Lucid Group (
NASDAQ:
LCID
) verified on Tuesday that it is poised to join the midsize electric SUV market in 2026. This move could pose a challenge to Tesla’s supremacy in this sector.
TSLA
) Model Y, provided it can introduce its new version to the market for approximately $50,000. Other models that Lucid’s
NASDAQ:
LCID
The introduction of this new SUV might affect areas including those related to Ford.
F
) Mustang Mach-E, Hyundai
OTCPK:HYMTF
) Ioniq 5 and the upcoming Rivian (
RIVN
) R2.
The new model will join the Lucid Air sedan and Lucid Gravity SUV in the company’s lineup. Lucid Group (
LCID
) also plans to launch the less-expensive Touring variant of the Gravity SUV later this year, starting at $79,900. The more affordable version of the Gravity SUV, will feature slightly less power and range than the Grand Touring version, but similar tech and space.
In terms of tariff disruption, Lucid Group (
LCID
believes it can reduce the adverse effects by having previous arrangements with battery cell and graphite suppliers. “These agreements are already in place,” noted interim CEO Marc Winterhoff. “The facilities are currently under construction, so we cannot activate them immediately. However, they will be operational soon.”
Shares of Lucid Group (
LCID
They have decreased by 18.1% year-to-date, compared to the Dow Jones U.S. Auto Manufacturers Index which has fallen by 36.8%.
DJUSAU
).
More on Lucid
- Lucid Could Thrive at Tesla’s Detriment, Yet Remains an Unsuitable Investment
- Clear: Potential Reversal in H2 2025 If Gravity Gathers Momentum
- Lucid: Sales Case Verified – No Gains Expected
- Lucid emerges victorious in bankruptcy auction, set to take over Nikola’s facility in Arizona along with additional assets.
- Lucid exceeds Q1 delivery targets and surpasses last year’s figures.