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Lucid Group Completes Another Strong IPO for EV Companies

Investors continue to show strong support for electric vehicle companies. Lucid Group debuted Wednesday on the NASDAQ and became the eighth-most valuable automaker globally today. 

With a market cap of about $80 billion, Lucid became the eighth-most highly valued automaker in the world, topping Ford.

The strong showing comes a week after Rivian also wowed electric vehicle watchers with a market cap that touched $100 billion. 

What’s interesting about the Lucid and Rivian support is that the companies have delivered few cars. Lucid said Monday it has more than 17,000 reservations for its Air sedan and plans to build 20,000 vehicles next year.

The company’s flagship Lucid Dream Edition is a $169,000 luxury sedan with an impressive 520 miles of range. An entry-level version of the car starts at $77,400, however, the company’s first run of cars will be the most pricey version.

OxBrew

MYLR White Black Hitch
Sep 23, 2021
119
137
Spokane WA
They have delivered 20 cars so far, at $170k each.

Wish them the best, hope they can scale up into the hundreds per month, to infinity, and BEYOND!!!!1!1!!!
 
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sleepydoc

Member
Aug 2, 2020
392
379
Minneapolis
They have delivered 20 cars so far, at $170k each.

Wish them the best, hope they can scale up into the hundreds per month, to infinity, and BEYOND!!!!1!1!!!
I know EVs are popular right now, but something isn’t right here. Lucid has a market cap of $80 billion making it the 8th largest (actually 8th most valuable) automaker in the world but they’ve only delivered 20 cars total and to my knowledge don’t actually have a production line up and running. On top of that, their cars start at $77,000, going up to $170k, meaning they have at best a limited market.

What am I missing here?
 
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OxBrew

MYLR White Black Hitch
Sep 23, 2021
119
137
Spokane WA
I know EVs are popular right now, but something isn’t right here. Lucid has a market cap of $80 billion making it the 8th largest (actually 8th most valuable) automaker in the world but they’ve only delivered 20 cars total and to my knowledge don’t actually have a production line up and running. On top of that, their cars start at $77,000, going up to $170k, meaning they have at best a limited market.

What am I missing here?
It's what you're not missing: critical thinking. If you can't evaluate a situation, you just take the PR at face value, and you see a bandwagon, hop on it!

I see no evidence they have a production line running either. Not an easy lift. Ramping up supply chains right now is nearly impossible.

I truly do wish them the best, but not optimistic.
 
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