Lucid unveils midsize EV platform, targets profitability with SUVs

Lucid says its entry into the high-volume midsize SUV market will be key to achieving profitability, and it plans a trio of electric SUVs built on a new midsize EV platform engineered to deliver a starting price below $50,000. "Today, were keeping the same Lucid product and technology DNA intact, while applying increased scale, capital efficiency, and cost discipline, and materially reduced costs, to enable a great business with a clear and credible path to profitability and free cash flow, supported by what we are executing now and what we are building for the future," said Marc Winterhoff, interim CEO at Lucid.

The company provided a few details about the first two SUVs on the platform. The Lucid Earth is aimed at "trendsetting achievers" and will be the more spacious model. The Lucid Cosmos is expected to be sportier, targeting "upscale nurturers." An unnamed third SUV will likely be more off-roady, filling the same niche that Rivian has gone for with its R2.

lucid, ev platform, midsize suv, suvs, lucid earth, lucid cosmos, profitability, $50,000, marc winterhoff, rivian