Luxury EV maker Lucid appears to have a demand problem
Publishing timestamp: 2023-02-24 20:51:26
Summary
Lucid, a luxury electric vehicle maker, reported fewer reservations for its Air sedan than expected and plans to build fewer vehicles than its factory capacity allows. This has caused the stock to sell off and raised questions for investors about the company's potential market size and profitability. Despite this, Lucid has the backing of a deep-pocketed investor, the Saudi Arabia Public Investment Fund.
Sentiment: NEGATIVE
Tickers: LCID,
Keywords: business news, climate, technology, business, electric vehicles, lucid group inc, transportation,
Source: https://www.cnbc.com/2023/02/24/lucid-ev-demand-problem.html