Electric vehicle maker announces 'technology race' against Elon Musk's Tesla

The electric carmaker says customer deliveries of its Lucid Air Dream Edition — priced at $169,000 — will begin late this month

The Air Dream Edition received an Environmental Protection Agency (EPA) range of 520 miles, beating out Tesla’s Model S by more than 100 miles.

The CEO of electric vehicle startup Lucid says the company is ready to compete at the top of the EV market as it’s poised to start delivering luxury electric sedans to customers in late October.

California-based Lucid kicked off production of its previously delayed Lucid Air vehicles at its factory in Casa Grande, Ariz.,

The electric carmaker says customer deliveries of its Lucid Air Dream Edition — priced at $169,000 — will begin late this month, followed by less expensive models.

The Air Dream Edition received an Environmental Protection Agency (EPA) range of 520 miles, beating out Tesla’s Model S by more than 100 miles and making it the longest-rated EV.

While the Lucid Air Dream Edition is significantly more expensive than Tesla’s Model S, Lucid Motors CEO Peter Rawlinson plans to release the Air Pure with a price tag of $77,400 late next year.