Lucid Training Nearly 250 Robots To Build Gravity SUV, Says CEO Peter Rawlinson

EV maker Lucid Motors LCID is gearing up to start pre-production of its electric Gravity SUV this summer with a new automated line that has nearly 250 robots.

What Happened: The 247 robots at Lucid’s AMP 1 facility in Casa Grande, Arizona, are currently under training, Lucid CEO Peter Rawlinson said in a video shared on YouTube on Thursday.

“We’re training them to rivet and bond Gravity’s all-aluminum, state-of-the-art monocoque structure,” the company said. The production of pre-production Gravity SUVs will start this summer in a few weeks, the CEO added.

Gravity And Lucid’s Current Lineup: The Gravity SUV was unveiled in November and is expected to start under $80,000, a price point closer to Tesla's premium Model X SUV which now starts at about $77,990.

During the company’s first-quarter earnings call in May, the CEO said that Gravity, however, has a "significant opportunity" that the Model X did not capture. While the Model X is a bit car-like, the Gravity is a proper three-row SUV, he said.

The Gravity is on track to become the "world's best SUV," he then added.

Currently, Lucid’s Air sedan is its only vehicle in production. After Gravity, the company also intends to start production of a high volume, midsize vehicle in late 2026, which is expected to start at around $48,000, as a direct competitor to Tesla’s mass-market offerings Model 3 and Model Y.

Lucid's Financials: For the first quarter, Lucid reported a net loss of $680.9 million and a revenue of just $172.7 million. The company also accumulated a net loss of over $346,000 for every vehicle it delivered in the period.

However, as of the end of the first quarter, Lucid had total liquidity of about $5.03 billion, which the company expects will be enough to sustain it through the start of production of the Gravity SUV and into the second quarter of 2025.

Check out more of Benzinga’s Future Of Mobility coverage by following this link.

Read More: Elon Musk’s Tesla Sets Up New 24/7 Supercharger At Boca Chica To Lure SpaceX Starbase Visitors

Photo courtesy: Lucid

Market News and Data brought to you by Benzinga APIs
Posted In: NewsTechelectric vehiclesEVsLucid Gravitymobility
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!