Lucid is preparing a new electric vehicle set to sell for under US$50,000, directly positioning it against Tesla’s Model Y and Model 3. Following its high-end Air line of sedans and a three-row SUV, the company’s move to a more affordable offering signals a new chapter in the competitive EV market.
Lucid’s Tesla Model Y competitor to be priced below $50,000

Key Takeaways:
- Lucid is planning to launch an electric vehicle below US$50,000.
- The new model aims to compete with Tesla’s Model Y and Model 3.
- The midsize EV market is crowded but offers significant consumer interest.
- Lucid’s previous vehicles include the premium Air sedans and a three-row SUV.
- This shift suggests Lucid’s strategy to reach a broader market segment.
Lucid’s Downmarket Turn
After bringing luxury electric sedans and a three-row SUV with an impressive range to the market, Lucid is now turning its attention to a more affordable price point. The new model will be priced below US$50,000, a marked shift from the premium positioning of earlier vehicles. “Lucid is going downmarket,” the original report indicates, suggesting that this strategic move could expand the brand’s reach and resonate with a broader base of consumers seeking electric mobility.
Taking on Tesla in a Crowded Field
The sub-US$50,000 EV category is dominated by Tesla’s best-selling Model Y and Model 3. By targeting these models, Lucid hopes to carve out space in a rapidly expanding but highly competitive midsize market. This decision arrives at a time when more consumers are looking to switch to electric vehicles, and Lucid aims to attract those who prioritize both cost and performance.
What’s Next for Lucid
Lucid’s decision to step into a lower price segment may indicate a plan to leverage its existing technology and manufacturing expertise for a new audience. The company made headlines with its Air sedans, originally positioned as luxury performance EVs, and with its three-row SUV that boasts one of the longest ranges in its class. Offering an affordable option could give Lucid a foothold in the mainstream market, signaling the brand’s ambition to be a full-scale contender in the EV industry.