Lucid announces midsize EV platform, says profitability lies with SUVs

Lucid's entry into the highly competitive, high-volume midsize SUV market will be key to achieving profitability, the company told investors today. And it's going to do that with a trio of electric SUVs that will use its new midsize EV platform, which it says has been engineered to deliver a starting price below $50,000.

"Today, we’re keeping the same Lucid product and technology DNA intact, while applying increased scale, capital efficiency, and cost discipline, and materially reduced costs...