Is Lucid the new Tesla?

Tesla might be the biggest player in the Electric Vehicle industry but things may be about to change with the introduction of Lucid, states Adarsh

There was a time when electric vehicles were considered cumbersome. The technology was still in its infancy, the battery was too big and bulky, the price was too high…. overall there were just too many drawbacks to an electric vehicle.

That’s when Elon Musk came into the picture. He introduced us to Tesla, the ridiculously fast, modern and highly functional electric vehicle that could give any sedan a run for its money. And ever since, Tesla has grown from strength to strength, cementing its place as the market leader in the EV segment. As of November 2022, its market cap is valued at $522.08 billion.

But that might be about to change, with the sudden rise and popularity of Lucid Motors. Apart from winning over the market and the target audience, the Lucid Air has also beaten Tesla to a host of awards.

Earlier in 2022, the prestigious MotorTrend magazine hailed the Lucid Air as a “high-performing, long-range, game-changing electric sedan from a California startup” while awarding it its Car Of The Year award. And now, Lucid has another feather in its cap after it was named the Top Pick in the EV category by Cars.com.

Lucid vs Tesla

If you were to compare Tesla’s famous S Plaid, it gets overtaken in every category of comparison by Lucid’s Air Sapphire.

As you can see, the Sapphire pips the Tesla in every category. In fact, its superior charging rate gives it 300 miles’ worth of charge in only 20 minutes which is no match for the S Plaid.

The build of the Sapphire is also better and it’s the superior handling that helped it pip the Tesla to the awards. You could argue that the Air Sapphire is priced at almost twice what the Tesla costs.

But there are other models from Lucid that are more affordable. Take the Air Pure, for instance.

Again, the Tesla is no match in comparison with the Lucid and this time, the latter’s price also makes it more affordable. So it is quite obvious why more and more customers are leaning towards Lucid.

What makes Lucid better

Currently, every EV manufacturer is spending millions in a bid to come up with the best batteries. The aim is to figure out batteries that are lightweight, fast-charging and cheap. This is because the battery is the deciding factor when it comes to EVs. They dictate the charging speed, curtail the range per charge, and is the main reason why EVs cost so much.

But the Lucid uses the same LG Chem 21700 cells which have been used by Tesla’s Model S, X, and 3 since 2017. So what makes Lucid so much more efficient?

Because they’ve optimized everything else! Lucid has a unique permanent magnet motor that is extremely efficient, immensely powerful and incredibly light. They have wired the battery into a 900-volt configuration rather than the 375 volts like Tesla’s. This lets the battery charge quicker, reduces losses in the drive train and also negates the thermal load on the cooling systems, which increases range.

So even if the Lucid is using relatively older battery technology, the rest of the car is as perfect as it can get. And this is not by chance. There is a reason why Lucid is so much more efficient.

And the reason for that is Peter Rawlinson. The British engineer had worked at Jaguar, Lotus and Corus Automotive before joining Tesla in 2010. He was the vehicle engineer who designed the Tesla Model S. In 2012, Rawlinson left Tesla and a year later joined Lucid as their Chief Technical Officer.

In 2019, he was appointed as Lucid’s Chief Executive Officer and he has been principal in designing and launching their set of EVs. And as is evident in their performance, they are clearly designed by someone who had a hand in Tesla’s S Model.

So in effect, Rawlinson is only repeating his previous success. Having designed the optimal EV once, he is doing it again. But this time focusing on performance and efficiency instead of opting for a superior battery pack.

Lucid’s current market is $13.91 billion. In stark comparison, Tesla’s valuation is 37 times that. On paper, Lucid might be facing an uphill battle but in the market, Rawlinson and Co. are catching up quickly.

The last word

In the third quarter of 2022, Lucid announced that it had already delivered 1400 vehicles and had $199.5 million in preorders. Those numbers still have a long way to go if they hope to match with Tesla’s but considering the fact that Lucid has only been delivering cars since October 2021, that is a meteoric rise.

Going by their pace, Lucid Motors look set to give Tesla a run for its money. In fact, Lucid’s performance so far has earned it the nickname ‘Tesla Killer’.

Musk must be worried….

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