No service network. No charging network. A single $170,000 p...
No service network. No charging network. A single $170,000 product with zero track record. $Tesla (TSLA.US)$ was struggling to survive when the $80,000 Model S was their only offering because it was so expensive that only a small % of buyers could consider it. Musk was sleeping on the factory floor as the Model 3 was entering into production and the company barely survived the launch of the $35,000 car (now $40,000+). The Lucid product is more than double that price.
Will $Lucid Group (LCID.US)$ survive in a much more crowded market segment with competition like Porsche, Audi, Volvo along with Tesla on the high end and $Ford Motor (F.US)$ , Kia, $HYUNDAI MOTOR CO GDR EACH REP 1/2 PFD N/VTG(REG'S')(CIT) (HYMTF.US)$ and $General Motors (GM.US)$ on the lower end of the market? Maybe, I suppose anything is possible.
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sPhCqxPcWZ : The only thing Lucid will pass, is my dollars down the toilet line (if I was to believe in what this author is saying).
I3kmETh4aA : Well said.
What no one realizes is that the EV mania will soon crash into the ceiling of the stagnant, mature overall vehicle market. Much sooner than EV investors expect, the EV market will become crowded, sluggish and highly competitive. Niche, start-up companies like Lucid will be struggling to stand out and market successfully among established ICE manufacturers advertising incessantly on national and local TV, in local newspapers and in social media with dealerships and showrooms in every little town in America. Lucid is especially vulnerable given its focus on a small sliver of very high-end buyers, limiting its TAM severely.
Happymoooooo I3kmETh4aA : EVs will dominate all auto sales as soon as battery production allows because the demand is already there and will only grow as quickly as one friend lets another drive their EV. 10 seconds behind the wheel of my Model S has left everyone who’s driven it wishing it was theirs.
4W7smhOHmW : Funny. Blackberry CEOs and users said the same about their company: untouchable.
GM and Ford were untouchable also and they laughed at Toyota.
sbSeUJwoWL : Uhh TSLA service is questionable as well.
There are plenty of third party chargers out there now and growing.
Tesla struggled in the early days with an expensive EV when NO ONE wanted EV's, that has changed significantly.
Tesla is actually on the low end of the market because they produce a fraction of the cars all those manufacturers do, and because of their persistent quality issues.