Shares of Lucid Group were lower in early trading Thursday after the company launched a cheaper version of its Air electric luxury sedan in a bid to stoke demand.
Lucid said it will now offer a single-motor, rear-wheel-drive version of its Air Pure sedan starting at $77,400 with 410 miles of range.
That's $5,000 lower than its previous lowest-cost model, the dual-motor all-wheel-drive version of the Air Pure, which is still available.
The new single-motor Air Pure is available for order immediately, Lucid said.
The new rear-wheel-drive version of the Air Pure is the first Lucid offering to start below $80,000.
Persons:
Lucid, Lucid's
Organizations:
Group, stoke, Air, EV, Tesla
Locations:
Wednesday's, U.S