Lucid Group (NASDAQ:LCID) is quickly becoming synonymous with electric vehicle (EV) innovation. The company has been hard at work creating vehicles to rival those of industry leader Tesla (NASDAQ:TSLA). InvestorPlace’s Luke Lango has long been bullish on LCID stock as well, praising the company’s tech and citing Lucid’s ability to pull ahead of Tesla in the EV race. Lango sees significant potential for Lucid to overtake its much larger competition in terms of sales and output:
“Lucid Motors will be selling hundreds of thousands of cars a year, at super-high price points, with extremely favorable margins. We’re talking a $20-plus billion revenue company by 2026, with 20%-plus gross margins.”
Today, Lucid gave investors and consumers yet another reason to be optimistic about LCID stock. The company revealed images of the new Lucid Gravity, a highly anticipated luxury electric SUV. The company also released a statement describing the many new and exciting features that the model will offer, including more range than all other non-Lucid EVs.
Let’s take a look at this exciting new vehicle and what it means for LCID stock investors.
10 Things for LCID Stock Investors to Know About the Gravity SUV
- Lucid is schedule to open reservations for the new Gravity SUV in early 2023.
- The Gravity will not actually debut until 2024, but EV enthusiasts are already excited. Lucid is currently expanding its manufacturing facility in Arizona, temporarily constraining production scaling.
- The Gravity will be able seat up to seven passengers with “flexible seating configurations.”
- According to the company, the model boasts a “previously unattainable combination of supercar performance” and spacious seating.
- Per The Verge, the vehicle will include a “glass cockpit,” although this detail is not shown in the official photos.
- The released images of the Gravity do show a glass roof, however, giving the vehicle a distinctly futuristic appeal.
- According to Car and Driver, more details about the Gravity will be released in early 2023 when the company begins accepting orders for the model.
- Lucid has confirmed that the EV will share the same “core DNA” as the Lucid Air. Car and Driver expects the Gravity to be “powered by the same compact 670-horsepower electric motor assemblies and 22-module underfloor battery pack.”
- In addition to the glass cockpit, the front of the new electric SUV will feature high-resolution displays and an “elegant Lucid UX software interface.”
- Lucid has not released a price point for the Gravity yet, but Ars Technica predicts the EV will cost in the ballpark of $200,000.
On the date of publication, Samuel O’Brient did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Samuel O’Brient has been covering financial markets and analyzing economic policy for three-plus years. His areas of expertise involve electric vehicle (EV) stocks, green energy and NFTs. O’Brient loves helping everyone understand the complexities of economics. He is ranked in the top 15% of stock pickers on TipRanks.
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