The Lucid Gravity is one of the most anticipated electric luxury SUVs on the market, and its entry into the UAE has sparked significant interest among car enthusiasts. Known for its premium features, advanced technology, and impressive range, the Gravity offers a blend of performance and comfort that is hard to beat. However, when considering ownership, it is essential to factor in the various costs involved. In this blog post, we will take an in-depth look at the cost of owning the Lucid Gravity in the UAE.

Purchase Price
The purchase price is the most obvious cost associated with owning the Lucid Gravity. The vehicle is available in the price range of AED 309,750 to AED 996,450. This pricing puts it in the luxury electric vehicle segment, competing with other high-end SUVs. The cost varies depending on the chosen trim level, additional options, and customizations. The Gravity is indeed one of the best cars under AED 999,000.

Insurance Costs
Given its high value, insurance for the Lucid Gravity in the UAE will also be significant. Luxury SUVs typically come with higher insurance premiums due to their cost and the technology involved. On average, expect to pay between AED 10,000 and AED 15,000 per year for insurance, depending on the coverage options, the driver's history, and other variables.

Charging Costs
One of the main advantages of owning an electric vehicle is the lower cost of charging compared to fueling a traditional internal combustion engine vehicle. In the UAE, electricity costs are relatively low, which makes charging the Lucid Gravity a cost-effective option. Charging at home can cost roughly AED 60 to AED 80 for a full charge, depending on the utility rates. Public charging stations, especially fast chargers, may be more expensive but still offer substantial savings compared to petrol.

Maintenance and Servicing
Electric vehicles like the Lucid Gravity have significantly fewer moving parts compared to conventional cars, which leads to lower maintenance costs. There's no need for oil changes, and the brakes tend to last longer due to regenerative braking. However, luxury electric SUVs still require periodic checks for components like suspension, battery health, and software updates. Annual maintenance is estimated to cost between AED 2,000 and AED 4,000, depending on the service centre and specific services required.

Registration and Licensing
The cost of registration in the UAE for luxury vehicles can range from AED 1,500 to AED 2,500 annually. These fees cover the administrative aspects of registering a vehicle and ensuring it remains road-legal. The Lucid Gravity, being a luxury vehicle, falls into the higher bracket of registration fees.

Depreciation
Like all vehicles, the Lucid Gravity will experience depreciation. Luxury vehicles tend to depreciate at a higher rate compared to mainstream models, although electric vehicles are starting to retain their value better as the market matures and demand for EVs grows. On average, expect the Lucid Gravity to depreciate around 20-25 percent in the first year, with the rate levelling off in subsequent years.

Incentives and Benefits
The UAE government is actively promoting the adoption of electric vehicles by offering incentives such as free public parking, toll exemptions (Salik), and reduced registration fees in some emirates. These benefits can significantly reduce the overall cost of ownership for electric vehicle owners in the UAE, making the Lucid Gravity an even more attractive option.

Conclusion
Owning a Lucid Gravity in the UAE is a premium experience with a corresponding cost structure. With a purchase price of around AED 400,000, the cost of insurance, charging, and maintenance adds up. However, the overall costs are balanced by lower fuelling and maintenance expenses, along with incentives from the UAE government for electric vehicle owners. For those looking for a luxurious, sustainable, and advanced SUV, the Lucid Gravity offers a compelling option in the UAE market.