From CNBC: 2024-04-27 11:01:00

Lucid Motors (NASDAQ: LCID) boasted about the accolades its electric vehicles (EVs) received, including Car and Driver’s 10 Best list for 2024. However, compared to Tesla and Rivian, Lucid lags in production volume, having only manufactured about 8,500 vehicles in 2023. The company plans to expand production capacity to 90,000 vehicles per year by 2024, but faces challenges in a competitive EV market. With substantial losses and increased expenses, Lucid’s $3.9 billion cash cushion may not be as secure as it seems. Investors should approach investing in Lucid with caution and consider other promising stocks recommended by Stock Advisor analysts.



Read more at CNBC: Is Lucid Motors a Millionaire Maker?