The Cheapest Lucid Air Now Costs Close to the Cheapest Tesla Model S

• Lucid Motors reveals its Air Pure RWD sedan with a single-motor layout and a 410-mile range, which becomes the entry-level model in the automaker's lineup.

• The electric sedan is priced well below competitors from Germany, but analogously to Tesla's least-expensive Model S dual-motor variant.

• Lucid Motors expects the Gravity SUV to enter production in 2024, giving it a second model line.

Lucid Motors kicked off production with the most expensive versions of the Air sedan in 2021, but after 24 months we're now getting to the most affordable variant of the sleek luxury electric sedan.

The company revealed the Air Pure RWD sedan this week, featuring a single-motor layout and offering a 410-mile range. With a price of $78,900, it's some $5000 cheaper than what has been the most affordable Air variant to date, albeit with a dual-motor layout.

The company, which has been buffeted by market pressures for much of the year amid concerns over shrinking demand, has said this model completes the Air lineup, which means we won't see other versions debut as it focuses on its coming SUV.

"I'm delighted that the most accessible Air surpasses the range of any other electric car from any other brand," said Peter Rawlinson, CEO and CTO of Lucid. "With a starting price of $77,400 [before $1500 destination costs], I believe that this new addition to the Lucid Air lineup is the car so many have been waiting for."