New York Auto Show: Lucid Motors dreams of becoming the next Tesla

New York Auto Show: Lucid Motors dreams of becoming the next Tesla

Lucid Motors' first electric vehicle is the Lucid Air, which it says will hit production in Arizona in 2019.

The company told journalists that its Lucid Air would have “up to” 400 miles of battery range and 1,000 horsepower, which would make it one of the most powerful street-legal vehicles in the world. The base model would start at $52,500 after federal tax credits, offering 400 horsepower and battery range of 240 miles, or about the same range as GM’s new Chevrolet Bolt.

Lucid now says it will start manufacturing in the first half of 2019 with plans to assemble 10,000 vehicles within its first 12 months in operation and 130,000 units annually by 2022.

The company said its investors include American investment firm Venrock, Japan-based Mitsui and China-based Tsing Capital.

Lucid spokeswoman Amanda Hundt said the company had raised three rounds of funding worth “hundreds of millions” and is currently seeking a fourth round of financing.

She said the company would sell directly to consumers — a strategy similar to Tesla’s.

“We will start by opening retail stores and build up to a steady rollout plan throughout 2018 and beyond,” she said in an email. “We will begin opening service centers as we start nearing production.”

Follow USA TODAY reporter Nathan Bomey on Twitter @NathanBomey.



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