Lucid Motors To Unveil EV With Over 500 Miles Of Range, Surpassing Tesla Model S

When it comes to electric vehicles, Tesla Inc TSLA is by far the most well-known brand. But many new companies are emerging with vehicles that sound as good as or better than what Tesla is currently offering (not to mention legacy auto's failed attempts).

Now, an upcoming EV looks to surpass even Tesla's industry-leading range.

Lucid Motors, via independent testing, now expects the company's Lucid Air to achieve over 500 miles of range when it gets EPA tested later this year. This beats the record-setting Tesla Model S current range of 402 miles.

Lucid gives credit to its 900-volt power system, with an efficient body shape, electronics, and software, helping them achieve the record range. The Lucid Air will be fully revealed on Sept. 9.

Benzinga's Take: Independent testing showing over 500 EPA rated miles is extremely impressive. But with an unknown battery size and price, it remains to be seen how competitive this car can be with Tesla's Model S.

If the Lucid Air can pull this off without a monster battery, it means the company's car is extremely efficient, which will also lead to an affordable car.

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Photo courtesy of Lucid Motors.