Lucid Group Inc (NASDAQ:LCID) shares are trading higher Monday. The company announced that it reached an agreement over a trademark dispute.
What Happened: After the market close on Friday, Lucid said it reached an agreement with Gravity Inc., an American manufacturer of high-speed EV charging equipment, regarding use of the “Lucid Gravity” trademark.
Lucid said the agreement allows the company to use the “Lucid Gravity” brand without impinging on Gravity’s pre-existing trademark, avoiding a dispute between the two companies. Further details of the agreement were not provided.
“We are pleased to have reached an agreement with Gravity, Inc. Anticipation is building for the Lucid Gravity and we look forward to delivering the ...