Why Lucid Is Zigging While Rival Tesla Zags

While (NASDAQ: TSLA) and Lucid Motors (NASDAQ: LCID) may have more in common with one another as electric vehicle (EV) makers, they are substantially different businesses right now. Tesla has branched out to increase the number of customer segments it serves and regions it sells into, and has proven it can do so profitably. Lucid hopes to get there one day. Despite the automotive commonalities, the two competitors are approaching a similar market entry scenario in very different ways, with one seemingly doomed to fail.

In terms of perspective, Tesla and Lucid seem to again see market potential in a similar way. Both India and Saudi Arabia have low rates of EV adoption, but both markets have an optimistic consumer base and some community or government support to push electric ambitions. That said, how Tesla entered India and how Lucid is settling into Saudi Arabia show they have very different strategies.

Image source: Lucid Motors.

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Source Fool.com