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Automobile manufacturer Lucid’s Air Dream R AWD currently has the longest range among electric vehicles (EVs). According to a StockApps.com analysis, the model has a range of 520 miles (about 832 km). That beats Tesla’s longest-range model by over 100 miles.
Again the Air Dream R AWD beats Tesla’s Model S in energy efficiency terms. The Newark-based automaker’s models have a 118 kWh battery that offers a range of 4.4 miles per kWh. On the flip side, a Tesla with a 100 kWh battery allows for about 4.1 miles per kWh. The 0.3 difference in miles works to significant savings on power when you factor in electricity costs.
StockApps’ Edith Reads believes that Lucid is laying the ground for taking on Tesla. She says, “EVs are making strides as viable alternatives to gas-powered cars. But there’s one area where they still lag: range. The more efficient the EV can be, the less limited its range and the more attractive it becomes as an alternative to gasoline-powered vehicles. Lucid is aware of this and is taking a stab on the EV market with efficiency as its selling point.”
A New Benchmark for the EV Market
Lucid’s other EV, the Lucid Air G Touring AWD, followed in second place with 516 miles. Bordrin iEV7 took the third position with an estimated range of 438 miles. The Nanjing-based company shut down early last year, just five years after its establishment.
Taiwanese carmaker Arcfox’s aT 653S and LVCHI’s Venere Gran Turismo luxury limousine followed the Bordrin iEV7. Both models had a range of 408 miles. Thunder Power’s TP488C took sixth place with a range of 406 miles. Meanwhile, Tesla placed seventh ahead of Mercedes’ EQS 450 Plus.
Lucid’s achievement may not be enough to dethrone Tesla from its coveted position as the most popular luxury electric carmaker. But it could help drive innovation in energy storage technology and potentially trigger a wave of new startups focused on R&D in energy storage. That’s an area currently dominated by old players like Panasonic, LG Chem, and BYD.
Tesla and Lucid Motors Battle
When Peter Rawlinson took over as Lucid CEO, he delivered the Lucid Air to excellent reviews. It became the first all-electric vehicle with over 500 miles of range. However, its successes haven’t impressed Tesla CEO Elon Musk, who often welcomes new EVs on the market.
Tesla’s CEO said that a 500-mile range is not important. He later remarked that Tesla could have made a 600-mile-range electric car a year ago, before Lucid, but it “would’ve made the product worse,” in his opinion.At the moment, Lucid’s is still working on its financial success. Last year Tesla’s net income leaped more than sixfold to $5.5 billion. On the other hand, Lucid went public in July of 2021 to report a net loss of almost $3 billion for the year.
Edith is a fintech expert and a trader with over 10 years of industry experience. She is knowledgeable about blockchain, NFTs, Cryptocurrencies, and stocks - all from an informed perspective that will help you make better decisions when it comes time to invest your money.