Lucid Air base sedan targets Tesla Model S, with 406-mile range for $77,400

See Full Image Gallery >>

Lucid is going after the Tesla Model S with its base-model Air sedan, which will pack 406 miles of range on a single charge, with a starting price of $77,400 (or $69,900 after the $7,500 federal tax credit). With this announcement, Lucid's four initial models are locked in, offering total range between 406 and 517 miles and power output from 480 horses to 1,080. The base model will take the fight to Tesla's 402-mile, $72,000 Model S sedan.

When Lucid debuted its production-spec sedan back in September, it lead with its heavy hitters. But just because you can serve caviar doesn't mean you don't need bread and butter. The Lucid Dream, which is the marquee launch model, packs a 1,080-horsepower, dual-motor powertrain that will propel the 500-mile electric car to 60 MPH in under 2.5 seconds as it makes its way through the quarter-mile in just 9.9 seconds, making it the quickest four-door EV on the planet.

Like the rest of the Lucid Air's fundamental engineering, much of the powertrain is modular. The long-range, 113-kWh battery pack is made up of multiple units sitting under the rear bench; on shorter-range models, this number can be reduced and the pack space replaced with a new floor panel that allows more foot room. This plug-and-play approach gives Lucid a great deal of flexibility, which is how we go from a 1,080 horsepower, 500-mile model launch edition to a 480-horsepower, 406-mile entry-level model with relatively few discernible changes, plus a couple of variants in between.

Through early 2022, Lucid is aiming for a four-tiered strategy. The base Air sedan will compete with the meat of Tesla's Model S lineup. The Touring model will pack 620 horsepower and up to 406 miles of range; the Grand Touring will up that to 800 horsepower and the full 517 miles; at the top is the aforementioned Dream Edition, with all 1,080 ponies and either 465 or 503 miles of total range, depending on your wheel and tire choices. All range figures are preliminary and not verified by the EPA. Here's a breakdown of the full lineup:

Lucid will start building Dream models late this year, with the first deliveries scheduled to take place in early 2021. The rest of the lineup will follow in descending order of price, meaning the base model announced this week isn't expected to see the light of day until 2022, but you can reserve one right now for $300 if you'd like to raise your hand.