Here's Why Lucid Is Far Behind in the EV Race
Building a company from the ground up in a capital-intensive industry is difficult to do. It is even more difficult when that industry has a small number of large and entrenched leaders. But this is exactly what Tesla (NASDAQ: TSLA) managed to achieve, effectively creating the electric vehicle (EV) market that exists today.Lucid (NASDAQ: LCID) is trying to recreate that magic. It has a long way to go before it is anywhere near Tesla or other EV peers, like Rivian (NASDAQ: RIVN). Here's why.Before Tesla, the notion of mass-producing electric vehicles was a dream. Electric vehicles were the play toys of auto enthusiasts and a fanciful talking point for environmental buffs. Tesla changed the dynamic by, literally, building the first mass-produced EVs. They started out as high-end cars that only the rich could afford, but the costs have dropped significantly over time as Tesla has ramped up production and broadened its vehicle lineup.Continue reading
Building a company from the ground up in a capital-intensive industry is difficult to do. It is even more difficult when that industry has a small number of large and entrenched leaders. But this is exactly what Tesla (NASDAQ: TSLA) managed to achieve, effectively creating the electric vehicle (EV) market that exists today.
Lucid (NASDAQ: LCID) is trying to recreate that magic. It has a long way to go before it is anywhere near Tesla or other EV peers, like Rivian (NASDAQ: RIVN). Here's why.
Before Tesla, the notion of mass-producing electric vehicles was a dream. Electric vehicles were the play toys of auto enthusiasts and a fanciful talking point for environmental buffs. Tesla changed the dynamic by, literally, building the first mass-produced EVs. They started out as high-end cars that only the rich could afford, but the costs have dropped significantly over time as Tesla has ramped up production and broadened its vehicle lineup.
