Tesla rival Lucid Motors runs commercial following Musk's 'SNL' monologue

The Lucid Air claims to be the first 500+ mile electric vehicle with a starting price of $77,400.

Tesla's rival in the electric car market wasted no time taking advantage of Elon Musk's appearance on "Saturday Night Live."

Lucid Motors ran an ad for its luxury car right after Musk finished his monologue.

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The Lucid Air claims to be the first 500+ mile electric vehicle with a starting price of $77,400.

That range would surpass the capabilities of Tesla vehicles currently on the market.

Lucid Motors is expected to make its first deliveries of the Air sedan to customers by later this year. The car’s original launch window of spring 2021 was moved back due to delays related to the coronavirus pandemic.

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Tesla’s value has surged during the coronavirus pandemic, establishing Musk as the third richest person on Earth, according to Forbes. Musk also founded SpaceX and The Boring Company.