Lucid Group Inc., a luxury electric vehicle manufacturer backed by the Saudi government, is increasingly reliant on its new Gravity SUV to drive sales growth forecasted for 2025. Despite technological advancements, the company faces challenges in a competitive market, as it cuts prices to increase competitiveness. The recent announcement of management changes, including the resignation of the CEO, further adds to uncertainties. Analysts predict potential financial struggles, warning that Lucid may run out of funds or face privatization by the end of the decade, amidst a backdrop of stock price volatility.
Lucid Group Inc., renowned for its luxury electric vehicles, now faces challenges with leadership changes and market performance as it aims for growth.
Despite advancements in EV technology, Lucid's high price point and recent price cuts signal a tough market ahead for the luxury electric vehicle maker.
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