Headlines
- Lucid’s stock saw a significant increase, rising 7.3% as of Wednesday morning, driven by recent company announcements.
- The luxury EV maker showcased its Gravity SUV and provided details on a new midsize SUV, generating renewed investor enthusiasm.
- Lucid highlighted advancements in cost efficiency and battery technology, promising competitive performance and accessibility.
Lucid’s stock (NASDAQ:LCID)experienced a notable uptick, climbing 7.3% by Wednesday morning, reversing a trend of losses seen throughout August. This surge follows exciting developments revealed at the company’s Technology and Manufacturing Day event.
At the event, Lucid unveiled more details about its upcoming Gravity SUV, a key focus for the companyThe Gravity is on schedule for production later this year and will feature Tesla's NACS charging connector, providing access to an extensive network of over 15,000 superchargers.
Additionally, Lucid introduced a new midsize SUV expected to launch with a price tag under $50,000, slated to begin production in 2026The company highlighted its commitment to cost efficiency, asserting that the new model will offer comparable range to competitors despite utilizing a smaller battery packThis vehicle will be equipped with the Atlas powertrain, a cutting-edge technology recently announced by Lucid.
These announcements have sparked optimism among investors, reflecting confidence in Lucid’s future growth and innovation in the electric vehicle market.