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StockNews.com
Business
Anushka Dutta

What Should Investors Do With Lucid Group (LCID) Shares This Week?

LCID Aston Martin Lucid Group, Inc.

Automotive company Lucid Group, Inc. (LCID) engages in the Electric Vehicle (EV) business. The company recently reached a deal with carmaker Aston Martin, giving LCID a 3.7% stake in return for access to its high-performance technology to produce EVs. This could be strategically beneficial for the company.

However, the company faces intense competition in the EV market. Its second-quarter production declined, presumably due to Tesla, Inc.’s (TSLA) price war that intensified competition in the EV industry. The company delivered 1,404 vehicles in the quarter, compared with 1,406 deliveries in the previous quarter, while its production fell 6% sequentially to 2,173 vehicles.

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