Lucid Motors is opening up their first studio in Europe on May 13th. That studio is located in Munich Germany and it could not come at a better time for Lucid Motors.
Along with the European expansion, a tweet from Lucid Motors on Monday showed a LucidAir Dream Edition coming off the load truck in Canada. This was absolutely huge news for Lucid. There has been a string of such great news of late and the stock price continues to go down which is discouraging investors very badly. My advice for discouraged investors is to look at what the company is doing, not the stock price.
Lucid Motors Had A Great Earning Report
They had an Earnings Beat for Q1 Sales and EPS. As well as, they produced 700 vehicles in the Quarter. This was a huge number and they reiterated the 12-14,000 vehicle numbers. Pair that with an increase in reservations to 30,000 vehicles, not to mention the 50,000 vehicle order from the Saudi Arabian Government. That deal has the option to double the order to 100,000 vehicles.
Lucid Motors has also signed a deal with Nvidia and Wolfspeed. Nvidia is going to help with Lucid Motors Dream Drive Pro and Wolfspeed will provide Lucid with next generation semiconductors.
Lucid Motors Is Going Into Norway, Switzerland, Netherlands and Germany
Lucid Motors is offering reservations for the Dream Edition P’s and R’s in Norway, Switzerland, Netherlands and Germany. This was great news and something that came as a surprise for Lucid supporters. Lucid wants to build its brand and they already are an established luxury EV maker, now they hope to take that brand name to new heights.
I absolutely love Lucid Motors plan, they took what Tesla was trying to accomplish with the Tesla Roadster and scale down to more affordable vehicles. Lucid is doing the exact same thing. They want to reduce the amount of production hell that Tesla experienced during 2017-19. This is a great plan that increases Lucid Motors success rate very well.
My Thoughts On Lucid Motors Latest Expansion
The expansion into Europe could not have come at a better time. Lucid Motors is hitting on all cylinders right now, their stock price has collapsed but so has every stock price at the moment. My advice for anyone on how to play Lucid Motors stock price is to just be patient. You are investing into a $26 Billion company that has significant potential. Many people will be wrong about Lucid Motors because they may not fully understand the technology and the growth prospects. But people also missed out on Tesla.
Lucid Motors is a great company that is doing all the right things. I am happy to be a part of the Lucid community and will continue to educate on their unbelievable growth. Everytime Lucid Motors continues to expand, it just goes to show you that this company is building a great brand.
Anthony Donati focuses on electric vehicles and renewable energy companies. He covers Lucid Motors news at Torque News. Please follow him on Twitter at @TheLucidVerse for daily Lucid Motors news. He has a degree in Business Administration with a concentration in Finance. DISCLAIMER: Anthony is a Lucid Motors (LCID) stock holder.
Images Courtesy of Lucid Motors Gallery