Why Did Lucid Soar 11% on Thursday

InvestorPlace2022-05-20

Lucid (NASDAQ:LCID) has announced plans to open a production facility in Saudi ArabiaThe country will provide Lucid with $3.4 billion in financing and incentivesSaudi Arabia’s investment fund owns a ...

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blessed_1
·2022-05-20
ok
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jxxlxx
·2022-05-20
Good
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OO_898
·2022-05-20
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wallflowere
·2022-05-20
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Ezumu
·2022-05-20
Xhhxhxx
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Ezumu
·2022-05-20
Xhhxhdbxd
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Delvin
·2022-05-20
Yo
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Delvin
·2022-05-20
No
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mster
·2022-05-20
With it car targeting the luxury segment, going into Saudi hits the sweet spot for $Lucid Group Inc(LCID)$. With this new plant, they should able to ramp up productions and deliver some good numbers to investors soon.
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Leo445
·2022-05-20
Ok
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Leo445
·2022-05-20
Ok
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Dragon1976
·2022-05-20
Roar
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WarisHeng
·2022-05-20
Ok
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Year-to-date (YTD), the electric vehicle (EV) stock has lost about 50% of its market capitalization. Shares of LCID rose 11% on Thursday.Upon completion, Lucid’s new facility will be capable of manufacturing 155,000 vehicles a year. The facility will also initially only serve the Saudi Arabian market. Over the next 15 years, Lucid is expected to receive up to $3.4 billion in financing and incentives from Saudi Arabia.Lucid has a tight-knit relationship with Saudi Arabia, as the country’s Public Investment Fund (PIF) has a 60% stake in the company. PIF acquired this stake back when Lucid was still a private entity. Last month, the EV company reached an agreement with Saudi Arabia for the country to purchase 100,000 vehicles over the next 10 years.While it may not immediately affect production output, this new facility is still huge news for the EV maker. Let’s get into the details.LCID Stock: Lucid Discloses Saudi Expansion PlansLucid’s production facility in Arizona will eventually have an output of 350,000 EVs per year. So, coupled with the Saudi facility, the company now expects a capacity of 500,000 cars per year by 2025. That estimate is five years ahead of the previous estimate of 500,000 vehicles by 2030.During its first-quarter earnings, Lucid gave 2022 production guidance of between 12,000 to 14,000 vehicles. 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it car targeting the luxury segment, going into Saudi hits the sweet spot for <a href=\"https://ttm.financial/S/LCID\">$Lucid Group Inc(LCID)$</a>. With this new plant, they should able to ramp up productions and deliver some good numbers to investors soon. &nbsp;","listText":"With it car targeting the luxury segment, going into Saudi hits the sweet spot for <a href=\"https://ttm.financial/S/LCID\">$Lucid Group Inc(LCID)$</a>. With this new plant, they should able to ramp up productions and deliver some good numbers to investors soon. &nbsp;","text":"With it car targeting the luxury segment, going into Saudi hits the sweet spot for $Lucid Group Inc(LCID)$. With this new plant, they should able to ramp up productions and deliver some good numbers to investors soon.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9021168569","repostId":1177657542,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9021168068,"gmtCreate":1653013823854,"gmtModify":1676535208591,"author":{"id":"3574660944954697","authorId":"3574660944954697","name":"Leo445","avatar":"https://static.tigerbbs.com/1bc02f8aa5a38bccce60c6a3c3727771","vip":1,"crmLevel":4,"crmLevelSwitch":0},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9021168068","repostId":1177657542,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9021161770,"gmtCreate":1653013816390,"gmtModify":1676535208584,"author":{"id":"3574660944954697","authorId":"3574660944954697","name":"Leo445","avatar":"https://static.tigerbbs.com/1bc02f8aa5a38bccce60c6a3c3727771","vip":1,"crmLevel":4,"crmLevelSwitch":0},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9021161770","repostId":1177657542,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9021169546,"gmtCreate":1653013545585,"gmtModify":1676535208549,"author":{"id":"3581667755269715","authorId":"3581667755269715","name":"Dragon1976","avatar":"https://static.tigerbbs.com/490476b6972495f8a3fcdcab33e93aa0","vip":1,"hat":"https://static.tigerbbs.com/a3dee1aa3a3a3c1814833a4d3f8a5669","crmLevel":2,"crmLevelSwitch":1},"htmlText":"Roar&nbsp;","listText":"Roar&nbsp;","text":"Roar","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9021169546","repostId":1177657542,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9021160965,"gmtCreate":1653013300657,"gmtModify":1676535208492,"author":{"id":"4089459519603980","authorId":"4089459519603980","name":"WarisHeng","avatar":"https://static.tigerbbs.com/f152c428f94eef79d97567fa3c7400da","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9021160965","repostId":1177657542,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":103,"commentSize":13,"repostSize":0,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false}}