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Lucid Soars on Plans to Begin Luxury Electric Sedan Deliveries in October

Published 29/09/2021, 13:52
Updated 29/09/2021, 13:52
© Reuters

© Reuters

By Dhirendra Tripathi

Investing.com – Lucid stock (NASDAQ:LCID) traded 6.5% higher in Wednesday’s premarket as the company said the buyers of Lucid Air Dream Edition models, its luxury electric sedans, will begin to get their vehicles late next month.

Grand Touring, Touring, and Air Pure model deliveries are expected to follow. Lucid said in a statement it has received more than 13,000 reservations so far for Lucid Air and increased the planned total production volume for the Dream Edition to 520 vehicles.

The launch heats up the stakes in the electric vehicle industry, where Tesla still has a substantial first-mover advantage, despite the ramp up of efforts by legacy carmakers like General Motors (NYSE:GM) and Ford (NYSE:F). 

Earlier this month, the Environmental Protection Agency certified that the range of the company's Air Dream Edition Range of cars outstrips any other in the EV space, including the most popular Tesla (NASDAQ:TSLA).

Lucid’s 19-inch wheel secured a rating of 520 miles on one full charge from the EPA, making it the longest-range EV ever rated by the body. That title so far belonged to Tesla's Model S Long Range Plus.

Taken as a whole, the Lucid Air models now occupy the top six positions for overall EPA range ratings among all EVs, the company claimed.

 

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