The electric vehicle startup Lucid Motors has a strategy for drumming up interest in its upcoming Lucid Air luxury vehicle that begins production late this year: ultra-designed retail spaces that offer virtual reality test drives.
Why it matters: The luxury EV market is getting more crowded. Startups like Silicon Valley-based Lucid — a largely unknown brand in what's still a very small market — need a way to differentiate themselves and gain cachet.
The company announced Thursday a "direct-to-consumer" model with planned retail spaces that will "enable customers to experience the brand and its products in locations that underscore its unique design aesthetic."
- Lucid is also one of several EV players eschewing the traditional dealership model of sales.
- The company — which is staked with $1 billion from Saudi Arabia's sovereign wealth fund — plans to unveil the production version of the car and pricing next month in New York.
What's next: Lucid has one customer studio open in Silicon Valley and plans to open eight more this year in New York, Florida and California.
- More service centers and studios are slated to open in 2021 in those states as well as Washington, D.C., Chicago and Europe, the company said.
- The announcements yesterday also touched on other parts of its strategy, like having a fleet of mobile service vans to provide roadside assistance.
