Lucid’s Debut EV Gets 520-Mile EPA Rating, Eclipsing Tesla
(Bloomberg) -- Electric vehicle maker Lucid Group says a version of its debut sedan has been confirmed as the longest-range EV ever rated by the U.S. Environmental Protection Agency.
Lucid said the EPA awarded a version of its battery-electric Air Dream Edition with an official rating of 520 miles of range. This eclipses Tesla Inc.’s highest range model -- the S, which has an EPA-estimated range of 405 miles. Lucid plans to build fewer than 500 cars with these specifications, however, and they’ll cost $169,000.
Lucid, based in Newark, California, has often been labeled a potential competitor to Tesla, in part because it claimed world-beating ranges for its vehicles while they were still in development. Chief Executive Officer Peter Rawlinson was also previously the chief engineer on Tesla’s Model S sedan.
The company’s shares rose as much as 8.5% to $21.60 after the start of regular trading in New York. On Wednesday, the stock rose 5.1% after the website Autoweek and others reported the longer range. Stories were later removed, but not before they were widely shared on Twitter.
The company’s new plant in Casa Grande, Arizona, was built in less than a year. Production there is due to start by the end of 2021, but Lucid has encountered numerous setbacks. An agreement to go public via a reverse merger with a blank-check company in February further delayed the release of their debut car.
Read More: Lucid Production Timeline Delayed by SPAC’s Quality Concerns
In a statement, Rawlinson said the Lucid Air Dream Edition Range has been “officially accredited” by the EPA with a range of 520 miles -- “a number I believe to be a new record for any EV.” He attributed the achievement to Lucid’s technology.
The EPA declined to comment.
|Lucid ‘Air’ Model||EPA Estimated Range|
|Dream Edition Range (19” wheels)||520 miles|
|Dream Edition Range (21” wheels)||481 miles|
|Dream Edition Performance (19” wheels)||471 miles|
|Dream Edition Performance (21” wheels)||451 miles|
|Grand Touring (19” wheels)||516 miles|
|Grand touring (21” wheels)||469 miles|
The agency also estimated the “Grand Touring” version of the sedan with 19-inch wheels has a range of 516 miles, Lucid said. That model will go into production this year and cost $139,000. The other variations of the vehicle all have estimated ranges that are greater than 450 miles.
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