• Lucid plans to reveal its upcoming midsize electric model in late 2025 or early 2026. 
• The company’s new interim CEO gave an update on the future model’s development on an earnings call on Tuesday. 
• Lucid’s midsize EV should cost around $50,000 and go into production by late 2026, the company has said.

The wait is almost over. We’ll finally get to see Lucid’s upcoming electric crossover in late 2025 or early 2026, the startup’s interim CEO said on Tuesday. 

“I was just down in the design studio, and I can tell you the vehicles look amazing. I think customers are going to love them, and I can’t wait to show them to you,” Marc Winterhoff said on Lucid’s fourth-quarter earnings call. “I don’t want to reveal too much, but we are currently planning to unveil them late this year or early next year.”

The EV company’s next act, cryptically called “Project Midsize,” will start production in late 2026, Lucid reaffirmed on Tuesday. The automaker has said that its new, more mass-market platform will serve as the basis for at least three unique vehicles. And, from the sound of it, Lucid plans to unveil more than one of them within the next 12 months or so. Until now, all Lucid has shown publicly are shadowy teaser images, like the one above. 

Winterhoff was COO and took charge of Lucid after Peter Rawlinson, the company’s longtime CTO and CEO, suddenly announced he was stepping aside on Tuesday. On his first earnings call as interim CEO, Winterhoff also gave some brief updates on where the midsize vehicles are in development. 

“We signed off on the advanced engineering phase of two of the midsize variants, which will now move to the development and industrialization phase,” he said. Winterhoff said Lucid’s lower-cost “Atlas” drive unit, which will propel the midsize vehicles, is “well under development.”

The midsize family of vehicles should cost less and have a broader appeal than the products Lucid has rolled out so far. The Air sedan starts at around $70,000, while the new Gravity SUV’s first available variant will run you around $95,000 and up. Lucid has said its upcoming midsize crossover would cost just under $50,000, but it’s not clear if that refers to all three vehicles or just one of them. 

The new models should be nice for customers who always wanted one of Lucid’s high-tech cars but couldn’t afford one. But they’re of make-or-break importance for the carmaker itself. The company loses money—some $3 billion in 2024—and the key to profits in the car business is scale. A mainstream electric crossover (or a trio of them) could do for Lucid what the Model Y did for Tesla. 

But for that to happen, these cars will need to be a hit. We should get a slightly better sense of that potential once Lucid unveils them.

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