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“We both obsessed about reaching for the stars with technology and engineering-and it just can’t be good enough,” he recalls. “We got on like a house on fire for most of the time I was there-not at the very end. Musk is famously tough to work for, but Rawlinson has mainly positive memories of his Tesla days.
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He got to Tesla in 2009, when it was emerging from garage startup status and was promoted to vice president and chief engineer for Model S in 2010. “You can almost do for an electric car company, and that is your EPA efficiency.” Usain Bolt, it’s a 9.69,” Rawlinson says. “If you’re a sprinter, what is your best time for the 100 meters? That’s your metric. He likens the mile/kwh efficiency ratings determined by the Environmental Protection Agency to world-class runners’ stats. He’ll happily spend hours discussing minute details of how Air achieves industry-best electric power train efficiency of 4.7 miles per kilowatt-hour of battery, about double Porsche’s electric Taycan (which costs up to $185,000) and even better than Tesla’s Model S and the smaller, lighter Model 3. I think I would say what a difference a year makes,” he says, without confirming a specific plan.Įducated at England’s prestigious Imperial College London, Rawlinson is a Jaguar veteran who also worked on advanced vehicles for Lotus and engineering consultancy Corus before joining Tesla. “That was the financier’s view, that was Wall Street's view of SPACs, not so long ago. Though he’d previously considered SPAC a “dirty word,” that’s changed. But making cars is expensive, and Rawlinson knows he has to find even more money and is looking to list shares publicly, possibly via a SPAC. Pitchbook values the company at $15 billion. That’s on top of the $150 million the company had previously raised. The private Newark, California-based company is paying for Air’s development and production with a $1.3 billion investment in 2018 from Saudi Arabia’s Public Investment Fund. Further growth is expected with the 2023 introduction of an electric crossover, tentatively named Gravity, followed by even cheaper and smaller models to compete with Tesla's top-selling Model 3. Volume could top 25,000 units in 2022 as versions of Air priced at $77,000 arrive. Rawlinson wants to make at least 6,000 Airs at a new plant in Casa Grande, Arizona, this year, potentially generating $900 million of revenue. Ethan Pines for Forbesįor now, Lucid is starting at a measured pace.
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Lucid Air prototypes at the company's headquarters in Newark, California. states that are in a position to take matters into their own hands in terms of de-carbonization of the fleet.” “Watch for California to move in this direction rather quickly, influencing a significant number of other U.S. “At more than 50% EV penetration, Norway is 15 years ahead of the rest of the world,” Jonas said. market for EVs and home to Lucid and Tesla, is ground zero for the increase and may become America's Norway for battery-powered cars.
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Morgan Stanley analyst Adam Jonas, a longtime Tesla bull, predicts electric vehicle sales could jump 50% globally in 2021. General Motors has already committed to making only electric vehicles by 2035, and Ford and Volkswagen also have aggressive plans to move away from fossil fuels. Biden has promised to build thousands of new public EV charging stations and federal tax incentives for EV purchases that were lapsing under Trump are expected to be revived. president has signed orders pushing the federal government to replace fossil-fuel vehicles with electrics, a government fleet totaling hundreds of thousands of cars and trucks. And the Biden Administration has made electric vehicles a priority.Īlready the new U.S. It’s part of a new wave of electric vehicles benefiting from cheaper lithium-ion batteries, expanding global supply for EV parts and rising consumer interest-all of which Tesla fostered. The elegant Air, with its sculpted aluminum body and distinctive “Micro Lens Array” headlamps, arrives at an inflection point.