Lucid Air on faster pace to market

At the same time, Lucid opened its eighth company-owned showroom, in New York City’s Meatpacking District.

Under New York law, the Lucid showroom is not allowed to sell vehicles; it will serve as an immersive experience into the luxury brand.

While Lucid offers a virtual-reality experience online to shoppers nationwide, it also is rolling out physical studios in key U.S.

Lucid said last week that it has more than 10,000 reservations for the four versions of the Air coming this year and next year.

The least expensive version of the nameplate, called the Air Pure, starts at $77,400, not including shipping or the federal tax credit.

As a result, Lucid is combining two coming phases into one, which will increase production capacity for the Air and create a dedicated assembly line for the Gravity.

That arrangement, which will take Lucid public, is expected to close in the third quarter, Lucid said.

Lucid reiterated its expectation that existing cash from the merger will fund its planned operations through at least 2022.

…Read the full story