors Air could be a strong contender in luxury EV market.

The company has announced its all-electric sedan will start from $60,000 before federal tax credits while returning an estimated 240 miles of range. That’s compared to the Tesla Model S 60 that starts from $68,000 with 218 miles of EPA-estimated range. After federal tax credit in the U.S., however, the Lucid Air comes in at $52,500, giving it the impression that it’s a lot more affordable than originally expected.

The standard Lucid Air will feature 400 horsepower and all the hardware necessary for autonomous driving, much like new Tesla vehicles. The two trunks combine to offer over 32 cubic feet of storage and other luxury features include 12-way power front seats, LED multi-lens array headlights, four screens with interactive touch surfaces on three, five-seat configuration with a rear bench seat, 10 advanced airbags, aluminum roof, 19-inch wheels, 10-speaker audio system and over-the-air software updates.

SEE ALSO: The Lucid Motors Air Promises to Deliver What Tesla Doesn’t

Although the automaker didn’t go into detail on how the options will be priced, it did list them all out saying that a fully loaded model will cost over $100,000. Options include 315- and 400-mile range batteries, up to 1,000 hp with a twin-motor configuration and all-wheel drive (rear-wheel drive is standard), fully active suspension, glass canopy roof, rear executive seats that recline up to 55 degrees, 22-way power seats with heating, ventilation, dynamic bolsters and massage, 21-inch wheels, 29-speaker audio system with active noise cancellation and expanded leather trim with corresponding material upgrades.

The company will kick off Air production with 255 units of “Launch Edition” vehicles, that will likely be fully loaded and priced over $100,000. They will be a bit similar to how Tesla handles its Founder Series units.

But don’t expect to see the car until 2019, as Lucid Motors still has to construct its factory in Arizona, where the car will be built.