Lucid Stock Price Target: Lucid Group has just announced its second-quarter results and has made a big cash infusion before the launch of the Gravity SUV. Let’s find out what changes have been seen in the company’s price target. The company has announced its record delivery and also showed its second-quarter results. This was the biggest cash infusion of the company before the SUV launch, and investment would greatly help the company in further development.
Lucid Group:
Lucid Group is an American company that manufactures electronic vehicles (EVs). This company was started in 2007. The company’s headquarters is located in California USA. Lucid Group is a company specializing in the design, development, and production of electric vehicles and aims to develop good-performance and luxury electronic vehicles.
This company was founded by Bernard Tschumi and Sam Weng, and was named Lucid Motors. In 2021, the company changed its name to Lucid Group. The first car of Lucent Group was named Lucid Air which is a luxury electronic sedan. This car was launched in 2021 and its starting price is around $80,000.
The company’s mission is to make electronic vehicles more accessible and practical, and it aims to produce over 1 million electric vehicles by 2030.
Lucid Latest News 2024:
Lucid Group CEO Peter Rawlinson said that the company has delivered a record 2,400 cars in the second quarter. He also said that the company’s cars will now start at $69,900, which is the world’s most powerful car. Apart from this, the company has started preparations to launch its Gravity SUV, which you will soon see in the market.
Investment Plan:
Saudi Arabia’s public investment fund has announced that it will invest $1.5 billion in Lucid Group. This investment will provide the company with the necessary funds to launch the Gravity SUV and other projects.
Lucid Stock Price Target:
The share price target of Lucid Group has seen a change which is an excellent step in taking the company towards growth. Also, the Public Investment Fund of Saudi Arabia will help the company in its development and achieving its goals.
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Conclusion:
Lucid Group has announced record deliveries in its second quarter results and a major cash infusion ahead of the Gravity SUV launch. The company’s share price target has seen a revision, and Saudi Arabia’s Public Investment Fund has made a major investment. This investment will help the company pursue its growth plans and make the company’s future bright.
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