There's a lot of great EV discussion here on HN but I don't see Lucid mentioned very often, which is a shame because they look like a real Tesla competitor and another company that could help bring mass commercialization of EVs, especially in the US where they're building them.
The TL;DR is that CCIV is a SPAC funded by Saudi money (about $4B worth) that just merged with Lucid (it was created for that purpose), so now the car company is fully funded for production and went public with their stock.
> There's a lot of great EV discussion here on HN but I don't see Lucid mentioned very often
That is the problem is see on this site. All they know is Tesla when there are other competitors around also competing for the EV market. Wasn't Tesla themselves not mentioned often before they listed on the NASDAQ? Clever people saw this as an opportunity for their 'first-move advantage'. Now in 2021, Tesla stock looks somewhat 'priced in' and the competitors are 'catching up'.
Obviously, it is not the only full EV company, but here's another opportunity with another US-based EV company.
This is what I want to see. More competition from outsiders and not being married to a particular company stock, because 'I know people who use it right now'. The fact that it is not talked about IS the opportunity.
My favorite thing about Lucid is that they have Tesla DNA but, it seems, a different approach to ethics and PR. I read their entire prospectus cover-to-cover and it is refreshingly free of any Elon-style hype. (Lucid's founder was Tesla's chief engineer and is clearly choosing to model his own company differently.)
Their business model is remarkably simple and clear. The product seems to be targeting a very high level customer (much higher level than Tesla). And they've made incredible progress on their own battery factory and car assembly plant.
Fun fact, Lucid was in the battery business before cars and their batteries are used in every Formula EV car currently racing.
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[ 3.2 ms ] story [ 21.0 ms ] threadThe TL;DR is that CCIV is a SPAC funded by Saudi money (about $4B worth) that just merged with Lucid (it was created for that purpose), so now the car company is fully funded for production and went public with their stock.
That is the problem is see on this site. All they know is Tesla when there are other competitors around also competing for the EV market. Wasn't Tesla themselves not mentioned often before they listed on the NASDAQ? Clever people saw this as an opportunity for their 'first-move advantage'. Now in 2021, Tesla stock looks somewhat 'priced in' and the competitors are 'catching up'.
Obviously, it is not the only full EV company, but here's another opportunity with another US-based EV company.
This is what I want to see. More competition from outsiders and not being married to a particular company stock, because 'I know people who use it right now'. The fact that it is not talked about IS the opportunity.
Their business model is remarkably simple and clear. The product seems to be targeting a very high level customer (much higher level than Tesla). And they've made incredible progress on their own battery factory and car assembly plant.
Fun fact, Lucid was in the battery business before cars and their batteries are used in every Formula EV car currently racing.