Electric car market is cooling down from ‘a temporary crash’
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Lucid CEO Peter Rawlinson believes the future is electric.
Rawlinson told The Verge at the 2024 Monterey Car Week in California that “I think we’re seeing a temporary setback. I think any talk about reduction into hybrids is a dead end. I think hybrids have the worst results.”
Rawlinson’s comments were made a few days ago. Ford cars killed his electric three-row SUV. and the automaker is shifting its electrification strategy toward more hybrid vehicles.
In May, the California New Car Dealers Association released its first-quarter 2024 sales figures. While overall Electric vehicle market share declines in California, Electric vehicle sales themselves have increased. The reason is that new car registrations are up overall, with more non-electric cars being sold. Electric car sales are growing by volume.
Dealers today have more electric vehicle options for consumers than ever before, but Rawlinson notes that unimpressive options. This view is also shared by Derek Jenkins, Lucid’s director of design and branding.
Lucid has created a significant advantage over the competition in EV efficiency. The 2025 Lucid Air Pure is most efficient cars sold in the usa with a rating of 146 MPGe, which equates to 5.0 miles per kilowatt hour. In early August, Rawlinson noted in a LinkedIn post that it would It took years for competitors to catch up.. Competitors are slowing down and shifting their electrification plans.
The startup automaker’s second model, the Gravity SUV, is due in 2023, and pre-production units began rolling off the assembly line in July. Green Car Reports driving a Gravity prototype in May and noted when it launches later this year, it could challenge other segments in terms of packaging, design and performance.
A mid-size crossover SUV is in development and has been teased by Lucid. Potential competitor to Tesla Model Y is called the “Mid-Size Project” and is said to launch after the Gravity SUV.