Lucid's shares fall after company launches a cheaper version of the Air EV to boost demand

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Lucid announced a new version of the Air luxury sedan that starts below $80,000, in a bid to boost sluggish demand for the well-regarded, but costly EV.

Lucid said a new single-motor, rear-wheel-drive version of the Air Pure sedan will start at $77,400.were lower in early trading on Thursday after the company launched a cheaper version of its Air electric luxury sedan in a bid to stoke demand.it will now offer a single-motor, rear-wheel-drive version of its Air Pure sedan starting at $77,400 with 410 miles of range.

. While the Air has received strong reviews, and can claim the longest range of any EV currently available in the U.S., it's expensive – a growing concern as consumer borrowing costs have risen and as rivals including EV giant The new rear-wheel-drive version of the Air Pure is the first Lucid offering to start below $80,000. At the high end, the 1,234 horsepower Sapphire version of the Air costs $249,000.

The wage gap between Latinas and white men has hardly budged in 30 years: ‘We need more than good intentions to solve it'Lucid hasn't yet released its third-quarter production and deliveries totals. It's expected to report its third-quarter financial results in early November.State Fair of Texas

 

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