Good News for LCID Stock: Lucid Air Receives Stellar Reviews

Lucide Group Inc (NASDAQ:LCID) is the leader in electric vehicles You’re here (NASDAQ:TSLA) in his sights. Mind you, Lucid still has a way to go before Tesla sweats up. At this point in the game, Lucid has just rolled out its first production electric vehicle, and the company has a market cap of around $ 40 billion. By comparison, Tesla released its first production electric vehicle in 2009. In August, its Model 3 became the first electric vehicle to sell over a million units. Tesla’s market capitalization is around $ 875 billion. Considering David and Goliath’s story here, is the LCID stock even worth considering?

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The contrast between the companies makes Lucid an attractive option for investors. Tesla is a mature company that has experienced phenomenal growth. Today, TSLA stock opened at $ 873.72 per share. Considering its value, the days of massive gains may be over. LCID stock cost only $ 24.85 per share at the opening today, and the company is still in its infancy. Dangerous territory, but also full of potential. And based on the reviews of the Lucid Air – his first VE – Lucid has the potential to take on Tesla.

Improve on Tesla

You can’t have a conversation about Lucid’s ambition to improve Tesla without talking about the elephant in the room. That would be Lucid CEO Peter Rawlinson. He just so happens to be a former Tesla Vice President and Tesla Model S Chief Engineer. Rawlinson has credibility, proven skills, and he knows the competition intimately. The first version of Lucid is the Lucid Air, a luxury sedan designed to beat the Tesla Model S in every way.

The value of LCID shares is largely supported at this point by the fact that Lucid had 10,000 pre-orders for the luxury EV booked as of June.

Lucid Air Garnering Killer Reviews, Tesla-Beating Range

Tesla’s Model S offers a maximum range of 412 miles on a charge and the base model starts at $ 91,190. The Lucid Air has a starting price of $ 77,400 and its maximum range is 520 miles. With both vehicles you have to shell out extra for extended range, but the Lucid Air gets off to a good start by beating the class-leading Tesla Model S on both starting price and maximum range.

News is improving for Lucid, now that the Lucid Air reviews are starting to arrive.

MotorTrend praised the design of the Lucid Air, while tearing up rivals for luxury electric vehicles:

“The interior is a whole different matter. Wow. While every Tesla since day one has apparently shipped without a finished interior, Lucid has not only designed a perfectly marvelous luxury car cabin, but he has also cleverly avoided the aesthetic displays that plague cars like the Mercedes EQS.

Car and driver verdict:

“The all-electric Lucid Air is a remarkable first-time automaker’s first effort, and the full-size sedan is a great electric vehicle as well. “

Consumer reports reiterates the range advantage of Lucid Air:

“When it comes to ultra-long range electric vehicles, there is a new champion… In total, six Lucid vehicles beat the previous record holder, the Tesla Model S Long Range, which has a range of 405 miles. “

Lucid Plans Include Model 3 Targeting

Looks like Lucid has done a great job targeting the Tesla Model S. However, the real threat to Tesla is what it will become when Lucid starts taking on the Tesla Model 3.

According to a Forbes interview with Peter Rawlinson, Lucid plans to reach 25,000 units per year of the Lucid by 2022. This would be followed by a crossover, tentatively named Gravity in 2023. Phase two of the company’s production facility is currently under construction and, when completed, will support volume of 90,000 vehicles per year. Phase three will bring that number to 400,000. Lower-priced, high-volume models for the Model 3 would arrive within five years.

Final result on LCID actions

If you’ve missed out on the huge gains of TSLA shares over the past couple of years, LCID stock offers the possibility of a recovery.

However, this Portfolio filing cabinet Shares rated “B” are not without risk. Production has only just begun on the Lucid Air. The first cars to roll off the assembly line were for reviewers, and actual customer deliveries are not expected until later this month. This will be the test of the quality of the assembly line in terms of volume and quality.

Moreover, the circumstances are different now than during Tesla’s rise. Tesla was virtually the only game in town at a time when government policy and consumer environmental concerns sparked an increase in interest in electric vehicles. In contrast, Lucid is entering a market that is maturing and rapidly filling with competition, including from traditional car manufacturers.

However, the potential is there and the early reviews of Lucid Air are encouraging.

As of the publication date, neither Louis Navellier nor the InvestorPlace research staff member primarily responsible for this article held (directly or indirectly) positions in the securities mentioned in this article.

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