According to CNBC, on September 5th local time, Eric Bach, the chief engineer of Lucid, a US electric vehicle manufacturer, told CNBC in an interview at the IAA Auto Show held in Munich, Germany that the company is exploring selling electric vehicles in China, but has not yet determined when to enter the Chinese market.

　　Every car manufacturer must or has conducted in-depth research on the Chinese market. China is the world's largest automotive market. From what we see, China is likely to become the world's largest and fastest growing electric vehicle market, "Bach said in an interview with CNBC. This is the field we are exploring and investing in

　　Bach pointed out that Lucid's factory area in Arizona, USA has expanded fourfold. In addition, the company is also preparing to launch an electric SUV called Gravity. Therefore, Bach pointed out that "the system is under a lot of pressure," so Lucid needs to see how much it can handle now.

　　If Lucid enters the Chinese market, it means it will enter one of the most fiercely competitive electric vehicle markets in the world. Lucid will compete with numerous car manufacturers such as BYD, NIO, and Tesla.

　　Bach added, "We have not yet determined the time to enter the Chinese market because we need to do better. If you enter the Chinese market in the wrong way, you may make many mistakes

　　Bach also stated that we have a team exploring the feasibility of entering the Chinese market on site in China. We need to adjust and understand how to enter the Chinese market? What is the pricing strategy? What is the production strategy? As a young manufacturer, we are researching everything we should do, and we will do it well in the future

　　Image source: Lucid

　　Currently, Lucid positions itself as a luxury electric vehicle brand. In March of this year, due to sluggish demand, Lucid laid off approximately 18% of its employees. Lucid's revenue increased significantly in the second quarter and its net loss expanded. Lucid delivered 1404 Air sedans in the second quarter, lower than Wall Street's expectations.

　　At the IAA Auto Show, Lucid showcased the Air Midnight Dream Edition (a limited edition version of the Air electric sedan), using high-end materials and even equipped with seats for back massage.

　　But Lucid is currently considering expanding its products to lower priced sub markets. Bach confirmed that Lucid may launch a mid size car in 2026. He added that Lucid will eventually enter the mass market, which is the automotive market priced around $20000. But Bach also acknowledges that this will take some time.

　　Bach pointed out, "In order to establish economies of scale and the ability to achieve these price points, you need a very strong and capable supply base that can provide you with appropriate pricing

　　Therefore, we need to work from top to bottom in order to build trust, win trust, establish networks, establish our logistics system, and then obtain this scale and revenue from medium-sized vehicles, ultimately providing funding for investment in mass market production