Hopeful Tesla competitor Lucid has revealed that its debut electric vehicle will carry a base price of just $60,000, or $52,500 after factoring in a $7,500 federal tax credit available to electric vehicle buyers.

Zak Edson, director of marketing at Lucid, said that after unveiling the Lucid Air sedan to the public in December, they realize that there are additional aspects of the company and the vehicle that could use further clarification.

The prototype they’ve shown publicly represents a well-optioned Air, a fact that has led to some confusion regarding the price range. Some, according to Edson, speculated that the car would start at over $100,000 but that simply isn’t accurate.

The base model is said to be well appointed and enjoyable to ride, offering up the following features:

  • 240-mile range
  • 400 horsepower (rear-wheel drive)
  • All hardware necessary for autonomous driving
  • Huge interior space in an efficient package
  • Two trunks, one in the front and one in the rear, with a combined storage capacity of over 32 cubic feet (similar to the volume of a 4-person hot tub)
  • 12-way power front seats
  • LED multi-lens array headlights
  • Four screens, with interactive-touch surfaces on three
  • 5-seat configuration with a rear bench seat
  • 10 advanced airbags
  • Aluminum roof
  • 19-inch wheels
  • 10-speaker audio system
  • Over-the-air software updates

Lucid will also offer a number of optional trim packages with additional features including:

  • 315-mile and 400-mile-range battery options
  • Up to 1,000-horsepower twin-motor configuration, with all-wheel drive
  • Fully active suspension, delivering a world-class ride
  • Glass-canopy roof
  • Rear executive seats that recline up to 55 degrees
  • 22-way power front seats with heating, ventilation, dynamic bolsters, and massage
  • 21-inch Lucid-design wheels
  • 29-speaker audio system with active noise cancellation
  • Expanded leather trim with corresponding material upgrades

Edson said a fully loaded Lucid Air will indeed command well above $100,000 although they aren’t yet ready to provide specific pricing.