Lucid, a company specializing in the manufacture of luxury electric cars, announced that it will produce an economical car priced at $50,000 with the aim of competing with Tesla.
Company President Peter Rawlinson says: “We seek to produce vehicles at reduced prices that compete with Tesla vehicles – the Model 3 and Model Y.”
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Lucid, in which the Saudi Investment Fund owns a majority stake, faced difficult challenges during the year 2023, including a price war between car manufacturers and the company’s failure to reach its goals.
The company’s failure led to the collapse of the value of its shares in the markets, and the company’s shares rose in January 2023 to a price of $17.81 before beginning a long downward journey and closing the current year at a price of $4.21.
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2023-12-30 18:43:01
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