Atieva renamed Lucid Motors, announces first concept

Atieva renamed Lucid Motors, announces first concept

California-based startup Atieva has re-named itself Lucid Motors. Funded by wealthy Chinese and Japanese investors, the company has announced plans to introduce its very first concept before the end of the year.

Lucid Motors was founded in 2007 by former Tesla and Oracle employees, and the company openly admits its first model will be aimed right at the Model S. Technical details are few and far between, but executives predict the car will boast at least 900 horsepower and about 300 miles of range thanks in part to an 87-kWh battery pack.

The sedan will allegedly hit 60 mph from a stop in less than three seconds — on par with Tesla’s oft-hyped ludicrous mode — and Autoblog has learned that it will feature semi-autonomous technology. Like virtually all over EV startups, Lucid Motors promises its car will usher in “a new era of luxury mobility.”

Lucid Motors believes it will begin building its first car in 2018, though where production will take place is up in the air at this point. The company predicts it will sell about 20,000 cars during its first year on the market, but it hopes to quickly reach a cruising speed of 130,000 units annually by expanding its lineup with additional models such as a crossover developed to fight against the Tesla X and the Audi e-tron.