Lucid has taken the electric car industry by storm with the recent debut of the electric Air sedan. Thanks to its dual-motor setup generating a combined 1,080 horsepower, the range-topping model will do the quarter-mile in under ten seconds. It's also the fastest-charging EV capable with charge rates of up to 20 miles per minute and boasts the most spacious cabin in its class.

When you think of competitors, the Tesla Model S is probably the first car that comes to mind. After all, Lucid dropped a bombshell when it announced the entry-level Air starts at $69,900 with Federal Tax Credit, undercutting the Model S. Tesla responded by swiftly slashing the price of the Model S. However, Lucid doesn't see Tesla as a serious threat.

"I would say our main competitor is a car company; I highlight Mercedes Benz in terms of the attributes of Lucid Air. We're going after S-class Mercedes, but it's a natural comparison, and I accept that comparison with Tesla," Lucid CEO Peter Rawlinson told Yahoo Finance. Before becoming the CEO of Lucid Motors, Rawlinson was the chief engineer for the Tesla Model S.

While traditional carmakers are embracing electrification with upcoming luxury EV launches like the Mercedes EQS, Rawlinson doesn't think they are adapting to the changing auto industry fast enough. "The traditional automakers are just not rising, stepping up to the plate fast enough," he said. "That's really why Lucid's come onto the scene, to accelerate this process."

Based on the number of miles travelled per kilowatt hours, Rawlinson also claims the Lucid Air will be the most efficient EV on the market. "We're not seeing high levels of efficiency from these other automakers, Tesla's right up there. Lucid is surpassing Tesla," he said. "We're getting over 4 and a half miles per kilowatt hour. I'm not seeing anything close to that from these traditional automakers."

Before the entry-level Lucid Air arrives in 2022, the Lucid Air Dream Edition will go on sale in spring 2021 starting at $161,500, followed by the Air Grand Touring at $131,500 and the Air Touring at $87,500.