With speed and power, would the Lucid electric car be the equivalent of a Tesla car?

After facing numerous delays and setbacks in the production process, Lucid Motors showed off its Lucid Air sedan during a special event broadcast over the Internet on Wednesday, but the most important event was the second car announced by the American company.

Lucid revealed on Wednesday the project of its new all-electric SUV SUV, which bore the name Project Gravity.

At the end of the event, Lucid CEO Peter Rawlinson raised a black cloth to reveal a larger car compared to Lucid Air.

A quick video showed the SUV traveling toward the sunset with what looked like a rack on the roof as is common in outdoor adventure cars.

Compact SUVs are also hugely popular as ever with a long list of electric options to come in the next few years as Tesla's Model Y increases in popularity.

But Lucid has already shown its next car, and expectations say that the development of the second SUV car came at the request of the Saudi Public Investment Fund, which owns a stake in the American company, according to people familiar with the company's plans.

"This is just the beginning," Rawlinson said, hinting at a host of non-Air products to be released in the next 10 years.

Lucid Air model with 1080 horsepower in the two-engine model is considered one of the fastest electric cars (social networking sites)

Saudi money saves Lucid

Like many EV startups, Lucid Motors has had its ups and downs.

The Lucid Air was supposed to go into production in 2018, but the company had trouble getting the financing to build its planned $ 700 million plant in Arizona, right up until the Saudi Public Investment Fund.

Lucid Motors entered into two separate agreements in 2017 to help with the cash crunch, using its intellectual property as collateral for loans, and the company has since established its plant in Arizona.

Most of the media reports that Saudi Arabia has invested a billion dollars in Lucid Motors.

The company gave up majority ownership to the Saudi sovereign wealth fund in exchange for an investment of $ 1.3 billion last year.

However, it remains unclear exactly what type of voting rights the various shareholders possess in the company.

Saudi Arabia first announced the deal in September 2018, just weeks before the killing of Saudi journalist Jamal Khashoggi at his country's consulate in Istanbul.

Khashoggi's death caused an international uproar, forcing some companies to shy away from taking the kingdom's money.

But Lucid Motors has been in partnership with Saudi Arabia since then, although the deal was not officially approved by the US government's Committee for Foreign Investment in the United States until April 2019.

It is unclear whether linking to Saudi Arabia will help or harm sales.

But it is clear that Elon Musk's long history of controversial actions and data has not affected his company's financial success.

Lucid Air with standard specifications will go on sale for $ 80,000 and the first deliveries will start in the spring of 2021 (communication sites)

Lucid Air ... specifications and prices beyond the capacity of the majority

The standard-spec Lucid Air will cost $ 80,000, while the luxury model will cost $ 169,000, and the first deliveries will begin in the spring of 2021, so we don't have to wait that long before we see them on the road.

But bear in mind that you will have to wait until 2022 for a model worth $ 80,000, as the more expensive models come onto the market first.

Lucid Air competes directly with the likes of the Tesla Model S.

But the company aims at the luxury market.

According to Lucid, the Air model will get 1080 horsepower in the twin-engine model, and thanks to the 113 kWh battery pack, it is expected to have a mileage of 800 km for a single charge.

This gives it the longest range of any electric vehicle so far produced.

Lucid also says it will be the fastest electric car in the world, which will be a boon for long-distance travelers.

The company has not mentioned the exact technical details of how it achieved this, but it is almost certain that you will have to connect the air to a supercharger rated at at least 200 kW.

The passenger experience will be unique.

And while some new electric vehicles install Google's Android Automotive entertainment systems inside the car, Lucid has turned to Amazon, where it has integrated Alexa into the car.