Rating: Strong Buy
Author: Waleed M. Tariq
- Peter Rawlinson and Derek Jenkins, formerly of Tesla and Mazda, founded Lucid.
- LCID went public in July through a SPAC and PIPE.
- The IPO raised $4.4 billion for the company’s expansion aspirations.
- The corporation has plenty of cash and bright intentions for the future.
- MotorTrend named it car of the year above Tesla and Porsche.
- Lucid, a Tesla challenger, just led the EV market. Lucid’s stock could grow soon, so I’m considering buying.
- The company’s current financial state makes it difficult to assess its future value, therefore the future may be uncertain.
- Tesla dominates the EV industry. Lucid’s success is daring. Here’s how they fared.
The top-of-the-line Lucid Air Dream costs little under $170,000.
Tesla’s Model S plaid costs $130,000.
This is the most crucial criterion, as range concern persists.
Farthest Lucid Air’s range is 520 miles.
Farthest Tesla Model plaid has a 375-mile range.
Lucid Air dream’s top configuration has 1,111 hp.
1,020 horsepower power the Model S plaid.
When linked to a DC Fast Charging network, Lucid Air’s built-in bi-directional “Wunderbox” battery charger can add 300 miles in 20 minutes and 20 miles in one minute.
This is faster than Tesla’s 200-mile-per-15-minute supercharging network.
- Above-mentioned differences are noticed. MotorTrend named the Air Dream 2022 Car of the Year. An excellent list of cars.
- The company plans to launch Lucid Air in Europe in 2022 and China in 2023. While Gravity will debut in North America in 2023.
- The new factory in Casa Grande, Arizona, has a 34,000-vehicle-per-year capacity and will reach 90,000 by 2023.
- The company plans to generate 365,000 units per year in three years. Lucid’s expansion goal includes mass-producing cheaper models and generating 500,000 vehicles a year.
- International Energy Agency: 10 million electric automobiles on global highways by 2020. Despite a global car sales decline of 16% due to pandemics, electric car registrations rose 41% in 2020.
- LCID appears to compete and in some ways surpass Tesla, a trillion-dollar company.