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Lucid Group, Inc. is an American automotive and technology company that manufactures electric vehicles and supplies advanced electric vehicle powertrain systems. The company is headquartered in Newark, California. [5] In September 2021, the company began producing the Lucid Air sedan at its factory in Casa Grande, Arizona. [6]
Upstart electric vehicle company Lucid Group (NASDAQ: ... Lucid trades nearly 10 times its revenue, far higher than legacy automotive companies, and over 3 times Rivian's valuation.
Lucid recently reported a $2.8 billion net loss for 2023 following its $1.3 billion loss in 2022. The company previously trimmed its workforce by laying off 1,300 last March.
The company "achieved a new benchmark in aerodynamic efficiency for its luxury electric car … with tests recently completed at Windshear's advanced rolling-road wind tunnel, the automaker verified a coefficient of drag of 0.21." [23] On May 5, 2022, Lucid Motors announced that it was raising prices of its luxury Air sedan beginning June 1.
The new vehicle means that Lucid will now sell EVs in two distinct automotive categories (sedans and SUVs), and that could help the company lower costs by sharing parts across models.
The automotive industry can be a bit of a copycat industry. When one automaker finds success with a certain strategy, you can bet the competitors across the street take notice. Lucid CEO Peter ...
Electric vehicle maker Lucid Motors reported a third quarter revenue beat and narrower-than-expected loss as the company gears up for the all-important release of its Gravity electric SUV.For the ...
Rapid was acquired in 1909 by General Motors, which merged it with the Reliance Motor Car Company in 1911 to form the General Motors Truck Company (GMTC). In 1912 the two brands were replaced with the GMC brand. Stellantis: Chrysler: Founded in 1925 from the remnants of the Maxwell Motor Company. Acquired by Daimler-Benz in 1998, forming ...