Lucid Group (LCID) unveiled Lunar on Thursday, a two-seat robotaxi concept based on its midsize EV platform.

During its Investor Day event on Thursday, Lucid presented its latest innovations designed to improve profitability, expand market share, and extend its efficiency leadership into higher-volume segments.

Lucid’s midsize platform is at the center of its growth plans, set to underpin three new models that will start under $50,000: the Cosmos and Ocean SUVs, and a third EV that has yet to be revealed.

The new platform, according to Lucid, will deliver class-leading range, efficiency, performance, in-car features, and spaciousness.

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While the new midsize electric SUVs are expected to be direct rivals to the Model Y, Lucid will challenge Tesla’s leadership in another market.

Lucid introduced Lunar during its event on Thursday, a two-seat robotaxi concept like the Tesla Cybercab. Based on the new midsize platform, Lucid said the Lunar robotaxi concept “highlights the potential of the company’s Midsize platform to support future autonomous and commercial applications.”

The advanced new tech and software used in the midsize platform enable “best-in-class efficiency for robotaxis,” Lucid said.

With an efficiency rating of up to 4.5 mi/kWh, the Lucid Cosmos beats out the Lucid Gravity (3.6 mi/kWh), Jaguar I-PACE (2.5 mi/kWh), Hyundai IONIQ 5 (3.4 mi/kWh), and Zeekr RT (2.7 mi/kWh).

Although not quite as fast as the Gravity, the midsize robotaxi can regain 200 miles of range in 14 minutes, which is faster than the I-PACE and IONIQ 5. It will also be equipped with safety backups for core vehicle operations and autonomous driving.

Compared to South Korean midsize models, Lucid said operating costs would be 34% lower and 10% lower than the leading US midsize CUV.

The midsize Cosmos SUV, powered by a 69 kWh battery, delivers 300 miles of range. Lucid said that to provide the same range in a comparable model, it would cost Chinese OEMs $2,000 more, German OEMs $1,500 more, and US brands $500 more.

Lucid already plans to deploy 20,000 Gravity robotaxis through its partnership with Uber and Nuro, starting later this year.

As it works to introduce L4 autonomy in 2029, Lucid will begin with hands-Free highway driving this year, followed by hands-free highway and city in 2027, and eyes-off by the end of 2028.

Lucid didn’t say when it plans to launch the Lunar robotaxi, but when it does, it will go up against the Tesla Cybercab. Last month, the first Cybercab production model rolled off the assembly line at its Gigafactory Texas.