Lucid CEO Says “The Market Sucks” For Cheap $25,000 EVs

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Lucid CEO Peter Rawlinson believes other brands could achieve that price point by licensing his company's technology

Lucid CEO Peter Rawlinson says that the cheap electric car market sucks. Instead of building a low-cost Lucid, he thinks other OEs should license its tech. Other brands might already be planning on a cheap EV with or without Lucid. Tesla and Elon Musk have long promised a $25,000 electric vehicle, but that idea has now been largely abandoned, with the EV maker's boss recently dismissing it as pointless.

As a tech company licensing out tech so that other OEs can benefit from that and they could put such a vehicle in place. They have a more installed manufacturing base. No doubt, other OEMs have a larger production infrastructure when compared to Lucid. The fledgling EV company will sell fewer cars this year than supercar manufacturer Lamborghini, a far cry from the kind of figures it'll need to do to be a long-term sustainable brand of its own merit.

 

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