Lucid’s competitor to the Tesla Model Y is ready. What we know

Lucid is on track to begin producing the Cosmos crossover in the second half of 2027, the California-based electric vehicle startup said during its third-quarter earnings conference on Monday.

The electric crossover will compete with the Tesla Model Y and the Rivian R2 when it goes on sale, and it is a project the company “must absolutely win” according to new CEO Silvio Napoli. This week, Lucid provided some updates on the status of its most important model to date. Here’s what we learned.

Lucid Cosmos Factory Approaching ‘Production Readiness’

Lucid is a small player in the electric vehicle market, but it has big ambitions. Its sales in the third quarter dropped to just 3,806 vehicles. However, sales from January to September increased by 33% thanks to more Gravity SUVs delivered to customers. It is now trying to prove it can transition from a niche luxury manufacturer to a high-volume, profitable automaker.

Lucid Gravity GT-S

Photo by: Lucid Motors

The next mid-size platform and the electric vehicles it will support are central to this strategy. Progress on the AMP-2 manufacturing facility, where production will begin, is underway, said Napoli.

"AMP-2 is moving toward inauguration and readiness for production, and Midsize is now on track," said Napoli. The company’s second manufacturing facility—and its first international one—is located in King Abdullah Economic City, Jeddah, Saudi Arabia. The plant already assembles the Lucid Air sedan, which is also produced at its AMP-1 facility in Casa Grande, Arizona.

"The installation of the stamping line is complete and commissioning is underway," said Napoli. "The body shop installation is accelerating. The powertrain installation is progressing, and painting is now in the final stages with more equipment arriving at the site."

Photo Gallery: Lucid Air Grand Touring (2024)

The launch of the Cosmos was originally scheduled for the end of this year, but Napoli has pushed it back to 2027 as part of a broader turnaround plan. The company stated it won’t rush the new electric vehicle to market to avoid the same quality issues encountered with the Gravity and Air.

Final Prototyping Stage

Lucid also indicated that the Cosmos itself is nearing its final production form.

"The final prototyping phase is underway, including homologation and crash testing. The pilot production at Coolidge is entering its final stage, including the transfer of know-how to AMP-2," Napoli said on Monday. Apparent Cosmos prototypes have been spotted near Lucid’s facilities.

More Details on the Lucid Cosmos Coming Soon

Lucid stated this week that it plans to announce the timeline for revealing and starting production in the first quarter of next year.

We already know a lot about the Cosmos. It will start at around 50,000 euros. Napoli told CNN in August that it will have a range of over 640 kilometers. During its Investor Day in March, the company said it will use both nickel-manganese-cobalt (NMC) and lithium-iron-phosphate (LFP) batteries.

I also saw a prototype behind closed doors, and it looks like a mini version of the Gravity. Inside, a huge touchscreen spans the entire width of the dashboard. It will feature a more powerful centralized architecture that is less costly to build, along with an 800-volt platform. It will be powered by one of the industry’s most compact and high-energy-density motor units, called Atlas.

Interior of Lucid Cosmos

Photo by: Suvrat Kothari

The startup is also planning to deploy tens of thousands of robotaxi through its partnerships with Uber and Nuro in the United States and Bolt in Europe. These will include the Gravity (for the U.S.) as well as a mid-size electric vehicle (for both the U.S. and Europe). The company is also on track to launch the first Gravity SUVs in the Bay Area in the first quarter of 2027. (The original timeline was the end of 2026.)

To help make this all possible, the company announced it has received an additional $1.75 billion loan from Saudi Arabia’s Public Investment Fund, which is also its largest shareholder.

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