Lucid plans to sell imported cars in China or build new car factory

According to news on June 12, it was recently reported that Lucid, as an emerging American automaker, plans to expand into the Chinese market. It is reported that Lucid plans to sell imported cars in China and is considering establishing a car production base in China to bring new car factories to China.

According to the editor’s understanding, Lucid recently welcomed the former vice president of Jidu Automobile to join. He revealed Lucid’s plans for the Chinese auto market, including selling imported cars. and considering producing cars in China. According to reports, by producing locally in China, Lucid can reduce production costs and avoid shipping cars from the United States to the Chinese market. This is undoubtedly a beneficial development for Lucid, whose financial situation is somewhat tight. The move comes after the emerging automaker cut its 2023 production forecast and reported lower-than-expected revenue. CEO Peter Rawlinson Rawlinson said rising interest rates are one of the challenges facing the market today.

Foreign media believe that in order to succeed in the Chinese market, Lucid needs to launch competitive products and prices. At the same time, the company also needs to build a strong brand and dealer network. In China's electric vehicle market, the manufacturers that win will be those that can offer the best products, prices and customer experience.

Currently, China is the world’s largest new energy vehicle market. According to data released by Cui Dongshu, secretary-general of the Passenger Car Association, as of April 2023, global sales of generalized new energy vehicles have reached 5.92 million units, of which the Chinese market accounts for about 60%.

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