Photo: Lucid Motors
Yesterday, Lucid Motors' market value reached just over $89 billion thanks to an appreciation of roughly 24 percent of its shares. Were you tired of following the Twitter activity of the CEO of one EV-making company? Well, you can now start following Peter Rawlinson, the CEO of Lucid Motors because what he says is beginning to have an important impact on the company as well.
To be fair, his statements seem to be less inspired by pop culture and more backed up by data than Elon Musk's, but that doesn't change the fact that Lucid Motors has ascended to the next level and has become an active player on the market.
Yesterday, following news of a growing number of reservations for the Air electric sedan and an undazed production plan for the next year, the LCID shares received a 24% bump to bring the total valuation over that of Ford Motor and just one billion dollars (listen to us, saying "just" about one billion. It's what happens when you spend too much time, be it virtual, among tech billionaires - it rubs off) below that of General Motors.
All this is obviously still miles away from Tesla's value of over one trillion dollars (no "justs" here), and it would take something truly spectacular for Lucid and catastrophic for Tesla for the two to come close anytime soon, yet the first signs indicate the Air is a formidable car, so don't put it past the newcomer just yet.
In fact, the Lucid Air has just received Motor Trend’s 2022 Car of the Year, and even though having a new model from Tesla to compete against would have made the accolade even juicier, it still says plenty about the Air as it makes it only the third EV to get it (after the Tesla Model S and the Chevrolet Bolt).
With Tesla missing, it was up to the likes of Mercedes-Benz EQS and Porsche Taycan (not to mention other ICE-powered models) to put up a fight, and even though we don't have any scores to go by that would tell us how close the decision was, the very fact it outclassed cars from those two brands says everything you need to know: there's a new kid on the block.
Yesterday, following news of a growing number of reservations for the Air electric sedan and an undazed production plan for the next year, the LCID shares received a 24% bump to bring the total valuation over that of Ford Motor and just one billion dollars (listen to us, saying "just" about one billion. It's what happens when you spend too much time, be it virtual, among tech billionaires - it rubs off) below that of General Motors.
All this is obviously still miles away from Tesla's value of over one trillion dollars (no "justs" here), and it would take something truly spectacular for Lucid and catastrophic for Tesla for the two to come close anytime soon, yet the first signs indicate the Air is a formidable car, so don't put it past the newcomer just yet.
In fact, the Lucid Air has just received Motor Trend’s 2022 Car of the Year, and even though having a new model from Tesla to compete against would have made the accolade even juicier, it still says plenty about the Air as it makes it only the third EV to get it (after the Tesla Model S and the Chevrolet Bolt).
With Tesla missing, it was up to the likes of Mercedes-Benz EQS and Porsche Taycan (not to mention other ICE-powered models) to put up a fight, and even though we don't have any scores to go by that would tell us how close the decision was, the very fact it outclassed cars from those two brands says everything you need to know: there's a new kid on the block.
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