Lucid Air Midnight Dream Edition.
wide awake
Munich – wide awake The company is exploring selling cars in China, but has no timeline for entering the world’s largest electric vehicle market, an executive told CNBC.
Before that, Lucid hired Zhu Jiang, a former executive at a Chinese EV startup. Nioh.
Eric Bach, chief engineer at Lucid, said: “Every automaker has to study China deeply or has studied China. It is the largest car market in the world. As we see it, it may well become the largest And the market with the fastest adoption of electric vehicles,” he told CNBC on Tuesday at the IAA Motor Show in Munich, Germany.
“It’s something we’re exploring, something we’re investing in.”
If you enter China on the wrong terms, you can make a lot of mistakes.
Eric Bach
Lucid Chief Engineer
Bach said the company has quadrupled the size of its factory in Arizona. It’s also launching an SUV called Gravity. As a result, Bach said, “there’s pressure on the system,” so Lucid needs to see how much pressure it can handle now.
Exploring China’s electric vehicle sector
If Lucid does expand to China, the American company will enter one of the most competitive electric vehicle markets in the world. Lucid will compete with a host of local Chinese players including BYD, Nio and US giant Tesla.
“We haven’t given a date to enter the market yet because we just have to be ready,” he added. “If you go into China on the wrong terms, you can make a lot of mistakes,” he added.
Bach said there is a team in China exploring the possibility of entering the market.
“We need to hone in on, how are we going to go in? What’s our pricing strategy? What’s our manufacturing strategy?” Bach said.
“So we’re looking at all the things we should do as a young manufacturer and we’re going to get it right.”
Clear mass market car front
But the company is now considering expanding its offerings into lower-priced categories.
Bach confirmed that a mid-size car could arrive in 2026. He added that the company will eventually enter the mass market, where cars cost about $20,000.
But it will take some time, Bach admits.
“In order to build economies of scale and the ability to achieve these price points, you need to have a very strong and capable supply base that gives you the right pricing,” the chief engineer said.
“So, that’s where we start from the top down so that we can build trust, earn that trust, build the network, build our logistics system and then ultimately get the revenue from a medium-sized vehicle of this size to fund the investment in mass market production.”
Svlook
