A startup headed by a former Tesla exec said its Model S rival will have a 240-mile range

Danielle MuoioMar 15, 2017, 23:07 IST

A view of the Lucid Air outside of Lucid Motors' headquarters in Menlo Park, California, February 16, 2017.Bryan Logan/Business Insider

Startup Lucid Motors has revealed more details about its first long-range electric car, the Lucid Air.

The base Lucid Air vehicle will start at $52,500 after federal tax credits and have a range of 240 miles, Lucid Motors announced on Wednesday. That would put the sedan in closest competition with the Tesla Model S 75, which has a range of 249 miles and starts at roughly $70,300 after federal tax credits.

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Lucid Motors, formerly Atieva, was founded by Bernard Tse, a former Tesla vice president and board member who was ousted as CEO following friction with the company's largest shareholder, Beijing Automotive Industry Holding, in April 2016, The Guardian reported at the time.

Peter Rawlinson, the former vice president and chief engineer for Tesla's Model S, is Lucid Motors' chief technology officer. Lucid Motors, which is based in Menlo Park, has yet to name a new CEO.

Scroll down for a closer look at the Lucid Air:

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A startup headed by a former Tesla exec said its Model S rival will have a 240-mile range