A Lucid (LCID) insider says the EV market is big enough for the money-losing upstart and profitable heavyweight Tesla (TSLA).
“We’re not deliberately targeting Tesla,” former Dow CEO and current Lucid board member Andrew Liveris told Yahoo Finance Live (video above) when asked about Tesla’s new Cybertruck that just rolled off an assembly line in Texas this week.
Liveris — who is the author of the new book ”Leading Through Disruption” — says the company is focused on delivering more of its luxury EV sedans and bringing an SUV to market.
“I’d like to think that there’s enough total available market for all of us as lucid-board-member-clarifies-stance-on-ev-competition-our-focus-is-not-tesla.html” title=”Lucid board member clarifies stance on EV competition: Our focus is not Tesla”>internal combustion engines fade away,” Liveris added. “The EV market will continue to be big and explode. You’ve just got to scale and get the cash flow to work.”
The EV market may in fact be growing quickly, but consumers have yet to ditch Tesla and fully embrace Lucid’s sleek autos.
Experts say that reflects the relatively high price points of what Lucid is selling…
2023-07-18 08:37:50
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