Stock Track | Lucid Group Soars 6.97% as CEO Says Company "Mostly Immune" to EV Tax Credit Cuts

Stock Track11-18 23:24

Lucid Group Inc. (LCID) shares surged 6.97% intraday on Monday, as the company's CEO Peter Rawlinson said that Lucid is "mostly immune" to the potential EV tax credit cuts planned by former President Donald Trump.

In an interview, Rawlinson stated that Lucid's pricing strategy for its luxury electric vehicles targets customers who are less reliant on government incentives. He expressed confidence that the company's position in the high-end EV market would insulate it from the impact of reduced tax credits.

The CEO's comments provided reassurance to investors, driving Lucid's stock higher amid concerns about the potential policy changes that could affect the broader EV industry.

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