LAS VEGAS and
NEWARK, Calif.,
Jan. 6,
2025 /PRNewswire/ -- Panasonic Energy Co., Ltd., a
global leader in the battery industry, and Lucid Group, Inc.
(NASDAQ: LCID), maker of the world's most advanced electric
vehicles, today announced the highly anticipated Lucid Gravity
Grand Touring will be powered by Panasonic Energy's lithium-ion EV
battery cells. With an EPA-estimated range of up to 450
miles1 from a battery pack that is up to 40 percent
smaller than competitors', the collaborative efforts between
Panasonic and Lucid have helped deliver an SUV with a previously
impossible combination of outstanding range, performance and
interior space.
Lucid Gravity is a groundbreaking new class of
SUV, conceived from the ground up without compromise. Enabled by
Lucid's revolutionary technology, Lucid Gravity provides the
interior space and practicality of a full-size SUV with up to 120
cubic feet of total usable cargo space2, all contained
inside the exterior footprint of a mid-size SUV. As a result, it
provides a sophisticated space for up to seven adults,
game-changing versatility, and an unparalleled driving experience.
The Lucid Gravity Grand Touring offers 828 horsepower, is capable
of 0-60 in under 3.5 seconds, and has an EPA-rated range of up to
450 miles.
These impressive features are enabled in part by
Panasonic Energy's latest-generation high performing 2170
cylindrical lithium-ion battery cells, which offer an energy
density of above 800Wh/L (watt-hours per liter), an
industry-leading achievement. These high-capacity cells were
realized through a closer working relationship with Lucid and are
designed to specifically meet Lucid's exceptional standards for
fast-charging, safety, longevity and performance. Lucid Gravity
will be one of the first vehicles to leverage this next-generation
cell at scale.
Panasonic Energy, a global leader in lithium-ion
batteries, is renowned for its high-quality and high-reliability
battery cells. By December 2023, the
company had supplied approximately 15 billion lithium-ion EV
batteries globally, equivalent to powering 3 million EVs, without
any vehicle recalls due to battery-attributed issues. This record
further emphasizes Panasonic Energy's unwavering commitment to
quality and safety. Panasonic and Lucid's collaboration on the
Lucid Gravity have further strengthened Lucid's industry-leading
powertrain system.
The partnership between Panasonic Energy and
Lucid was established through several multi-year agreements in
2022. Panasonic Energy's batteries have also been successfully
integrated into the award-winning Lucid Air Pure. This success has
prompted the adoption of Panasonic's advanced cylindrical
lithium-ion batteries in the Lucid Gravity models as well. The
Lucid Gravity Grand Touring, with a starting price of $94,9003, officially started
production in December 2024 at
Lucid's vertically integrated factory in Arizona. The Lucid Gravity Touring, which will
have a starting price of $79,900 and
is planned for late 2025, will also use Panasonic Energy's 2170
batteries. Panasonic Energy's 2170 battery cells, key to both
models, are produced in Japan,
with expected future production at Panasonic's new production
facility in Kansas.
"Lucid Gravity is truly the first SUV that does
not force customers to compromise," said Peter Rawlinson, CEO at Lucid. "It brings
together a previously impossible combination of attributes with the
interior space of a full-size SUV, the performance of a sports car
with supreme comfort, and an EPA rated range of up to 450
miles1. Through our advanced technology and
collaboration with Panasonic, we have achieved this with an
impressively small battery pack compared to competitors. This is
critical to preserving earth's precious resources and I look
forward to our continued work with Panasonic as we further
sustainable mobility for the benefit of all."
"We are extremely proud of our collaboration with
Lucid. By combining our high-performance, high-energy density cells
with Lucid's technology, we have been able to utilize the unique
characteristics of our cylindrical cells, resulting in a SUV with
unparalleled performance and range. This underscores our continued
efforts in aiming to set new standards in the EV industry and
contributing to a sustainable society," said Kazuo Tadanobu, CEO of
Panasonic Energy.
About Panasonic Energy
Panasonic Energy Co., Ltd., established in
April 2022 as part of the Panasonic
Group's switch to an operating company system, provides innovative
battery technology-based products and solutions globally. Through
its automotive lithium-ion batteries, storage battery systems and
dry batteries, the company brings safe, reliable, and convenient
power to a broad range of business areas, from mobility and social
infrastructure to medical and consumer products. Panasonic Energy
is committed to contributing to a society that realizes happiness
and environmental sustainability, and through its business
activities the Company aims to address societal issues while taking
the lead on environmental initiatives. For more details, please
visit https://www.panasonic.com/global/energy/
About Lucid Group
Lucid (NASDAQ: LCID) is a Silicon Valley-based technology
company focused on creating the most advanced EVs in the world. The
award-winning Lucid Air and new Lucid Gravity deliver
best-in-class performance, sophisticated design, expansive interior
space and unrivaled energy efficiency. Lucid assembles both
vehicles in its state-of-the-art, vertically integrated factory in
Arizona. Through its
industry-leading technology and innovations, Lucid is advancing the
state-of-the-art of EV technology for the benefit of all.
Media Contacts
media@lucidmotors.com
Forward-Looking Statements
This communication includes "forward-looking statements" within the
meaning of the "safe harbor" provisions of the United States
Private Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
"estimate," "plan," "project," "forecast," "intend," "will,"
"shall," "expect," "anticipate," "believe," "seek," "target,"
"continue," "could," "may," "might," "possible," "potential,"
"predict" or other similar expressions that predict or indicate
future events or trends or that are not statements of historical
matters. These forward-looking statements include, but are not
limited to, statements regarding plans and expectations with
respect to Lucid Gravity, including the timing for future trim and
its starting price, the promise of Lucid's partnership with
Panasonic, plans and expectations with respect to Panasonic's
battery cell production plans, and the promise of Lucid's
technology. These statements are based on various assumptions,
whether or not identified in this communication, and on the current
expectations of Lucid's management. These forward-looking
statements are not intended to serve as and must not be relied on
by any investor as, a guarantee, an assurance, or a definitive
statement of fact or probability. Actual events and circumstances
are difficult or impossible to predict and may differ from these
forward-looking statements. Many actual events and circumstances
are beyond the control of Lucid. These forward-looking statements
are subject to a number of risks and uncertainties, including those
factors discussed under the heading "Risk Factors" in Part II, Item
1A of Lucid's Quarterly Report on Form 10-Q for the quarter ended
September 30, 2024, as well as other
documents Lucid has filed or will file with the Securities and
Exchange Commission. If any of these risks materialize or Lucid's
assumptions prove incorrect, actual results could differ materially
from the results implied by these forward-looking statements. There
may be additional risks that Lucid currently does not know or that
Lucid currently believes are immaterial that could also cause
actual results to differ from those contained in the
forward-looking statements. In addition, forward-looking statements
reflect Lucid's expectations, plans or forecasts of future events
and views as of the date of this communication. Lucid anticipates
that subsequent events and developments will cause Lucid's
assessments to change. However, while Lucid may elect to update
these forward-looking statements at some point in the future, Lucid
specifically disclaims any obligation to do so. These
forward-looking statements should not be relied upon as
representing Lucid's assessments as of any date subsequent to the
date of this communication. Accordingly, undue reliance should not
be placed upon the forward-looking statements.
1. EPA est. range rating for Lucid Gravity Grand
Touring when equipped with 20"F/21"R wheels and configured as
2-row, 5-seat vehicle is 450 miles. EPA est. range ratings for
Lucid Gravity Touring will be provided when available. Range and
battery power vary with temperature, driving habits, charging and
battery condition and actual results will vary.
2. When configured as a 2-row, 5-seat
vehicle.
3. Excludes tax, title, license, options,
destination and other fees. For U.S. market only. [Vehicle shown
here with optional features]
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SOURCE Lucid Group
