The Lucid Company, in which the Saudi Investment Fund owns a majority stake, has announced the offer of a low-priced economy car, while the company’s shares continue to fall continuously, closing yesterday, Thursday 29 December, at the price of $4.26. per share.
The company, which specializes in luxury electric cars, has announced a budget car priced at US$50,000 scheduled for production in 2025 AD, aiming to compete with Tesla cars.
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Company president Peter Rawlinson says, “We seek to produce cost-effective vehicles that compete with Tesla vehicles: the Model 3 and the Model Y.”
Lucid faced major challenges, its shares plummeted to very low levels and sales were weak.
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2023-12-28 23:37:01
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