From Nasdaq: 2024-06-22 09:37:33

The bloodbath in EV stocks continues in 2024. Lucid Motors (LCID) is down 41% YTD, struggling to compete with Tesla. Lucid Motors expects to produce 9,000 cars in 2024 compared to Tesla’s 1.85 million last year. Despite challenges, LCID remains a key player in the EV market. Factors like overcapacity and slowing demand are impacting the EV industry, leading to price wars and losses for startup EV companies like Lucid Motors. Lucid Motors stands out due to its quality products, efficient technology, and strong financial backing, which includes support from the PIF and Saudi Arabia. Lucid Motors is expected to see challenges in the upcoming years, especially with production targets and competition from Tesla. The company’s ability to raise additional capital and achieve production targets will be key factors in determining its success.



Read more at Nasdaq: Lucid Motors Stock Price Prediction 2025: Is LCID Worth the Risk Amid the EV Meltdown?