Lucid is considering the possibility of selling its cars in China but has not set a specific timeline for entering the world’s largest electric car market, according to a senior executive interviewed by CNBC. This development follows the recent hiring of Zhu Jiang, a former executive from the Chinese electric car start-up Nio, by Lucid. Eric Bach, the Chief Engineer at Lucid, emphasized the importance of the Chinese market, which is not only the world’s largest car market but also rapidly adopting electric vehicles. He mentioned that Lucid is exploring this opportunity but is being cautious, as entering China requires careful planning to avoid potential mistakes.
- Lucid is considering entering the Chinese electric car market but has not set a specific timeline for its debut, according to a senior executive interviewed by CNBC.
- This development follows Lucid’s appointment of Zhu Jiang, a former executive from the Chinese electric car start-up Nio.
- Additionally, Lucid has confirmed plans to potentially reveal a mid-sized car by 2026 and expressed ambitions to expand into the mass-market segment in the future.
Bach highlighted Lucid’s expansion efforts, including expanding factory space in Arizona and launching an SUV named Gravity. However, he acknowledged the need to assess the company’s capacity for growth amidst these developments. If Lucid decides to enter China, it will face strong competition from both domestic Chinese companies like BYD and Nio, as well as U.S. giant Tesla. Bach stressed the importance of getting the entry strategy right, as making mistakes in the Chinese market could be costly.
Regarding Lucid’s product lineup, Bach mentioned plans for a mid-sized car to be unveiled in 2026, signaling the company’s intention to enter the mass-market segment with vehicles priced around $20,000. However, he acknowledged that achieving this goal would require time and building a robust supply base to achieve competitive pricing.