Lucid Motors gains traction as former Tesla drivers seek alternatives

Lucid reports 50% of new EV orders from ex-Tesla owners amid backlash against Elon Musk and limited Tesla updates. Discover what’s driving the shift.

Lucid Motors is making notable gains in the electric vehicle market, reporting a sharp increase in orders from former Tesla owners. Over the past two months, 50% of Lucid’s new customers were Tesla converts, according to interim CEO Marc Winteroff in a Fox Business interview.

This shift isn’t just about seeking new technology. Many former Tesla loyalists are turning away from the brand amid growing controversy surrounding Elon Musk and a lack of new vehicle releases. With the upcoming launch of its new Gravity SUV and plans to double production in 2025, Lucid is stepping into the spotlight at the right moment.

The Gravity, expected to begin deliveries in April, is now available in its Grand Touring trim starting at $94,900, with a more affordable Touring version coming later this year. The model boasts an estimated range of around 440 miles (approximately 700 km), significantly more than Tesla’s Model X. Assembled entirely in Arizona—including batteries and e-motors—the vehicle is insulated from recent U.S. tariff increases.

Lucid is also looking beyond the U.S. market, with plans to expand into Europe and introduce a more affordable model by 2026. The company is adopting a direct sales and mobile service strategy similar to Tesla’s, opening its own studios to attract premium EV buyers. Meanwhile, Tesla is seeing an unprecedented loss of customers to rivals like Ford, Volkswagen, and Lucid, according to data from Edmunds.

A recent YouGov and Yahoo News poll indicated that 67% of Americans no longer consider buying a Tesla, with 55% expressing an unfavorable opinion of Elon Musk. Analysts expect this sentiment to be reflected in Tesla’s upcoming quarterly report, which some predict could be its weakest in two years.

While Tesla’s shares ended 2024 with a notable recovery, Lucid’s stock performance has been mixed. Following a leadership change and production expansion plans, investor sentiment began to shift—but the company still faces volatility.

Lucid is not yet a mass-market brand, but it's gaining momentum in the luxury EV segment. If the trend continues, Tesla may find itself losing ground not just with mainstream customers but with the tech-savvy early adopters who once defined its success.

Source: electrek.co