Lucid Sapphire model: Lucid Group, the company known for manufacturing the world’s most famous electric race car, witnessed a decline in its shares recently. The company launched an affordable model of their electric luxury sedan car in order to increase the demand for their product. Despite this news, the company’s shares recorded a 7% decline on Thursday.
The management of the company has announced another launch, which is the introduction of the air electric luxury sedan car’s single-motor, rear-wheel-drive model in the market. This sedan will offer customers a range of 410 miles, with prices starting at $77,400. It is worth mentioning that the price of this new model will be cheaper than all previous versions.
It is believed that the sedan is priced at less than $5,000 compared to all previous models. The company has also mentioned the option to place orders for this model. The single-motor air pure model is available in the company’s stock. Looking at the figures until last Thursday, the company’s shares have witnessed a decline of more than 24% since the beginning of 2023. Despite the positive reviews of the company’s air model by critics, concerns remain regarding the company’s shares.
Lucid has claimed to have the longest range for an electric vehicle. On the other hand, other companies in the electric vehicle manufacturing sector, including the renowned Tesla, have reduced the prices of their vehicles.
The company’s air pure model, which is a rear-wheel-drive model, is priced at the lowest starting price of $80,000. This model is considered to be the cheapest car offered by the company. The top model of this variant, the 1,234-horsepower Sapphire model, is priced at $249,000.
It is worth mentioning that the company has not included its third quarter production and delivery in its financial results so far. However, the company is expected to announce its financial results for the third quarter in the beginning of November.
Summery:
– Lucid Group, the famous electric car manufacturer, has seen a decline in its shares recently.
– The company has launched an affordable model of its air electric luxury sedan to increase demand.
– The sedan offers a range of 410 miles and starts at a price of $77,400.
– The new model is cheaper than all previous versions of Lucid’s cars.
– Despite positive reviews from experts, the company’s shares continue to decline.
– Lucid claims to have the longest range for an electric vehicle.
– Other companies in the electric vehicle manufacturing sector, including Tesla, have reduced their vehicle prices.
– Lucid’s air pure sedan model offers the lowest price starting at $80,000, with a top model priced at $249,000.
– The company has not yet added its third quarter production and delivery numbers.
– Lucid’s shares have seen a decline of over 24% since the beginning of 2023.
