Why Lucid Group came together this week

Shares of the luxury electric vehicle (EV) maker. The Lucid Group (NASDAQ: LCID) rose 22.9% this week through Thursday’s trading at 2:20 p.m. ET, according to data from S&P Global Market Intelligence.

Although the electric vehicle maker reported earnings in early August, the company’s CEO made headlines at Monterey Auto Week this week with an upbeat outlook for the upcoming Gravity SUV, as well as Lucid’s technology versus peers — specifically the elephant in the room. adze.

At Monterey Car Week, Lucid unveiled its new SUV called the Lucid Gravity, which could be a game-changer for the company. In an interview during the event, Lucid CEO Peter Rawlinson noted that the market for Gravity is 6 times larger than that of Lucid Air, which is the company’s flagship sedan product, first introduced in 2021. “Gravity will come, and our finances. are dominated by scale. Everything is scale, scale, and this is a big step in that scale.

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