Lucid Group (NASDAQ:LCID), a producer of electrical autos that’s concentrating on the posh section with the soon-to-be-delivered Lucid Air EVs, is actually no stranger to hypothesis, with distinct waves of conjecture nipping on the proverbial heels of the corporate since its pre-merger days.
After all, with a scarcity of hype-inducing developments within the interim and the related dearth of official communication from ‘strait-laced’ administration, annoyed Lucid Group buyers have been pressured to hunt solace in choosing aside after which analyzing to loss of life the slightest of trivialities.
This brings us to the crux of the matter. Two photos of Mr. Peter Rawlinson, the CEO and CTO of Lucid Group, have set off a contemporary wave of hypothesis:
As can been seen, Mr. Rawlinson seems in each photos with a jubilant facial features and a bizarre four-fingered gesture, thereby spawning conjecture on Reddit and different social media boards. Some imagine that the gesture refers back to the supply timeline of the Lucid Air EV, presently slated for someday in H2 2021. After all, with just a bit over 4 months left until the top of the yr, this line of reasoning could show prescient. Others imagine that the gesture refers back to the supply timeline in weeks and never months. And but, there are others who imagine that the gesture refers back to the potential companions of the Lucid Group, together with the sought-after Apple partnership. As is obvious, these photos could be interpreted in various methods with none inkling as to their true interpretation.
Whereas the dialogue round these photos has a hilarious undertone, it does mirror the rising nervousness amongst Lucid Group bulls. In spite of everything, the inventory wants hype to climb the proverbial worth ramp, and but right here we’re in a veritable drought.
Towards this backdrop, let’s check out what we definitively know thus far. Lucid Air deliveries will materialize earlier than the top of 2021. The corporate has already constructed dozens of high quality validation builds as a part of its ongoing remaining testing part, and the much-anticipated EV is presently present process EPA testing as a way to validate the automobile’s claimed vary of over 500 miles on a single cost. Moreover, Lucid Group presently has over 10K reservations for the Air EV and expects to ship at the very least 20K items to the North American and EMEA markets in 2022, with deliveries to China commencing solely in 2023. Furthermore, the Lucid Gravity SUV is now slated to launch in H2 2023. The corporate can be prioritizing $350 million in CAPEX for 2021-2023 as a way to add 2.7 million sq. toes of extra manufacturing area at its Arizona facility for manufacturing ramp-up.