With Range Boost, Lucid’s Outlook Improves

Lucid announces details about the ’24 Air Grand Touring that make it faster to charge the battery-electric sedan and farther to drive between charges.

The  GT will travel up to 516 miles (830 km) on a single charge, producing 819 hp, even in cold-weather conditions, giving it for now the longest range of any BEV.

The GT now has the same heat pump available on the higher-priced Air Sapphire to mitigate the effects of cold weather on the battery pack, and also is enhanced to make charging 15%-30% faster on a DC charger.

The GT starts at $109,900. The rest of the ’24 Lucid Air range consists of: Air Pure ($69,900) with up to 419 miles (674 km) of range and 430 hp; Air Touring ($77,900) offers up to 411 miles (661 km) of range, producing 620 hp; and the Air Sapphire, featuring a 3-motor powertrain with 1,234 hp, achieving 0-60 mph (97 km/h) in 1.89 seconds, 0-100 mph (161 km/h) in 3.84 seconds, the quarter-mile in 8.95 seconds and a top speed of 205 mph (330 km/h), all coupled with an EPA-estimated 427 miles (687 km) of range.

Lucid continues to struggle convincing investors and would-be purchasers that it has staying power despite its backing by the Saudi Sovereign Wealth Fund. The fund recently pumped an additional $1 billion into the company. Shares of Lucid traded this week around $2.40, well off its $8.37 52-week high.

Lately, however, perhaps because of the Saudi support, analysts have improved their ratings of Lucid for 2024. There is a consensus upgrade of $900 million in revenues this year, a 51% improvement over the past 12 months, with losses shrinking 14% to $1.06 per share.