Lucid Group Inc. began production of the Gravity luxury electric SUV, noted for its horsepower and long-range capabilities. The company plans to acquire production facilities from Nikola and has undergone management changes. Although offering superior technology, Lucid's higher costs led to price cuts for competitiveness. Despite a smaller-than-expected first-quarter net loss and record deliveries, Lucid’s stock has been volatile, down 32.8% year-to-date with shares trading between $1.93 and $4.43. Analysts see significant upside for the stock through 2030.
Last year, Lucid Group Inc. began production of its highly anticipated Gravity luxury electric SUV, which features impressive horsepower and long-range capabilities.
Despite its technology superiority, Lucid offers its vehicles at a higher cost and has cut prices to remain competitive in the EV market.
Lucid’s stock has experienced volatility, trading in a range from $1.93 to $4.43, with shares lower by 32.8% year to date.
The company reported a smaller-than-expected first-quarter net loss and achieved its fifth consecutive quarter of record deliveries.
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