Lucid Group: Initiation of Coverage – These Are The 3 Biggest Challenges On The Road Ahead For This EV Maker! 

This is our first report on EV major, Lucid Group. The company’s Fourth Quarter 2023 Earnings recognized Lucid’s leaps in gaining industry credibility and numerous accolades over the past few years. The company has also made significant strides in proving its technological competency, through the launch of Lucid Air Sapphire and the Lucid Air Pure, underscoring Lucid’s extension into new total addressable market segments. The company faced hiccups in the ramping up of production for the rear-wheel-drive Pure in Q4, however, they have since overcome these challenges and have fully ramped up production. Further, the macroeconomic environment and higher interest rates have caused some disruption in the automotive market. In Saudi Arabia, Lucid encountered unique market dynamics, which required a different scaling strategy for a successful business growth.