Lucid Commences Pre-Production Of Model X Rival Gravity SUV: 'Not All EVs Are Born Equal,' Says CEO Peter Rawlinson
Portfolio Pulse from Anan Ashraf
Lucid Group (NASDAQ:LCID) has commenced pre-production of its Gravity SUV, a competitor to Tesla's Model X. CEO Peter Rawlinson shared a video of the first pre-production unit, highlighting the vehicle's unique features. The Gravity SUV is expected to start under $80,000 and aims to capture a market segment that the Model X did not. Lucid plans to start production later this year and has future plans for a high-volume, midsize vehicle by 2026.
July 31, 2024 | 8:34 am
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Lucid Group has started pre-production of its Gravity SUV, which is expected to compete with Tesla's Model X. The vehicle is set to start production later this year, potentially boosting Lucid's market position and stock price.
The commencement of pre-production for the Gravity SUV is a significant milestone for Lucid Group. This new model is expected to compete directly with Tesla's Model X, potentially increasing Lucid's market share and positively impacting its stock price in the short term.
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