Lucid Teams Up With Bank Of America To Launch Car Rental Finance Service

Luxury electric carmaker Lucid Group said on June 7 it will partner with Bank of America to provide financial services to customers as a way to differentiate itself in a crowded market,media reported .

The Lucid Financial Services digital platform will provide "flexible, fast and simple financial services processes" to customers in need of leasing and loans, enabling customers to complete vehicle purchases online, from application to signing an electronic contract .

The financial service is designed to create an easier car-buying experience for Lucid's U.S. customers, at a time other automakers are starting to rethink the dealership experience.Ford said last week it wanted to restructure its sales model so that customers could buy electric vehicles online for a fixed price.

"Lucid Air's customers demand flexible financial options, including leasing and loan purchases, and many of them love this 100 percent digital experience," Amira Aly, director of financial services at Lucid, said in a statement.

Lucid began delivering its highly anticipated Lucid Air flagship luxury electric sedan to customers last year.The full-size sedan has a range of 520 miles on a single charge, and power ranges from 400 to 800 horsepower, depending on configuration.

The company is now gearing up to launch its second production model, the $179,000 Lucid Air Grand Touring Performance Model, a 1,050-horsepower grand tourer with a range of 446 miles. .Lucid says the dual-motor high-performance model has a zero-to-zero acceleration time of about 2.6 seconds.

Both models feature an ultra-fast 900V+ charging system that adds 300 miles to the battery in 21 minutes on a 350kW DC fast charger.