LCID - Is It Time to Give Up on Lucid?
2024-04-08 03:02:00 ET
It's been a rough go for electric vehicle (EV) start-ups lately, Lucid Motors (NASDAQ: LCID) included. The company has cut production forecasts numerous times, slashed prices on its only vehicle, reported a widening net loss during the fourth quarter, and barely delivered 6,000 vehicles in 2023.
Combine those factors with a macroeconomic environment of high interest rates and slowing EV demand, and you get the collapse of an EV start-up such as Fisker . But is it time to also give up on Lucid, or should investors hang on during this rough patch?
No matter which way Lucid turns, it faces challenges. At first the company's supply chain caused disruptions in production, and then once those issues were rectified, demand slowed and weighed on deliveries.
For further details see:
Is It Time to Give Up on Lucid?