Lucid Group Stock Jumps After Lucid Air Officially EPA-Rated at 520 Miles of Range
Sep 17, 2021 By MarketDepth
Lucid Group, Inc. (NASDAQ: LCID) stock is up more than 8% after the developer electric vehicle (EV) technologies announced that the Lucid Air Dream Edition Range has received an official EPA rating of 520 miles of range. ¹ It is the longest-range electric vehicle ever rated by the EPA – delivering at least 100+ miles of additional range over its closest competitor, Tesla.
“I’m delighted that our Lucid Air Dream Edition Range has been officially accredited with a range of 520 miles by the EPA”Peter Rawlinson, CEO and CTO, Lucid Group
“I’m delighted that our Lucid Air Dream Edition Range has been officially accredited with a range of 520 miles by the EPA, a number I believe to be a new record for any EV. Crucially, this landmark has been achieved by Lucid’s world-leading in-house EV technology, not by simply installing an oversize battery pack,” said Peter Rawlinson, CEO and CTO, Lucid Group. “Our race-proven 900V battery and BMS technology, our miniaturized drive units, coupled with our Wunderbox technology endow Lucid Air with ultra-high efficiency, enabling it to travel more miles from less battery energy. The next generation EV has truly arrived!”
According to the Company one of the two distinct versions of the Lucid Air Dream Edition, the Dream Edition Range embodies Lucid’s exacting focus on maximizing efficiency, achieving 520 miles of range while still delivering 933 horsepower. It sits alongside the 1,111 horsepower Lucid Air Dream Edition Performance and the 800 horsepower Grand Touring versions, which have also now received their official EPA range ratings.
¹ EPA estimated ranges are meant to be a general guideline for consumers when comparing vehicles.