Tesla competitor Lucid plans to launch in Europe this year

On September 28, 2021, people test drive the Dream Edition P and Dream Edition R electric cars at the Lucid Motors factory in Casa Grande, Arizona.

Caitlin O’Hara | Reuters

Electric car manufacturer Sober It plans to start selling its cars in Europe this year.

This California-based company, Competing with Tesla, After the expansion was announced on Tuesday Twitter user asks If some of the images of the new Lucid owner are located in the UK

“This year will begin to expand into the European market. Please continue to pay attention to the delivery information of specific countries/regions,” cCompany tweeted In response.

Lucid did not immediately respond to CNBC’s request for more information.

Lucid’s first car was Known as the sky car. After starting commercial production at a new plant in Casa Grande, Arizona a month ago, it began delivering its $169,000 “Dream Edition” flagship car to customers at the end of October.The car has industry leading A range of 520 miles.

Like Tesla, Lucid is also working hard to develop self-driving technology to enable its cars to drive safely and autonomously.

Axel Schmidt, head of the automotive industry at the consulting firm Accenture, told CNBC on Wednesday that technology companies “underestimated all the challenges” when putting self-driving cars on the road.

He added that by 2030, 60% to 70% of new cars will have “level 2” autonomous driving capabilities. This means that cars will assist in steering, stay in the correct lane and control speed, but they will not be able to drive safely until they reach “level 5.”

European reservation

In January 2020, Lucid started taking Online booking Its flagship Lucid Air sedan is listed in 15 European countries, but the company has not specified when the vehicle will be delivered.

Locations include Austria, Belgium, Denmark, Finland, France, Germany, Iceland, Italy, Monaco, the Netherlands, Norway, Spain, Sweden, Switzerland and the United Kingdom.

The company was founded in 2007, led by former Tesla executive Peter Rawlinson (Peter Rawlinson), and listed on the SPAC transaction in July Valued at approximately US$24 billion.

That month, it told investors that it expects to produce 20,000 Lucid Air cars in 2022, generating more than $2.2 billion in revenue.

Beyond Ford

Four months later, Lucid’s Market value skyrocketed Ford After executives told investors that its first car reservations had increased and its 2022 production plan was still going on as planned, the company’s stock price reached 89.9 billion U.S. dollars. At the time, it stated that its Air sedans had more than 17,000 reservations, up from 13,000 in the third quarter.

However, Stock price plummeted Last month, when Lucid disclosed that the US Securities and Exchange Commission may investigate the company’s upcoming SPAC transaction, the company’s stock price rose about 20%.

Lucid said that although “the scope or outcome of this matter cannot be guaranteed, the investigation appears to involve a business combination between the car manufacturer and the blank check company Churchill Capital Corp. IV.”

Today, Lucid is valued at about 65 billion U.S. dollars, and its market value is still far below the soaring Tesla More than $1 trillion last year. RivianIt is an electric car startup that went public in November with a market value of approximately 91 billion U.S. dollars.

Additional reporting by CNBC’s Michael Wayland and Lora Kolodny.