The company has more than 10,000 on order. Lucid also updated its order book for Air sedans. Theįor comparison, gained 0.5% and 0.2%, respectively. A lower-priced sedan will come after that.Ĭhurchill stock closed up 2% on Tuesday. Producing an SUV is next on Lucid’s agenda. It is clear that investors expect a lot from Lucid as management pursues a Tesla-like strategy. (GOEV) have a combined market capitalization of about $14 billion That valuation makes the company worth about 64% of Ford, and roughly equivalent to Ferrari (RACE). Lucid is worth about $37 billion based on the 1.6 billion shares that will be outstanding after the merger is complete. (CCIV) in a deal that will result in Lucid becoming a publicly traded company. Lucid is merging with the special-purpose acquisition company That is one reason the company doesn’t have a startup-style valuation. It feels more like a seasoned automotive producer, ready to go toe to toe on any feature with any maker of gas-powered or electric vehicles. Lucid, for its part, doesn’t seem to behave like a startup. And the EQS and the Air will both massage the driver and passenger. The Mercedes has an incredible interior too, but Lucid’s technology display is state of the art, complete with curved glass. The Plaid might be a little faster-it goes zero to 60 in less than two seconds-but the Air might beat it on interior quality. Those two will each cost drivers more than $120,000. A Lucid Air Dream Edition should really be compared to an all electric Mercedes EQS, or a The Mach E and the Air aren’t really comparable. Of course, the Mustang is still an impressive car. Pinning the sun visors back to the side windows reveals a continuous piece of tinted glass that morphs into what is best described as a glass ceiling. Is most proud of is a front windshield that seems to go on forever. The Air also has all the leather and appointments people would expect on a luxury sedan. The coming all-electric Ford F-150 Lightning pickup truck has a frunk that can become a cooler. Frunk space is going to become a competitive issue for EVs because the area once occupied by a gasoline-powered engine can now hold cargo. The Lucid management team, to a person, is proud of all that interior size and the car’s large frunk, or front trunk. A spacious back seat adds to the luxury feel. The result is that although the car is a little smaller than a Tesla (TSLA) Model S, the interior feels much bigger. It’s a carnival ride on the streets.Īside from speed, Lucid has worked hard on the interior, placing all the EV technology strategically and shrinking its internally built electric motors. Our driver had a chance to floor it between stop lights on Manhattan’s West Side highway. The car has completed a quarter mile in under 10 seconds. The Air we drove in boasts more than 1,000 horsepower and can go from zero to 60 miles an hour in about 2.5 seconds. The Air on display was a “Dream Edition” and will run drivers about $170,000. We spent an afternoon driving in an Air and talking with Lucid management.įord shouldn’t feel too badly though. (ticker: F) Mustang Mach E was our favorite EV ride, but Lucid has bumped the Mustang from its perch. Back in February, Barron’s wrote that the new
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