CONNECT WITH US
EV & Mobility

EV & Mobility

Lucid's $50,000 Tesla Model Y Rival Is Getting Closer To Production. Here's The Latest

InsideEVs logo

Published on

Add as a preferred source on Google
Lucid's $50,000 Tesla Model Y Rival Is Getting Closer To Production. Here's The Latest

Lucid is on track to start producing the Cosmos crossover in the second half of 2027, the California EV startup said in its third quarter earnings call on Monday. The electric crossover will rival the Tesla Model Y and Rivian R2 when it goes on sale and is a "must-win" project for the company, according to new CEO Silvio Napoli.

This week, Lucid provided a few updates on the status of its most important model to date. Here's what we learned.

Lucid is a small player in the EV market, but it has big ambitions. Its third quarter sales plunged to only 3,806 vehicles. However, its January-to-September sales are up 33% thanks to more Gravity SUVs reaching customers. It is now trying to prove it can transition from a niche luxury EV maker into a profitable high-volume carmaker.

The upcoming midsize platform and the EVs that it will underpin is central to that strategy. And progress on the AMP-2 manufacturing plant where production will kick off is coming along, Napoli said.

“AMP-2 is moving towards inauguration and production readiness, and Midsize is now on track,” Napoli said. The company’s second manufacturing plant—and first international one—is located in King Abdullah Economic City, Jeddah, Saudi Arabia. The plant already assembles the Lucid Air sedan, which is also produced at its AMP-1 plant in Casa Grande, Arizona.

“Stamping line installation is complete, and commissioning is underway,” Napoli said. “Body shop installation is accelerating.



Source link
Related Topics:EV & Mobility

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.