Tesla is now the world's most valuable car company, and it is one of the very first startup car companies to actually make it into the mainstream of the car industry. Tesla is now no longer an outsider, but an industry leader and a trendsetter. Tesla has big plans for the future and also plans to grow itself into becoming the world's largest automaker.

Not surprisingly, then, there are scores of other new entrants into the electrical vehicle market trying to emulate the success of Tesla. New startups include Nikola, Canoo, Lordstown, and Rivian to name but a few. Perhaps none are better positioned, however, to take on Tesla than Lucid Motors. Lucid Motors has more or less built its factory, designed its first lineup, and secured billions of dollars in investment. They are now poised to break into the car market. Here is how Lucid Motors plans to dethrone Tesla.

10 Technologically Advanced

Lucid Motors has been following a holistic strategy that their vehicle must be all-round better than the Tesla Model S. Lucid Motors has advantages where it has some of the most advanced EV technology out there.

Its vehicles are also built to be incredibility efficient. In the EV world, greater efficiency translates to greater range. And Tesla has given up on building another version of the Model S, which means that the Lucid Air will be the longest range.

9 High Performance

The Lucid Air is likely to have the longest range on the market of any passenger electric vehicle (excluding Tesla's Roadster). With a range of an astonishing 517 miles on a single charge — edging out Tesla's CyberTruck Tri-Motor.

The Lucid Air can also charge up to 20 miles every minute and is one of the few (or perhaps the only) fully electric car out there that can stand up and say it is better than anything comparable on the Tesla range.

Related: Tesla Model S Plaid Plus Now Costs $10,000 More

8 Breaking Into The Auto-Market

The auto market is notoriously difficult to break into. It is hugely capital intensive and many of the wannabes end up going bankrupt. Even as late as 2017, Tesla itself was facing massive financial woes.

But Lucid Motors is loaded. It has now received mind-boggling amounts of cash and investment. We have recently seen from Lordstown how difficult it is to break into the car market from the outside — and it's not the only bankruptcy.

7 Many Of Their Staff Comes From Tesla

Many of the engineers and staff at Lucid Motors are actually from Tesla (including their chief engineer and chief technology officer). The company enjoys a large pool of talent and expertise.

Lucid is able to pull on its extremely talented pool of experience and has been able to build one of the most visionary and innovative car companies in the world. And it seems that they have succeeded, let's see how they perform over the next few years.

6 Expertise In Battery Technology

Lucid Motors started life out in 2007 and was originally called Atieva. Lucid Motors or Atieva was originally oriented towards being focused on building electric vehicle batteries and powertrains. And it was as a parts supplier they got their expertise.

After having been in this industry for some years and being one of the most advanced companies in battery technology, they decided that they could start making their own vehicles. Instead of just supplying to other car companies.

Related: 5 Reasons Why Teslas Are Overhyped (5 Reasons Why We Actually Want One)

5 Going After The Luxury Vehicle Market First

While Tesla is making premium electric vehicles, currently the market is devoid of luxury electric vehicles. If you want to buy a luxury electric vehicle, there kinda just isn't any out there.

Luxury vehicles are lucrative, and the profit margins are higher. This means one doesn't need to sell as many of them. Lucid has the vision to take EVs to the next level. While Tesla has already raised electric cars on several levels, Lucid wants to do better.

4 Plans To Go Mainstream

While Lucid is entering the EV market as a luxury brand, it doesn't actually plan to stay there. It plans to diversify and make more affordable vehicles down the road. The problems of breaking into a new market mean that the strategy they have to follow is first being luxury.

Starting with luxury means that they can build a more modest factory and work with lower volume. The lower volume will enable the company to get the production techniques right.

3 Has Plans To Build A SUV

Lucid is working on its "Project Gravity" — a project to deliver a high-performing electric SUV to the market by 2023. That's not all, they also plan to introduce a direct competitor to Tesla's Model 3 by 2024 or 2025.

This upcoming electric SUV is promising to the best in class. A number of carmakers all around the world are working frantically to build electric SUVs. We will see who comes up with the best designs.

Related: Lucid Motors: A Full Preview Of Their Electric Vehicles Lineup

2 Charging - Electrify America

Unlike Tesla, Lucid doesn't have its own charging network, instead, it has partnered with Electrify America — a subsidiary of Volkswagen Group of America. That will enable Lucid to bypass the very difficult stage of making its own extensive charging network.

Maybe they will build their own network down the line. Fellow electric car start-up Rivian is also planning to build their own national charging network — but one that other EVs can also use.

1 Massive Investment

Lucid Motors received a much-needed shot in the arm when it received $1 billion in investment from the Public Investment Fund of Saudi Arabia in 2018. But even that was feared to not be enough to get started.

Then in February 2021, all their financial woes were laid to rest as they received a truly massive investment of some $11.75 Billion in a merger. They now look well funded and set to make their presence known.

In summary, time will tell how successful Lucid Motors will be in taking on Tesla.