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Lucid Motor’s market value passed Ford in market cap on Tuesday to $89.9 billion after reporting the results of reservations for its first vehicle. The market value of Lucid has increased by 24% and it is close to exceeding General Motors, which has a market cap of $90.9 billion.
The electric car company Lucid Motors reported on Monday, November 15th that the reservations for its Lucid Air Electric car has increased from 13,000 to 17,000 during the third quarter of this year. While the reservations through September represented a value of $1.3 billion. Moreover, the company said that its target for 2022 is to produce 20.000 vehicles and also confirmed that the sales will exceed 90,000 billion vehicles in 2023.
In this regard, Lucid CEO Peter Rawlinson mentioned “We remain confident in our ability to achieve 20,000 units in 2022.” He also added: “This target is not without risk given ongoing challenges facing the automotive industry, with global disruptions to supply chains and logistics”
Lucid’s production plans appear to be on track, with the delivery of its first vehicle that took place last month and the unveiling of a new electric SUV that is set to be in late 2023.
For more news about Lucid, check out the following links:
Lucid will release its Air Dream Edition in California On October 30th
Lucid Motors Unveils: Lucid Air the Luxury Electric Sedan
You can also check out Motory website to stay updated with the latest news about cars & other brands.
