Bank of America Analyst predicts 50% gain in Lucid Air saying it is a Combo of ‘Tesla and Ferrari’

All-electric car fans can rejoice knowing there are more options for them in the market. The startup automobile manufacturer, Lucid Motors has recently beaten Tesla, the electric vehicle giant at having the best mileage in a single charge according to the EPA. The Lucid Air Dream Edition Range can go for 520 good miles, on one single full charge. 

The throne was previously taken by Tesla’s S Long Range Plus model, but at 100 fewer miles. CEO and CTO Peter Rawlinson, has said Lucid Motors is capable of beating Tesla at power, luxury, and price. Now that the Environment Protection Agency has officially given Lucid Air Dream the title for longest range in an electric vehicle, Tesla no longer holds the title it did before.

The company is said to introduce a base model of $77,400 in 2022, whereas the base price for the Lucid Air Dream edition right now is $169,000. The mileage on an electric car is different from a regularly fuelled vehicle, which depends on gas to run and can run so long as the tank is not empty. Meanwhile, an electric car has range, which is their capacity to run before they need to be plugged in for a recharge.

The California-based startup of electric vehicles Lucid Motors did not get lucky with new technology. But the current CEO of the company is a former Tesla engineer, who directly worked on the Tesla S model, the previous EV with the best mileage. Lucid Motors also recently went public in July 2020, collecting $4.5 billion in the capital.

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