Lucid Has Plans For Electric Pickup Truck And Tesla Model 3 Rival

That was revealed by the Lucid Investor Deck released with the company going public.

Lucid Investor Deck Holds A Treasure In Terms Of Information About The Company

Gustavo Henrique Ruffo

By: Gustavo Henrique Ruffo

Feb 24, 2021 at 12:59pm ET

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Lucid didn’t only tease Tesla and its other competitors with its Investor Deck. It also revealed exciting information about its plans, for example. Among its future vehicles, one of them stands out: a new electric pickup truck scheduled to hit the market in 2030, as the slide above reveals.

According to the document, Lucid will have six products by 2030: the Air, the SUV Gravity, a premium sedan, a premium SUV, a premium coupe, and the pickup truck. The company's production capacity will then be at around 500,000 units for a 4 percent market share in the US, which will be at around 15 million TAM (Total Addressable Market).

Lucid Investor Deck Holds A Treasure In Terms Of Information About The Company

The premium sedan, SUV, and coupe should have the same size, respectively, as the Model 3, Model Y, and Roadster. Since Lucid thinks Tesla is not a competitor, we could say they will compete with the Mercedes-Benz C Class, Audi Q5, and BMW 4-Series.

Sadly, the only information about the pickup truck is only in the slide above. Fortunately, it allows us to have a glimpse of how many units Lucid plans on selling by 2030 – not only of the pickup truck but of all its vehicles.

Lucid Investor Deck Holds A Treasure In Terms Of Information About The Company

In the Air segment, which will have around 2 million units, Lucid believes it will sell 40,000 sedans – or 2 percent of all vehicles sold. The Gravity should have a 1 percent share of a 3-million-car segment, which corresponds to 30,000 SUVs.

The premium sedan should conquer 4 percent of a 3 million unit market segment, good for 120,000 cars. In the largest market division – with about 7 million vehicles – Lucid wants its premium SUV to grab a 4-percent slice – or 280,000 EVs.

Lucid Investor Deck Holds A Treasure In Terms Of Information About The Company

The premium coupe will have the second-largest market share among Lucid’s products, with 5 percent of a segment that delivers about 1 million cars (50,000 units). The electric pickup truck will be the champion in that regard, with 7 percent of a market segment that would also sell around 1 million vehicles. That represents 70,000 pickup trucks. In 2020, about 2 million pickup trucks were sold in the US.

Add these numbers up, and you’ll see Lucid may reach 590,000 cars in 2030, but in a 17-million cars market if you sum the market segments.

Lucid Investor Deck Holds A Treasure In Terms Of Information About The Company

In this other slide, Lucid states how many vehicles it plans to sell until 2026 and how many units each market segment will represent. In 2022, it expects to deliver 20,000 cars, all of them Air units. In 2023, that number will almost double, at 49,000 vehicles, with 36,000 Airs and 12,000 Gravities. Yes, we know summing these numbers up does not result in 49,000 cars, but that’s because we are talking about estimations.

In 2024, 90,000 Lucid cars would be sold, with the Gravity leading the numbers with 49,000 cars. The company thinks the Air will sell 41,000 units. In 2025, the first new vehicles will emerge. They will help Lucid sell 135,000 EVs, but only 8,000 will correspond to these new cars: the Gravity will sell 86,000 units and the Air, 42,000. It seems Lucid believes that’s the highest sales number it will reach since it repeats it in 2026.

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In that year, Lucid believes it will be selling 251,000 EVs. The new vehicles will correspond to 75,000 units, while the Gravity will sell 134,000 units. It seems Lucid included here the new SUV it plans to sell. Otherwise, it makes no sense for the Gravity to sell only 30,000 units in a matter of only four years.

Another interesting piece of information on the latest slide is that Lucid expects to have a revenue of $22,756,000 by 2026. Compared to the $13,985,000 of revenue in 2025, the new vehicles Lucid is planning will have quite an impact on volumes and profitability.

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