EV Startup Targets 2018 Launch

Menlo Park, Calif.-based electric vehicle startup Atieva Inc. has changed its name to Lucid Motors Inc. and plans to launch an electric car in 2018.

The company, which was formed in 2007 by former Tesla and Oracle employees, aims to unveil a concept version of the upcoming EV by year-end. Last week it released teaser images of the unnamed vehicle.

Lucid says its car will be powered by an 87-kWh lithium-ion battery pack, which the company developed internally, with an estimated driving range of about 300 miles. The car’s electric motors are expected to generate 900 hp and propel the vehicle from zero to 60 mph in less than three seconds, according to the company.

About 90% of the car’s design has been completed, Lucid says. Features will include automated driving systems, smartphone integration, intuitive user interfaces and “natural” voice-enabled controls.

The company targets initial sales of 20,000 cars per year and hopes to eventually increase annual sales to 130,000 units with the addition of an electric crossover vehicle and other new models.

Lucid says it has received more than 50 patents for its battery technology and logged millions of miles of real-world testing. Earlier this year the company’s prototype Atieva Edna electric van (a modified version of the Mercedes-Benz Vito) beat a Tesla Model S and Ferrari California in a drag race staged by Lucid.

The company is partially funded by China’s Beijing Electric Vehicle Co. and Japanese trading house Mitsui & Co. Its leadership team includes Peter Rawlinson, chief technology officer, and Derek Jenkins, vice president of design. They previously worked for Tesla and Mazda, respectively.