The electric vehicle space is experiencing a lot of competition. If a consumer doesn’t know about a product, they can’t know they want to buy one. With only a few hundred cars on the road, most people haven’t even seen a Lucid car. Lucid doesn’t have the same name recognition and isn't a household name. Many people can easily identify a Tesla car on the road. On the other hand, Tesla has already produced well over 1 million vehicles, giving it a great advantage in the marketplace. The manufacturer has only delivered a few hundred cars to customers as of the end of February 2022. Lucid may be an electric car maker in a trendy and growing industry, but that doesn’t mean it’s necessarily a great investment. Leadership team experienced in successful electric cars. Previous history as a battery technology company.īattery efficiency and range superiority.Ĭan make money with batteries and technology in other ways. Eric Bach, the company’s senior vice president of product and chief engineer, previously helped launch vehicles for Volkswagen AG and Tesla, as well. Their CEO, Peter Rawlinson, served as the chief engineer for Tesla’s Model S electric car. The company has a leadership team in place that has faced the challenges of a startup electric carmaker. It can also supply other companies with technology it’s developed as another potential revenue source. It’s working on an energy storage system for home, commercial, and utility use. Lucid has opportunities to make money in ways other than by selling cars. With an estimated production of 12,000 to 14,000 vehicles in 2022, this reservation backlog means there is a very good chance each vehicle produced will be immediately sold.
The company already has 25,000 reservations for its Lucid Air vehicle. This allows Lucid’s cars to get a longer range per battery charge.
Their beginnings as a battery technology company have helped the carmaker achieve the highest battery efficiency for its vehicle compared to Tesla, Jaguar, Porsche, Audi, and Rivian. The company is still in its infancy, with much room to potentially grow. This is expected to grow to $733 billion in sales in 2026. In 2018, this market segment had $496 billion in sales. The company falls firmly in the luxury automobile segment, which is projected to continue growing in the coming years.
People looking to invest in Lucid could find several reasons why the company is poised for success. This is a fraction of Tesla’s current valuation of over $709 billion.Ĭurrent top shareholders of Lucid include: The company is currently valued at around $30 billion as of June 6, 2022. The company also plans to add an SUV model, the Lucid Gravity, to its product line in the near future. In April 2022, Lucid announced a new version of its Lucid Air, the Lucid Air Grand Touring Performance, with higher horsepower and faster acceleration.
Production estimates for 2022 are in the 12,000 to 14,000 vehicle range, which has fallen from previous estimates. The company states it has reservations for 25,000 of their first vehicle, the Lucid Air, as of the end of February 2022. This gives investors hope they can get in early enough to receive similar returns to Tesla's. As of early 2022, the company had just delivered a few hundred vehicles. While the company had started as a battery technology company in 2007, the company’s first production car rolled off the assembly line in 2021. Lucid is still in the early stages of its life as a company, though.
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