'Earth' Emerges as Lucid's Latest Sub-$50,000 Midsize EV SUV
By Dabbie Davis
May 11, 2024 02:01 AM EDT
Lucid Motors' upcoming third passenger vehicle, internally labeled as "Project Midsize," is expected to adopt the name "Earth," as per a U.S. trademark filing discovered by Electric-Vehicles.com. This trademark revelation discloses the brand's forthcoming, more budget-friendly model designation.
Next for Lucid: Earth Electric Vehicle
The officially confirmed compact Lucid SUV is set to be named 'Earth,' as indicated by a trademark filing. InsideEVs reports that the Lucid Earth, positioned as the brand's most economical offering, is scheduled for production in 2026.
Priced at approximately $48,000, this midsize crossover will emulate the success of Lucid's higher-priced Air sedan and forthcoming Gravity SUV. Direct competition with Tesla's Model Y is expected due to its size and pricing. However, by the Earth's release in two years, Tesla's base-level crossover could undergo updates akin to the Model 3.
Furthermore, InsideEVs stated at the conclusion of January, the United States Patent and Trademark Office (USPTO) recorded three trademark submissions linked to Lucid's cost-effective electric vehicle: "Earth," "Lucid Earth," and "Earth Dream Edition."
The Dream Edition, a variant within the Air sedan lineup, is positioned slightly below the highest-priced Sapphire model. This suggests that the forthcoming Lucid Earth may offer comparable trim levels to those found in the Air series.
What's to Expect from Earth
As to Autoblog, Lucid is purportedly planning to start manufacturing its most reasonably priced vehicle by 2026. This forthcoming vehicle is expected to be competitively priced under $50,000 and similar in size to the Tesla Model Y. The CEO of Lucid reaffirmed the midsize model and stated that the business aims to sell it for about $48,000, highlighting its emphasis on remarkable efficiency to match customers' expectations about range capabilities.
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The success of the Earth model holds significant importance for Lucid, potentially determining the company's future trajectory. With a two-year window before its release, rival manufacturers with stronger financial backing could implement enhancements. While a refresh for the Model Y is overdue, internal challenges at Tesla, such as recent layoffs and disruptions, could impede progress and delay updates.
Car and Driver notes that although Earth's official confirmation as Lucid's third model is still awaiting, it seems very likely. The trademark application is presently being examined by the USPTO. It was filed on January 31, 2024. In addition, the name suggests a similar brand idea with Lucid's current vehicles, the Air sedan and Gravity SUV.
Lucid Motors
TechCrunch reported that Lucid Motors achieved its highest-ever quarterly EV deliveries in the first quarter of 2024, albeit by a narrow margin. This milestone coincides with the company facing challenges in maintaining steady demand for its high-end luxury sedan, the Air.
With production of the Gravity SUV yet to commence, Lucid is relying on strategies like discounts, enhanced marketing campaigns, and introducing a more budget-friendly Air variant to sustain operations. In the interim, the company secured an additional $1 billion funding round from Saudi Arabia to support its ongoing financial losses.
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