LAS VEGAS and NEWARK, Calif., Jan. 6, 2025 -- Panasonic Energy Co., Ltd., a global leader in the battery industry, and Lucid Group, Inc. (NASDAQ: LCID), maker of the world's most advanced electric vehicles, today announced the highly anticipated Lucid Gravity Grand Touring will be powered by Panasonic Energy's lithium-ion EV battery cells. With an EPA-estimated range of up to 450 miles1 from a battery pack that is up to 40 percent smaller than competitors', the collaborative efforts between Panasonic and Lucid have helped deliver an SUV with a previously impossible combination of outstanding range, performance and interior space.
Lucid Gravity is a groundbreaking new class of SUV, conceived from the ground up without compromise. Enabled by Lucid's revolutionary technology, Lucid Gravity provides the interior space and practicality of a full-size SUV with up to 120 cubic feet of total usable cargo space2, all contained inside the exterior footprint of a mid-size SUV. As a result, it provides a sophisticated space for up to seven adults, game-changing versatility, and an unparalleled driving experience. The Lucid Gravity Grand Touring offers 828 horsepower, is capable of 0-60 in under 3.5 seconds, and has an EPA-rated range of up to 450 miles.
These impressive features are enabled in part by Panasonic Energy's latest-generation high performing 2170 cylindrical lithium-ion battery cells, which offer an energy density of above 800Wh/L (watt-hours per liter), an industry-leading achievement. These high-capacity cells were realized through a closer working relationship with Lucid and are designed to specifically meet Lucid's exceptional standards for fast-charging, safety, longevity and performance. Lucid Gravity will be one of the first vehicles to leverage this next-generation cell at scale.
Panasonic Energy, a global leader in lithium-ion batteries, is renowned for its high-quality and high-reliability battery cells. By December 2023, the company had supplied approximately 15 billion lithium-ion EV batteries globally, equivalent to powering 3 million EVs, without any vehicle recalls due to battery-attributed issues. This record further emphasizes Panasonic Energy's unwavering commitment to quality and safety. Panasonic and Lucid's collaboration on the Lucid Gravity have further strengthened Lucid's industry-leading powertrain system.
The partnership between Panasonic Energy and Lucid was established through several multi-year agreements in 2022. Panasonic Energy's batteries have also been successfully integrated into the award-winning Lucid Air Pure. This success has prompted the adoption of Panasonic's advanced cylindrical lithium-ion batteries in the Lucid Gravity models as well. The Lucid Gravity Grand Touring, with a starting price of $94,9003, officially started production in December 2024 at Lucid's vertically integrated factory in Arizona. The Lucid Gravity Touring, which will have a starting price of $79,900 and is planned for late 2025, will also use Panasonic Energy's 2170 batteries. Panasonic Energy's 2170 battery cells, key to both models, are produced in Japan, with expected future production at Panasonic's new production facility in Kansas.
"Lucid Gravity is truly the first SUV that does not force customers to compromise," said Peter Rawlinson, CEO at Lucid. "It brings together a previously impossible combination of attributes with the interior space of a full-size SUV, the performance of a sports car with supreme comfort, and an EPA rated range of up to 450 miles1. Through our advanced technology and collaboration with Panasonic, we have achieved this with an impressively small battery pack compared to competitors. This is critical to preserving earth's precious resources and I look forward to our continued work with Panasonic as we further sustainable mobility for the benefit of all."
"We are extremely proud of our collaboration with Lucid. By combining our high-performance, high-energy density cells with Lucid's technology, we have been able to utilize the unique characteristics of our cylindrical cells, resulting in a SUV with unparalleled performance and range. This underscores our continued efforts in aiming to set new standards in the EV industry and contributing to a sustainable society," said Kazuo Tadanobu, CEO of Panasonic Energy.
About Panasonic Energy
Panasonic Energy Co., Ltd., established in April 2022 as part of the Panasonic Group's switch to an operating company system, provides innovative battery technology-based products and solutions globally. Through its automotive lithium-ion batteries, storage battery systems and dry batteries, the company brings safe, reliable, and convenient power to a broad range of business areas, from mobility and social infrastructure to medical and consumer products. Panasonic Energy is committed to contributing to a society that realizes happiness and environmental sustainability, and through its business activities the Company aims to address societal issues while taking the lead on environmental initiatives. For more details, please visit https://www.panasonic.com/global/energy/
About Lucid Group
Lucid (NASDAQ: LCID) is a Silicon Valley-based technology company focused on creating the most advanced EVs in the world. The award-winning Lucid Air and new Lucid Gravity deliver best-in-class performance, sophisticated design, expansive interior space and unrivaled energy efficiency. Lucid assembles both vehicles in its state-of-the-art, vertically integrated factory in Arizona. Through its industry-leading technology and innovations, Lucid is advancing the state-of-the-art of EV technology for the benefit of all.
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