Lucid to launch Tesla Model 3 rival in 2024 or 2025

Lucid Motors Chief Executive Officer Peter Rawlinson told Reuters on Tuesday that the luxury electric car maker plans to launch a rival to Tesla Inc’s Model 3 in 2024 or 2025.

He also said it is early to make their own battery cells for now, adding that it has contracts with suppliers LG Chem and Samsung SDI.

The former Tesla engineer also said six automakers have reached out to him over the past month and expressed interest in its technology and potential cooperation.