Joann Muller / Axios »

Americans are warming up to the idea of electric cars, but the purchase price is still too high for many people, who also worry about how far their car will go before the battery needs recharging.

  • The $169,000 Lucid Air Dream, while financially out of reach for most people, has an unprecedented 520-mile driving range — efficiency that can be carried over to lower-priced models.
  • “The biggest challenge I’ve always faced was getting money, not going bankrupt, having that investment as a startup to develop this,” Rawlinson said, pointing to Lucid’s debut model.
  • “Start with this, but my passion: get this down from $169,000 to under $70,000 by the end of next year.”
  • “Efficiency’s the key, and our technology will drive down the (battery) pack size in this car. And driving the pack size will drive down the cost. And that’s where we get to a $25,000 car. And I think that could come three to four years from now.”

But it likely won’t be a $25,000 Lucid, Rawlinson also tells Axios. Instead, it will be other brands, selling high-volume models with smaller, cheaper battery packs based on Lucid’s efficiency breakthroughs.