Lucid news today4/4/2023 ![]() ![]() In a year during which Jonas anticipates there will be “severe EV deflation,” as with many other EV startups, Lucid will have to overcome “execution headwinds. The Lucid Air alone easily offered enough game-changing aspects to earn a place as one of our Best Car To Buy finalists, which also included the Hyundai Ioniq 5, Mercedes-Benz EQS, Rivian R1T, and. Tesla’s move also applies “significant fundamental pressure on its peers.” Zooming in one case, what are the ramifications for Lucid Motors ( NASDAQ:LCID), a company that has pivoted toward the luxury end of the market? Morgan Stanley’s Adam Jonas thinks the recent price cuts are “just the latest sign the EV market may be entering the ‘shake-out’ phase.” Tesla can probably afford to take the hit on margins, given its scale, but what are the implications for other, smaller EV players? After showing disappointing delivery numbers for Q4, the EV leader has aggressively slashed some vehicle prices by as much as 20% in the U.S. The most obvious manifestation of this change was evident in the recent price cuts taken by Tesla. Whereas during the last few years, demand was outstripping supply, the inverse now appears to be the case with there being a glut of supply amidst dwindling demand. Its output should increase by another 50% to 94,000 units in 2024 and then triple over the next three years.īy 2027, if Coldicott is correct, Lucid Group will be delivering in excess of 300,000 EVs per year.There appears to be a shift in the electric vehicle (EV) industry. In 2023, Coldicott sees Lucid more than doubling its production to 61,000 units. According to an email sent by Lucid to customers (and discovered by Auto Evolution ), the Air Pure RWD will come with a single rear-mounted motor that makes 430 horsepower and 406 lb-ft, which is. ![]() How high are those expectations? Specifically, Coldicott is preparing for Lucid to produce and deliver in excess of 25,000 electric cars this year. Within that expanding EV market, Coldicott has ambitious expectations for Lucid Group despite the automaker’s fierce competition. First of all, Coldicott expects that “the global electric vehicle market could grow up to 10x by 2030.” Given this development, it certainly appears that Lucid is preparing for rapid growth in the coming years.įor his part, Charles Coldicott of U.K.-based research firm Redburn seems to envision rapid growth on the horizon for Lucid. Lucid Chairman Andrew Liveris did indicate, however, that his company’s attention is turning to the planned Saudi Arabia factory, now that it is successfully producing and selling cars in the U.S. Unofficial sources suggest that the factory could be located in Jeddah or Neom, which are both Saudi cities. That makes perfect sense, since Lucid’s largest shareholder is Saudi Arabia’s sovereign wealth fund, known as the Public Investment Fund.Īdmittedly, not all of the details about the plant are known yet. Indeed, Lucid reportedly plans to build a production plant in Saudi Arabia in 2025 or 2026. Lucid’s Advanced Manufacturing Plant in Arizona, while impressive, could just be the first phase of the company’s invasion of the international EV market. It just goes to show that the market’s fears are often worse than what actually happens. Some folks might have expected a deep selloff after that event, but nothing terrible transpired. Also worth noting is a report from InvestorPlace contributor Eddie Pan, observing that the lockup period for the legacy shareholders of Lucid had expired on Jan. In other words, the lackluster performance of LCID stock isn’t entirely the company’s fault. ![]() Remember that the Nasdaq, where Lucid trades, did not perform very well in December and much of January. ![]() Sure, rejection can hurt, but it’s no reason to give up on the stock. In February of last year, and then three separate times in November, the shares came close to clearing the $60 hurdle but were always rejected. It’s frustrating to watch LCID stock fall after each of its mini-rallies. That $60 resistance level is the price point to watch for those who have invested in Lucid. I’ve said it before, and I’ll say it again. the shares’ jailbreak moment could be powerful when it happens. Meanwhile, as we’ll see, LCID stock has been choppy Still, with one prominent analyst preparing for Lucid’s vehicle-production to surge tremendously in the coming years. ![]()
0 Comments
Leave a Reply.AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |