Lucid In Trademark Battle With Tech Giant-Backed Company For Gravity SUV
Portfolio Pulse from Chris Katje
Lucid Group Inc (LCID) is in a trademark dispute with Gravity Technologies, backed by Alphabet Inc (GOOG, GOOGL), over the name of its Gravity SUV. Gravity Technologies, which operates EV charging stations and previously ran an electric taxi fleet, filed a petition for cancellation against Lucid's vehicle trademark, citing potential consumer confusion. Lucid, facing a significant stock decline and reduced production estimates, is fighting the petition, despite the potential high costs and impact on its trademarks.
March 12, 2024 | 7:38 pm
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NEUTRAL IMPACT
Alphabet Inc, as a backer of Gravity Technologies, is indirectly involved in a trademark dispute with Lucid Group over the Gravity SUV name, which could influence Alphabet's reputation in the EV sector.
Although Alphabet is indirectly involved through its backing of Gravity Technologies, the direct impact on Alphabet's stock or reputation is likely minimal due to its diversified portfolio and the specific nature of the dispute being more closely related to Lucid and Gravity Technologies.
CONFIDENCE 75
IMPORTANCE 40
RELEVANCE 50
NEUTRAL IMPACT
Alphabet Inc, through its backing of Gravity Technologies, is indirectly involved in a trademark dispute with Lucid Group, potentially affecting its standing in the EV market.
Similar to GOOG, GOOGL's indirect involvement in the trademark dispute through Gravity Technologies is unlikely to have a significant direct impact on Alphabet's stock or reputation, given Alphabet's large and diversified nature. The dispute's relevance to Alphabet is more about its association with the EV sector than a direct financial impact.
CONFIDENCE 75
IMPORTANCE 40
RELEVANCE 50
NEGATIVE IMPACT
Lucid Group Inc is embroiled in a trademark dispute with Gravity Technologies over its Gravity SUV, potentially impacting its brand and financials amid already declining stock and production estimates.
The trademark dispute with Gravity Technologies adds legal challenges and potential financial burdens to Lucid, which is already struggling with stock declines and reduced production estimates. This situation could negatively impact investor confidence and the company's ability to market its Gravity SUV effectively.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90