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Barchart
Barchart
Mohit Oberoi

As Lucid Motors Stock Falls to Record Lows, Is a Saudi Buyout the Last Resort?

Lucid Lucid Motors PIF Tesla Inc. Elon Musk Lucid Group LCID RIVN Saudi Arabia

Things are getting from bad to worse for startup electric vehicle (EV) companies. Yesterday, Lucid Group (LCID), Rivian (RIVN), and VinFast (VFS) all fell to record lows after Ford (F) intensified the price war by lowering the prices of its F-150 Lightning pickup.

The EV price war has taken a toll on startup EV companies’ profitability – or, to put it correctly, amplified their losses. Lucid Motors, for instance, reported an operating loss of around $3.1 billion in 2023, which was wider than the 2022 loss of $2.6 billion.

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