EV Startup Lucid Motors Opens Pre-Orders For Electric Sedan At Just $1,000

Lucid Motors, the electric vehicle startup that wants to take on Tesla for the best luxury EV crown, is making the initial cost to acquire their model much sweeter.

The reservation fee for Lucid Air goes down from $2,500 to $1,000, according to the Electrek. And that $1,000 deposit will grant interested buyers priority in acquiring the startup's first model.

In addition, reservation holders will also get invitations to special events and "exclusive opportunities to experience the car," but it wasn't specified if this means actually test driving the vehicle. The price for the Lucid Air is reported to be within the $60,000 to $100,000 range, and that $1,000 reservation will apply to whichever cost.

If reservation holders decide to pull back, the fee is fully refundable, and those who reserved the luxury EV back in 2017, when the model was introduced a year before, for its original cost can withdraw the $1,500 excess.

The Newark, California-based company claimed that the Lucid Air can last 400 miles (which is slightly ahead of Tesla's Model S with 379 miles) from its 100 kWh battery and that it has a top speed of 200 mph. Its acceleration is no joke either as it can get from zero to 60 mph in 2.5 seconds (about a tenth of a second faster than Model S).

But when it comes to autonomous vehicle functions, the Lucid Air may not be classified as fully autonomous or even an SAE level 3 just yet. Still, the startup is gearing up for that purpose, with each subsequent update to its software. The EV is equipped with eight cameras, four LIDAR sensors, and six radar modules.

Lucid Air was almost a castle in the air since a lack of funding stymied the startup from getting the luxury vehicle in the line of production. Thanks to a $1 billion investment from Saudi's sovereign wealth fund, Lucid Motors have the capital to kick off production and have broke ground recently for its factory in Arizona.

Now, interested future Lucid Air owners in the US and Canada can pre-order, and other buyers globally can join Lucid's "international interest" list.