Lucid’s First Midsize Entry is a Year Away – If it Can Raise New Capital

Lucid’s new Gravity model got off to a slow start, the EV marker’s CEO acknowledged, but production – and sales are ramping up, even as the company races to finish work on a trio of affordable, midsize models now scheduled to start rolling out by the end of 2026. That is, however, going to require Lucid to raise substantial amounts of new funding. More from Headlight.News.

The rollout of the Lucid Gravity has gotten off to a slow start, CEO Marc Winterhoff acknowledged during an online conversation, but sales have been notably stronger than some recent reports would suggest, and are rapidly gaining traction as the struggling EV manufacturer accelerates production.

Gravity is Lucid’s first all-electric SUV and is soon expected to outsell the brand’s original Air sedan, said Winterhoff, who took over as chief executive following the resignation of founding CEO Peter Rawlinson last February. If anything, Winterhoff said, demand is “outpacing what we can produce.”

Getting Gravity numbers up is critical, if for no other reason than to help fund development of the more affordable midsize models Lucid now expects to start producing by late 2026. But Winterhoff cautioned that the company will likely have to raise new capital to take that next big step.

Gravity sales finally on the rise

Lucid first came to market with the Air in 2021. Though well-reviewed, sales have been modest, reflecting both the sedan’s cost and the fact that the U.S. market has largely shifted to utility vehicles. First unveiled at the Los Angeles Auto Show in November 2022, Gravity only started rolling into showrooms early this year.

Things got off to a much slower-than-expected start, S&P Global Mobility reporting just nine of the electric SUVs were registered in the U.S. by the end of June, compared to 4,780 Air sedans registered during the first half of 2025. Such reports are “wrong,” the Lucid CEO said, another official adding that registration data also tends to lag several months behind actual sales.

But Winterhoff did acknowledge that Gravity production – and thus deliveries – got off to a much slower ramp-up than Lucid had hoped for. Working through some of the early bottlenecks, said the CEO, “We are currently ramping up our Gravity production…and are getting to higher numbers,” with the goal of having the SUV become Lucid’s best-selling model next year.

Three midsize models in the works

Longer-term, though, the plan calls for Lucid to rely on a new line-up of more affordable midsize products, Winterhoff providing more detailed insight on those plans than had previously been released.

As with Gravity and Air, Lucid is working with a new, skateboard-like platform that will give it the flexibility to deliver multiple “top hats,” or body styles. Initially, he said, “We have planned three top hats on that platform.”

The first, widely expected to be a midsize crossover dubbed “Earth,” will go into production by the end of 2026, said Winterhoff, the second launching “shortly after that.” A third midsize model, he continued, would come about 1.5 years later. At the point, “we will see what else” might be possible off that platform. But still more models could follow.

As for pricing, Winterhoff expects the first midsize model to “start at $50,000 or somewhat below.” For now, he does not foresee charging into the “low-cost space” where some competitors think the real growth in the EV market will be centered.

More Lucid News

• Lucid Reveals Trail-Ready Gravity Concept
• Lucid’s Model Y Fighter, the Earth, Set to Launch in Late 2026
• Lucid Switches to Tesla NACS Port, Gains Supercharger Access

Struggling for cash

There is, of course, a big “if” when it comes to Lucid’s future. The company has been struggling to raise cash, last year coming up with a new investment round of $1.75 billion, largely from Saudi Arabia. It closed on $1.1 billion in funding in April, posting an advisory on its website saying, “With this capital raise, Lucid should have enough cash on hand to sustain operations through 2026 and support the launch of its midsize vehicles.”

But that cash might not go far enough, Winterhoff now concedes.

“Our funding is enough to get us into the second half of next year,” he revealed, or short of the timing for the rollout of the first midsize model. “There will be additional funds needed by then.”

How much more money, he declined to say, nor would Winterhoff discuss plans to raise additional capital over the coming year.

The Trump factor

Complicating matters, federal EV tax credits will end on September 30, something widely expected to reduce U.S. demand for battery-electric vehicles in the months following. Lucid currently has an incentive program in place for potential buyers who order its products in September but who might not take delivery until after the credits of up to $7,500 end. That could further eat into its cash reserves, though the automaker is hoping it will generate better cash flow.

The decision to eliminate those federal incentives under the spending bill Congress passed last July reflects Pres. Donald Trump’s broader pushback on EVs – which includes cuts to funding of a nationwide charging infrastructure. More broadly, recent polls have shown U.S. consumers growing less upbeat on EVs, something Winterhoff downplayed as a “natural” trend following the exuberance earlier this decade.

“The negative sentiment is a passing phase,” he insisted, adding, “We are 100% convinced EVs are the way to go and the switch will continue.”