Is Lucid Group Stock a Buy?
Lucid Group (NASDAQ: LCID) has surely caught the attention of electric vehicle (EV) investors. Among automakers that manufacture only EVs, Lucid Group's market capitalization, of nearly $37 billion, is behind only those of Tesla and Nio. Let's see if investors' excitement about this recently listed company is justified or not.
Lucid hasn't delivered any cars yet, but its planned models have some of the best features and designs. To begin with, the company's first product, the Lucid Air, claims to have a battery efficiency of more than 4.5 miles per kilowatt-hour. That's higher than Tesla's Model S, which is the leader in battery efficiency right now. Moreover, it is projected to have a range of more than 517 miles, compared to 412 miles for the Model S. If delivered, this range would surely be very attractive for potential buyers. Notably, Lucid Air has shown these results in prototype testing.
Image source: Lucid Motors.
Source Fool.com
