Lucid to Launch Vehicles in European Market This Year

[Asia Economy Reporter Yujin Cho] Lucid, a U.S. electric vehicle company regarded as a rival to Tesla, will start selling vehicles in the European market from this year, CNBC, a U.S. financial media outlet, reported on the 5th (local time).

According to the report, Lucid Group announced on Twitter the day before that "we will start selling electric vehicles in the European market from this year."

Earlier, last year, Peter Rawlinson, CEO of Lucid, had announced that the Air would be launched in the Middle East and Europe starting this year, and in the Chinese market from 2023.

Lucid began accepting online reservations for its first model, the Air sedan, targeting 15 European countries from January 2020, but did not disclose the exact delivery timing.

Lucid's Air sedan began production last September at the Casa Grande factory in Arizona, USA.

The U.S. Environmental Protection Agency (EPA) assigned a driving range rating of 520 miles to Lucid's Air sedan, setting a record that surpasses Tesla's Model S driving range.

Lucid entered Nasdaq last July through a merger with a Special Purpose Acquisition Company (SPAC). Since then, it attracted market attention as the 'Next Tesla,' with its stock price nearly doubling, but it has been in a sharp decline since last month following the release of an investigation result by U.S. authorities.

As of the previous day's closing price, Lucid's stock closed at $36.68, down 6.93% from the previous session, marking a 34% drop compared to the high of $55.52 in November.

This content was produced with the assistance of AI translation services.