What's Going On With Lucid Stock As It Debuts New 'Lucid Gravity' Electric SUV?

Lucid Group, Inc. LCID shares are trending Thursday after the company introduced its new electric SUV, Lucid Gravity.

The Details:

Lucid introduced its new Lucid Gravity electric SUV at the Los Angeles Auto Show Thursday, and vehicle production is set to begin in late 2024.

The company said that pricing for the Lucid Gravity will start at $80,000, and the SUV will have a projected driving range in excess of 440 miles.
 Peter Rawlinson, CEO of Lucid Group said, "The Gravity SUV represents a significant leap forward for Lucid's world-leading technology and design. Customers will find an unprecedented combination of space and maneuverability, luxury, and versatility, all seamlessly integrated into one remarkable vehicle with the driving experience and range of a true Lucid"

Eric Bach, chief engineer at Lucid said, "Lucid's design and engineering philosophy has always prioritized doing more with less. Gravity applies this principle to offer customers more of what they need – more space, more utility, and more range – while avoiding excess battery cells, added cost of ownership, and unnecessary weight."

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LCID Price Action: According to Benzinga Pro, Lucid Group shares are down slightly by 0.25 % at $4.22 at the time of publication.

Image: Courtesy of Lucid Group, Inc.