Lucid doesn’t look like an automaker guided by superstition, because it needs to seize the nameplate that introduced Fisker’s demise. “Lucid Ocean” might grow to be a brand new mannequin within the EV producer’s roster after it utilized for a Class 12 trademark with the USA Patent and Trademark Workplace (USPTO).
This trademark class is for “automobiles, gadgets, machines, and equipment for locomotion by land, air, or water.” The trademark submitting explicitly notes that it will be used to designate an “electrically powered vehicle,” it provides to the record of different potential future Lucid mannequin names, together with “Lucid Earth.”
Lucid’s third mannequin might be the Ocean
As soon as Lucid begins manufacturing of the Gravity SUV, it is going to shift a few of its focus to bringing out a extra reasonably priced sub-$50,000 EV to market, which might be known as the Lucid Ocean.
The appliance uncovered by Electrek, filed on Could 30, continues to be pending approval. On condition that the Ocean title has already been attributed to a different firm to designate an electrical automotive, Fisker should still have some rights to the title, and there’s a likelihood it is not going to be granted to Lucid.
After we discovered about the Lucid Earth trademark utility, we presumed that was going to be the title used for the producer’s upcoming, extra reasonably priced midsize mannequin. This new utility suggests Lucid hasn’t but selected the title or has plans to launch multiple mannequin. Maybe Lucid is creating two midsize fashions, a sedan and a crossover, with Ocean representing the previous and Earth representing the latter.
Lucid hasn’t mentioned a lot about its extra reasonably priced mannequin apart from confirming will probably be priced at “round $48,000” and that manufacturing is scheduled to start across the finish of 2026. The producer will first put its Gravity three-row SUV into manufacturing, which is scheduled to start earlier than the top of 2024.
The Gravity guarantees to be “the most effective SUV on the planet.” It can provide a Cadillac Escalade-level inside room and rival the Lamborghini Urus for driver enjoyment. Lucid boss Peter Rawlinson not too long ago highlighted these qualities of the SUV.
Lucid says it’s nonetheless not worthwhile (it misplaced a reported $2.8 billion in 2023), nevertheless it expects to interrupt even and switch a revenue by 2025. Till then, it could depend on continued monetary backing from the Saudi Public Funding Fund (PIF), which has invested a complete of $5.4 billion in Lucid and has a 60% stake within the automaker.
Fisker was searching for a dependable backer to maintain it afloat, however it didn’t discover one in time and ran out of cash. Nissan was reportedly and keen to contribute $400 million to assist Fisker pull via. Nonetheless, in the long run, that deal didn’t materialize after the Japanese automaker reportedly determined towards utilizing Fisker’s EV platform to underpin its electrical truck.
Some analysts say that the marketplace for costly luxurious electrical automobiles has seemingly grow to be saturated, and it’s tougher to promote such a automobile in at this time’s market situations. EV patrons are more and more fascinated with getting monetary deal, which is why so many automakers have slashed the costs of their automobiles. Lucid, as an example, dropped the worth of its most reasonably priced Air variant, the Air Pure, by over 10% in comparison with 2023, and now you can get one for $71,400.
So though Lucid needs to attract loads of consideration to its upcoming Gravity SUV within the hopes that the hype will materialize in gross sales, it’s nonetheless in the end not mainstream sufficient to be thought-about a real mass-market EV. That position must be fulfilled by the upcoming midsize mannequin, which maybe must be even cheaper than $48,000 to make sure Lucid’s success and continued existence in what seems to be a slowing EV market, at the very least in Europe and the US.
