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Lucid Motors: A Lot of Price Fantasy and Full Throttle Into November

After the rapid price gains in the last week of October, the rally in the Lucid Motors share continues in November. In early US trading, the electric car maker's papers were up over five percent before they had to give up some of the profits.

The first deliveries of the Lucid Air electric vehicles ensure a lot of price fantasy in the new trading week. Last Saturday the first customers got their copies delivered and despite a proud purchase price of around 170,000 dollars, the Air offers a lot that inspires.

On paper, for example, the Lucid Air is much better off than the Tesla Model S, with a range of 451 to 520 miles. The first reviews of the new premium electric vehicle are mostly positive - Dan Neil from the Wall Street Journal is even raving about it, calling the Luci Air "a worthy Tesla opponent."

"With industry-leading range and a dual-motor array maxing out at 1,111 hp, the Lucid Air Dream Edition Performance marks the arrival of another serious contender in the electric luxury-sedan market," Neil writes.

Lucid Motors' Major Price Drivers

The start of Lucid Air deliveries, an investor event in Saudi Arabia and the run on the Tesla share are currently the major price drivers for the Lucid share. After the strong price gains of over 50 percent last week, however, a consolidation now seems more due, writes Benedict Kaufmann in Der Aktionar.

However, there is currently a lot of hype in the EV market, which, contrary to the currently too high valuation, could drive the shares even further.

Let me know your general thoughts about Lucid Motors and Lucid air please. Do you think it's a worthy opponent to Tesla?

Armen Hareyan is the founder and the Editor in Chief of Torque News. He founded in 2010, which since then has been publishing expert news and analysis about the automotive industry. He can be reached at Torque News Twitter, Facebok, Linkedin and Youtube.

Image by Sawyer Merritt, used with permission.