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Benzinga
Benzinga
Business
Shivani Kumaresan

This Tesla Rival Looks To Expand Footprint Outside US Amid Demand For EVs

Lucid LCID Nasdaq United States Germany Lucid Group, Inc. electric vehicles Europe Luxury Norway
  • Lucid Group Inc (NASDAQ:LCID) is planning to launch its luxury electric sedans in Europe later in 2022, Reuters reported.
  • The Tesla, Inc.(NASDAQ:TSLA) rival aims to expand its footprint outside the U.S. amid strong global demand for electric vehicles (EVs).
  • The company plans to launch its Lucid Air Dream Edition P and R sedans in limited numbers for customers in Germany, the Netherlands, Switzerland, and Norway in late 2022.
  • The report noted Lucid would price its Air Dream Edition P/R at about €218,000 ($230,208.00) in Germany.
  • Lucid last week reiterated its 2022 production volume outlook of 12,000 to 14,000 vehicles.
  • Price Action: LCID shares are trading higher by 2.29% at $16.73 in premarket on the last check Tuesday.
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