The shiny company overtakes Ford and is close to skipping General Motors!

Lucid Group’s market value surpassed Ford Motor Company’s market value on Tuesday, reaching $ 89.9 billion, after a 24% share price hike, after the company’s executive management revealed a significant increase in bookings. for his prime auto and production plans for 2022 are not yet on the right track.

After overtaking Ford, Lucid is about to overtake General Motors, which has a market capitalization of $ 90.9 billion.

For his part, Lucid Group CEO Peter Rawlinson believes the stock still has a long way to go to outperform traditional automakers and ultimately be compared. in value to Tesla.

Rawlinson, a former Tesla executive, often compares Lucid to Tesla in terms of internal technologies and overall development of electric vehicles.

Since the company went public through a special purpose acquisition company in July, Lucid’s share price was up more than 80% as of Monday’s close.
And it seems that the contagion of the increases in the shares of the companies of auto has infected Rivian, which was put on last week in public subscription, as its market value has risen to $ 140 billion.

On the other hand, Lucid Company started delivering his prime auto “Lucid Air” last month andauto it can travel 520 miles on a single charge.

Monday theauto was also named Car of the Year by MotorTrend, a prestigious award in the automotive sector.

Lucid plans to produce 20,000 Lucid Air sedans in 2022, generating over $ 2.2 billion in revenue.

The company told investors Monday that more than 17,000 pre-books were made for its Air sedan, up from 13,000 at the end of the third quarter.

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