Lucid Group Inc said on Tuesday it will start delivering its luxury electric sedans with a Tesla-beating driving range in late October, in a major challenge to the market leader whose sales of premium models have stagnated.
The California-based startup began production of its long-delayed Lucid Air cars at its Arizona factory on Tuesday. The company, founded in 2007, received funding from Saudi Arabia's Public Investment Fund in 2018 before going public via a shell company in July.
Lucid Group's CEO, Peter Rawlinson, who had overseen Tesla's Model S development before he left the company in 2012, faces tasks similar to those of Tesla in its early days, including how to address manufacturing challenges and scale up production.
