New Electric Car Companies in 2024 and Beyond

Although Lucid might sound like a new company to some, it was founded way back in 2007 as Atevia, an electric powertrain supplier. The company was later renamed Lucid Motors, and under CEO (and ex-Tesla alum) Peter Rawlinson, developed the Air luxury sedan. Deliveries began at the end of 2021, and in 2022, 7,180 were produced, but only 4,369 were delivered to customers. 2023 was a slightly better year with 8,428 Airs produced and 6,001 delivered. This year is also on track to be slightly better for Lucid. Through the first half of the year, the company produced 3,838 Airs and delivered 4,361 to customers. The startup plans on producing 9,000 vehicles this year. But sales should expand thanks to two upcoming electric SUVs. 

Lucid last year unveiled its three-row SUV called the Gravity, and deliveries are slated to start at the end of 2024. The large SUV seats up to seven passengers, and certain versions will boast over 800 hp and provide a driving range of 440 miles, which is a lot for a sizable SUV. The Gravity’s starting price will likely be around $80,000. Lucid recently teased its upcoming midsize SUV that will likely be called the Earth. Information is minimal, but the SUV is projected to have a starting price under $50,000. Production won’t start until the end of 2026 and it will be built in the company’s manufacturing plant in Saudi Arabia (the country has invested heavily in Lucid). Lucid also has a plant in Arizona. 

The Air isn’t a sales phenomenon, but it’s an impressive EV that touts some class-leading numbers. The Grand Touring’s 512-mile driving range is currently the longest of any EV, and the Sapphire model generates an astounding 1,234 horsepower, making it one of the most powerful production vehicles in the world. It’s also shockingly fast — no pun intended — with a claimed 0-60 mph time of under 2 seconds. The 933-hp Dream Range Edition we tested hit 60 mph in just 2.8 seconds, that’s faster than a Lamborghini Huracan Evo AWD and McLaren 570S. But as we’ve seen with other EVs from startups, the Air doesn’t have the build quality you’d expect from a vehicle in its price range and its tech can be glitchy. 

Starting price for the Air: $71,400 (including destination)