Electric vehicle (EV) company — and Tesla rival — Lucid recently announced that it has begun customer deliveries of the Lucid Air Grand Touring — and that it will introduce a new version of Lucid Air, the Lucid Air Grand Touring Performance. Whether this bold business move will make a dent in Tesla’s fortunes remains to be seen.

                By                    Yaёl Bizouati-Kennedy

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The company said that with 1,050 horsepower, the dual-motor Lucid Air Grand Touring Performance will be the most powerful electric vehicle currently available in North America. The model provides an EPA-estimated driving range of 446 miles, “more than any other brands’ electric vehicles,” according to an announcement.

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It will have a starting price of $179,000 and customer deliveries in the U.S. are slated to begin in June 2022. In Canada, the Air Grand Touring Performance will be priced at $242,000 CAD (before taxes), with deliveries beginning in Aug. 2022, the company added.

According to CNBC, the new Air beats the highest-performing Tesla in most ways, but not in acceleration. Tesla’s Model S Plaid launched last year with 1,020-horsepower, an EPA-estimated range of 396 miles, a starting price just over $130,000 — and a claimed zero to 60 time of 1.99 seconds, CNBC said.

In March, Lucid’s reported earnings release, detailing both losses and a slashed production outlook due to “extraordinary supply chain and logistics challenges,” sent the stock tumbling.

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“On February 28, LCID cut 2022 production guidance from 20,000 units to 12,000-14,000, citing supply chain constraints and a focus on quality. Despite these concerns, we continue to view LCID as one of the best growth stories in the auto industry given the quality of the Lucid Air, its focus on the luxury market, strong balance sheet, and brand new factory in Arizona,” the note read, in part.