Lucid Motors has started rolling out its second product line and the all-new Gravity line is likely to determine whether the struggling start-off takes to the air or comes crashing back to earth. The first version of the electric SUV will start at $96,550, with lower-priced trims to follow late next year.
It’s been a tough year for EV start-ups, Fisker filing for bankruptcy, and several others expected to follow. But there have been a few glimmers of hope. Price cuts helped Lucid outperform sales expectations during the second quarter, buying it time to bring a second product line to market later this year. But with Wall Street still skeptical, the California manufacturer remains critically dependent on cash from the Saudis, Lucid’s largest investor.
Lucid Group named a new PR chief, Nick Twork taking on global communications duties at the EV start-up. The move comes at a critical time for the Silicon Valley-based automaker. While its initial product line, the Air sedan, has received generally favorable reviews, Lucid has been struggling with sluggish sales and a rapid cash burn while waiting for the more mainstream Gravity SUV to debut later this year.