Is Lucid Group the Next Tesla?

Lucid (NASDAQ: LCID) is a player in the electric vehicle (EV) market focused on luxury sedans and SUVs. The company's Air sedans and Gravity SUVs generally receive very high marks from automotive media outlets and drivers, and the business's basic strategy bears substantial similarities to the approach that (NASDAQ: TSLA) used to become one of the world's most valuable companies.

Tesla posted negative gross margins on each vehicle sold and operated at a loss for years, but the company bet that driving adoption for its vehicles and expanding manufacturing operations would allow it to leverage economies of scale and improve margins as the marginal cost to produce additional vehicles fell.

With Lucid utilizing a similar strategy, could the smaller EV company eventually go on to produce Tesla-like returns?

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Source Fool.com