U.S. electric carmaker Lucid is exploring China entry; confirms mass market models ahead
Publishing timestamp: 2023-09-06 20:39:06
Summary
Lucid is exploring the possibility of selling its cars in China, but there is no timeline for when it will enter the market. The company has hired a former executive from Chinese electric car start-up Nio and is considering the viability of entering the competitive EV market in China. Lucid has quadrupled its factory space in Arizona and is in the process of launching an SUV called Gravity. The company is also looking to expand its product line into lower price categories, with a potential mid-sized car unveiling in 2026. However, Lucid acknowledges that entering the mass-market segment will take time and requires a strong and capable supply base.
Sentiment: NEUTRAL
Keywords: business news, munich, nio inc, lucid group inc, china, electric vehicles, technology, transportation, autos, environment,