'Pack A Bag And Go:' Why Lucid Is Telling Potential EV Customers To Take A Grand Tour

EV company Lucid Group Inc LCID is eyeing grand tours with its Lucid Air Touring and Grand Touring models.

What Happened: “Welcome to the life of luxurious spontaneity,” Lucid said in a tweet on Sunday about its Grand Touring model. The car comes with an estimated range of 516 miles with 19″ wheels, 20-way massaging seats, glass roof and spacious interiors, the EV maker said.

The cars can make it from Los Angeles to San Francisco, from Phoenix to Santa Barbara or New York to Boston and back.

Lucid Lineup: Lucid Air Grand Touring and Grand Touring Performance commenced deliveries in April 2022. In November, the EV maker announced the completion of its Air lineup with the Lucid Air Pure and Air Touring. The five variants, including the limited-production model Air Sapphire, ‘complete our remarkable Air Family,’ Lucid said.

Lucid's Air sedan has broken records with its 520-mile range on a single charge, the longest-ever EPA rating for an EV. Tesla's highest range of 405 miles trails the base model of Lucid Air; Lucid Air Pure has an EPA estimated range of 410 miles.

Why It Matters: Despite its high range vehicles, Lucid reported first-quarter sales of $149.43 million, missing a consensus estimate of $209.88 million.

The California headquartered company produced 2,314 vehicles in the quarter, delivered 1,406 vehicles and reported a loss of 43 cents per share which missed a Street estimate of a loss of 41 cents per share.

Earlier this month, Lucid announced special lease and financing offers on available 2023 Lucid Air Touring and Grand Touring models through Lucid Financial Services. The offer is available through June 30.

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