Lucid Air Earns Third Consecutive Award as Best Luxury EV

The Lucid Air has won the U.S. News & World Report’s Best Luxury Electric Car award for the third consecutive time. Launched in 2021, Lucid Motors (NASDAQ: LCID)’s Lucid Air is a four-door luxury sedan designed to compete with premium cars such as the Porsche Taycan and Tesla Model S as well as electric offerings from BMW, Mercedes-Benz and BMW.

The Lucid Air was a hit with critics as soon as it hit the market and soon attracted the title of best luxury electric car against competitors such as Tesla and Porsche. With the luxury electric car snagging the title two more times since its launch, it is clear that the Lucid Air features enough superior performance, design, luxury and technology to rival offerings from much larger carmakers.

In 2023, the Lucid Air was also crowned World Luxury Car of the Year after a jury of 100 distinguished journalists from more than 30 countries voted in favor of the luxury sedan out of a pool of 16 cars.

Derek Jenkins, Lucid Group senior vice president of design and brand, said the award validated the startup’s goal of creating a completely new premium sedan experience. He noted that the Lucid Air provided “outstanding’ performance and range, superb interior design and a striking exterior.”

The Lucid Air was also awarded last year’s Disruptor Award for Powertrain by Newsweek, thanks to the next-generation technology it features. This is in addition to being listed as U.S. News’ Best Luxury Electric Vehicle and the Best Hybrid and Electric Car by World Report.

The California-based electric vehicle company previously reported that its electric vehicle shipments for the first quarter of the year surpassed its expectations.

Like every other player in the electric car space, Lucid instituted a price cut that fortunately stimulated demand for its offerings and caused the startup’s shares to jump by 4%. Increasing demand in the battery electric vehicle space, especially in China where massive government subsidies have encouraged the launch of hundreds of electric vehicle firms, forced major EV companies such as Tesla and BYD to cut prices in most major markets.

The global electric vehicle sector has also experienced depressed demand and reduced sales over the past several months, thanks to high vehicle prices, high interest rates and rising living costs. Even so, Lucid’s award shows that the company’s investment in the Lucid Air has resulted in a superior product.

Lucid recently released the Air Grand Touring 2024, the most recent iteration of the award-winning Lucid Air. The Air Grand Touring 2024 will have the longest range on Lucid’s lineup and is currently being optimized with several powertrain updates, said Lucid Motors’ CEO and CTO Peter Rawlinson.

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