New Gravity SUV orders are expected to open with high expectations from Lucid.

• CEO Peter Rawlinson of Lucid Group believes that the upcoming Gravity SUV will help the automaker increase sales volumes and reduce losses, according to a report by CNBC.
• Since late 2021, the luxury EV manufacturer has been selling the Air sedan in small numbers, and the Gravity is its second vehicle.
• The Grand Touring, the first Gravity model, will be available for purchase on Lucid's website on November 7th at a retail price of $94,900.

According to CEO Peter Rawlinson, the electric vehicle startup is hoping that its upcoming Gravity SUV will help the company increase sales volumes and reduce losses.

Since late 2021, the luxury EV manufacturer has been selling the Air sedan in small numbers, and the Gravity is its second vehicle.

The Grand Touring, the first Gravity model to be ordered by customers, will be available on the carmaker's website starting November 7. It will retail at $94,900. Further models, including the entry-level Gravity Touring trim, are expected to launch late next year.

"Rawlinson stated on CNBC that he is very confident that our products will experience a significant increase in demand, with our complete product portfolio. He believes there is a 6-to-1 ratio for the SUV over sedan, which will put us in a strong position."

The Gravity over the Air's six-times sales multiplier would be significant for the company, which has faced challenges with market awareness and customer demand, falling short of Wall Street's expectations and its own initial expectations.

In the third quarter of this year, Lucid sold 7,142 Air sedans, surpassing its 6,000 vehicle sales in 2023.

The automaker, backed by Saudi Arabia's Public Investment Fund, anticipates that customer demand will initially exceed production as it increases output at its U.S. plant in Arizona.

Rawlinson declined to reveal when customer deliveries of the Gravity will commence, although Lucid anticipates starting serial production by the end of this year.

Rawlinson stated that the company is still in the process of finalizing federal crash testing, self-certification, and awaiting range testing from the Environmental Protection Agency and the California Air Resources Board.

Despite the decline in EV demand, Lucid's shares have been performing relatively well, closing at $2.52 per share on Monday, up less than 1%.

The Gravity SUV's customer ordering will commence on Nov. 7, which is also the date when Lucid will release its third-quarter results.

According to Lucid, the Gravity Grand Touring will have over 800 horsepower and a projected electric range of over 440 miles.