Lucid Confirms New $48,000 Mid-Size SUV For Late 2026

Lucid’s CEO Peter Rawlinson confirmed in a call that the brand has another iron in the fire, or so to speak. Beginning in late 2026, it’ll begin production of a mid-size all-electric SUV at its AMP-2 facility. Perhaps the most interesting aspect of this vehicle is that it’ll start at under $50,000, he says. It could be the vehicle that elevates Lucid into the mainstream.

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The all-electric automaker has a lot going on right now. It’s just come off of a rough-looking quarter and plans to make just 9,000 cars this year. At the same time, it’s preparing to launch production of its first SUV, the all-electric Gravity, during the fourth quarter. In the midst of all that it’s preparing to launch this third vehicle in about two years.

Read: Lucid Keeps Burning Cash In Q1 Despite Shrinking Losses

Lucid didn’t give away too many details so we’ll have to wait on a name and specs but it did reveal the overarching plan. First, it’ll sit on a new mid-size platform that, in theory at least, could support more than one model. Second, it’ll be a volume product meant to go up against rivals like the Tesla Model Y Performance and Cadillac Lyriq. Third, it’ll start at “about $48,000” and is on “on schedule for production for late 2026”, according to Rawlinson.

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Rawlinson believes that it’s packaging and efficiency that will set it apart from its competition: “I’m confident that we can achieve unrivaled levels of efficiency for this crucial mid-sized class vehicle. And again, I can’t stress enough efficiency is the key to a smaller battery for any given range. And a smaller battery is a key element to lower cost when it comes to making an EV. I can’t wait to show you our mid-sized game changer”.

Notably, Lucid says that production of this mid-size platform will begin in Saudi Arabia. Its AMP-2 facility there is already gearing up for that production. At the same time, it’s worth mentioning that if it does build the car there that it wouldn’t qualify for EV tax breaks currently offered in the USA.

Could that change after the election in November? Sure, but without a guarantee, Lucid might have to offer incentives to make the car competitive with others that can benefit from a tax credit.

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H/T to Car&Driver