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Tesla faces yet another price war as EV company Lucid is slashing its sticker costs: '[It's] a great deal for what it is'

"The lines get a bit blurry."

EV company Lucid is slashing its sticker costs, Price war with Tesla

Photo Credit: iStock

Electric vehicle prices have been dropping this year. 

Although the most highly publicized price reductions have come from Tesla, good news for consumers abounds in all corners of the EV market. Some of the latest was that EV startup Lucid cut the prices of three of its sedans. The Drive reported in early August about price drops between $5,000 and $12,400, and the Lucid website subsequently reflected even greater discounts.

California-based Lucid cut the price of the Lucid Air Touring from $108,975 to $96,575, per The Drive, and then to $95,000 (an apparent $13,975 drop overall), as of mid-August. The Lucid Air Grand Touring went from $139,575 to $127,175 then $125,600 (also a $13,975 drop overall), and the Lucid Air Pure from $88,875 to $83,875 to $82,400 (a $6,475 drop). 

The final price brought the Pure below the starting price of a Tesla Model S, which was $88,490 as of mid-August, according to the Tesla website and other sources (excluding special pricing and lower-range options). 

In terms of the specs, according to The Drive, the Lucid Air Pure consistently outperforms the Tesla Model S — the Lucid has a 410-mile range, while the Tesla has a 405-mile range (or so it claims). 

Beyond range, the Lucid can accelerate to 60 mph in 3.8 seconds, compared to the 3.1 seconds from Tesla, per The Drive.

In addition, the Lucid Air was recently named by the EPA as the car with the highest fuel efficiency on the market, scoring 140 miles per gallon equivalent (MPGe) alongside the Hyundai Ioniq 6.

So, while the prices are still quite high (and none of the Lucid models comes close to qualifying for the $7,500 EV tax credit, which applies only to cars that cost under $55,000), you do get a lot for your money.

"I paid 179k before fees and reg for my AIR GTp, and [I] still think it's a great deal for what it is, and I adore the company and its people," wrote one commenter on The Drive's coverage of the news. "Once you go over six figures for a car, the lines get a bit blurry in terms of value … still no regrets. The EV world is incredibly exciting."

"Their vehicles look really appealing," wrote another. "I hope the sales work and [keep] Lucid afloat."

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