Lucid Group Inc
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Consumer Discretionary : Automobiles |
Company profile

Lucid Group Inc, formerly Churchill Capital IV Corp, is engaged in manufacturing electric vehicles (EV). The Company’s car, Lucid Air, is a sedan. It features interior space in a mid-size exterior footprint. It uses electric vehicle technology for each type of car it builds. Its EV cars have a horsepower of approximately 1,080 and a range of approximately 500 miles per charge. The Company’s Lucid application provides an in-car experience. It offers Air Dream Edition, Air Grand Touring, Air Touring and Air Pure. The Company’s studios and service centers are located across California, Florida, Michigan, Illinois, New York City, Massachusetts, Washington, Arizona, Canada, Virginia, Texas and Colorado.

Premarket

Last Trade
Delayed
$28.28
-0.42 (-1.46%)
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Market Hours

Closing Price
$28.70
Day's Change
0.00 (0.00%)
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Volume
(Light)
Volume:
487,749

10-day average volume:
41,187,789
487,749

Lucid EV production begins, company says deliveries to start in October

7:12 am ET September 29, 2021 (MarketWatch)
Print

By Levi Sumagaysay

Electric-vehicle maker Lucid Group Inc. on Tuesday showed off the first cars rolling off its production line and said it will deliver them to customers starting late next month.

The Newark, Calif.-based company's shares rose more than 7.5% in extended trading after the news, after falling 5.2% to $24.54 in the regular session.

Lucid (LCID) opened its plant in Casa Grande, Ariz., to the media and others on Tuesday, saying it has more than 13,000 reservations for its Lucid Air sedan. The company is producing 520 of its Lucid Air Dream Edition models, which cost $169,000, first. According to a news release, reservation holders for both the special edition model and the Lucid Air, which starts at about $74,000, will begin receiving their vehicles in late October.

Lucid says its vehicles have a single-charge range of 520 miles, "more than 100 miles over its closest competitor." That competitor is Tesla Inc.'s (TSLA) Model S Long Range, which that company says can go about 420 miles on a single charge.

Deliveries of Lucid's Grand Touring, Touring, and Air Pure models are expected to follow the initial rollout, the company said.

Shares of the Lucid, which went public in July via a merger with a blank-check company, have risen 145% year to date but have decreased about 9% in the past three months.

-Levi Sumagaysay

	

(END) Dow Jones Newswires

September 29, 2021 07:12 ET (11:12 GMT)

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