Lucid Hops on the EV Price-Cutting Bandwagon

• Lucid Motors slashes prices for several versions of the Air sedan by as much as $12,550, with the most affordable version now stickered at $83,900.

• The Lucid Air has been in production for almost two years, with the automaker having focused on building the more expensive versions first.

• An even more affordable variant of the Air sedan is on the way next month, expected to start below $80,000.

It wasn't long ago that the least expensive Lucid Air sedan was well north of the starting price of the Tesla Model S, as Lucid focused its early production efforts on the most expensive launch editions. Now that the rest of the model range has largely materialized, the Lucid Air is finally becoming more affordable, relatively speaking.

The EV startup has already slashed prices earlier in the year, amid murmurs of slowing demand for most if not all EV makers. And it is cutting prices this month again, bringing the starting price of the Lucid Air below the $85,000 mark.

Just how affordable are versions of Lucid's sole electric model at the moment?

The dual-motor Lucid Air Pure, featuring a 410-mile range, now starts at $83,900, with Lucid having sliced $5150 off its starting price.

The Air Touring, meanwhile, has seen a $12,550 price cut, and now starts at $96,500, featuring a 625-mile range and a 620-hp output thanks to its two motors.

The Air Grand Touring has dropped by $12,550 as well and now starts at $127,100, offering a 1050-hp output and 516 miles of range, according to the EPA.

The Grand Touring Performance gets to 60 mph in 2.6 seconds.

Note the two-tone effect on the paint job.

Power output is 1050 hp.

Range in this trim is 446 miles, but you can sacrifice performance and get 516 miles.

This is the very car that The Stig drove up the hill at Goodwood just weeks ago.

The “integrated power units” combine a permanent magnet electric motor, inverter, integrated transmission, and the cutest little differential you’ve ever seen in what can only be described as a miracle of packaging efficiency.

Aerodynamics are peak.

Badging on the Performance model is subtle; this and the five-spoke wheels differentiate it from the mere Grand Touring.

The all-aluminum chassis.

An “integrated power unit.”

All badging is subtle.

The Stig himself!

Raised wood grain is a nice touch.

Bilstein shocks make all the difference.

There are three drive modes: smooth, swift, and sprint.

White on white.

Do you like this particular corner of the Lucid Air?

At launch...

...halfway through launch...

...and most of the way through launch.

The models with more spokes are the Grand Tourings.

Underway.

“Integrated power unit.”

Just the power, please.

Battery packs are made up of 21700 cells

The Performance model stickers for $179,000.

The non-Performance model is $154,000. Available now.

Silicon Valley USA

These are big price cuts, to be sure. But will they actually motivate buyers who weren't already considering one to suddenly order the Lucid Air?

We suspect that serious shoppers of electric sedans in six-figure territory or slightly below it could probably afford just about any version of the sedan, and might not be all that swayed by price cuts to run out and buy one. Likewise, not that many who were out of that price range entirely will suddenly find themselves able to afford one, we would imagine.

If there is a truly base model on the horizon, it will be the rear-wheel-drive Lucid Air Pure, set to start arriving next month. Lucid has not yet confirmed its starting price, though it's expected to land south of the $80,000 mark.

By comparison, the most affordable Tesla Model S is the Dual Motor version, which now starts at $89,880, offering a 405-mile range. The tri-motor Model S Plaid, meanwhile, starts at $109,880, serving up 1020 horsepower and a range of 396 miles.

Of course, it has been a while since Model S was Tesla's top seller. The decade-old sedan, which had unexpectedly received a yoke steering a couple of years ago, currently accounts for a small percentage of Tesla's total sales, alongside the equally pricey Model X.

Tesla models have seen a roller-coaster ride of price changes over the year—sometimes quite drastic ones—as Tesla has shifted prices by four or even five figures with no prior notice.

This has left some unlucky customers who had bought cars days or weeks prior to price drops seeking partial refunds—or at the very least quite mad online.

Lucid, meanwhile, is gearing up for production of its Gravity SUV now that quite a few people who were in the market for sedans have plenty of choice. But there's no shortage of competition in that segment either, with Mercedes and BMW continuing to fill out their EV lineups.

Will demand stay strong for pricey electric luxury sedans now that there are so many to choose from, or will buyers move on to other segments? Let us know what you think.