Their trading strategies do not guarantee any return and CMC Markets shall not be held responsible for any loss that you may incur, either directly or indirectly, arising from any investment based on any information contained herein. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination.ĬMC Markets does not endorse or offer opinion on the trading strategies used by the author.

The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. By 2030, Lucid anticipates a run-rate of around 500,000 units, representing a 4% market share.ĭisclaimer Past performance is not a reliable indicator of future results.ĬMC Markets is an execution-only service provider. While revenues are forecast to grow from $97m in 2021 to $2.2bn in 2022, Lucid predicts it won’t generate operating profit until 2024. The company expects to deliver 20,000 vehicles in 2022 which would increase to 49,000 in 2023 after the Lucid Gravity SUV is introduced. That’s an annual compounded growth of 5%. Lucid suggested in its presentation the luxury car market was worth $497bn in 2018, rising to $733.3bn in 2026. Lucid said it had 10,000 reservations for its luxury sedan, which would work out to $900m in anticipated sales. Tesla is described as ‘innovative but not luxury’.Ī Lucid Air starts at $77,400, putting it firmly in the luxury car bracket, while a Tesla Model 3 can be bought for under $40,000.

In an investor presentation accompanying Lucid’s market debut in July, the EV maker puts itself firmly in the ‘post luxury’ bracket, likening itself to being a combination of BMW, Audi and Mercedes. Since then the stock has lost some momentum. Lucid stock soared over 15% when it made its debut on the Nasdaq via a merger with a blank cheque company in July. “Our technology will allow for increasingly lighter, more efficient, and less expensive EVs, and today represents a major step in our journey to expand the accessibility of more sustainable transportation” - Peter Rawlinson, CEO & CTO of Lucid Group The company has 13,000 reservations for the Lucid Air and increased production of the Lucid Air Dream to 520 models, said the statement, adding that the Lucid Air can travel up to 520 miles on a single charge - 100 miles further than its closest competitor. In a statement, Lucid said that it expects reservations holders of the Lucid Air Dream edition model to start receiving their vehicles in October, with ‘customer deliveries ramping up thereafter’. 'I'm delighted that production cars endowed with this level of efficiency are currently driving off our factory line.' “Our technology will allow for increasingly lighter, more efficient, and less expensive EVs, and today represents a major step in our journey to expand the accessibility of more sustainable transportation,' Peter Rawlinson, CEO and CTO of Lucid Group, said in a statement. Lucid’s top brass were undoubtedly happy when showcasing the first cars coming off its production lines. In Lucid’s case it's even more special because some of the competition hasn’t even begun making vehicles yet. Shareholders will be hoping this is a mere speed bump on the way to longer-term gains as customers start to take possession of their new cars.įinal delivery of electric vehicles is always a good news story for any EV start up. Friday the stock closed at $24.61 after experiencing a 3.03% fall. Gains in Lucid’s stock from news of deliveries in October haven’t held on.

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