Photo: Motortrend
Just weeks after Lucid Motors’ first deliveries of the Lucid Air took place at a delivery event in California, the company’s head is already eyeing Tesla levels of financial success.
Lucid Motors CEO Peter Rawlinson said the company’s recent stock surges evidence the company’s standing to someday be valued like Tesla, according to CNBC. Lucid’s stock jumped by over 11 percent prior to Tuesday’s market open.
Lucid Air Wins Motortrend 2022 Car of the Year https://t.co/E45pzg0atv
— TeslaNorth.com (@RealTeslaNorth) November 15, 2021
Rawlinson, a former Tesla executive, thinks that Lucid’s valuation will surpass traditional automakers, with its market capitalization already at $73 billion USD and approaching that of Ford’s at $79.4 billion USD.
Lucid is still a long way off of Tesla’s valuation, which is $1.02 trillion USD, though Rawlinson thinks the “sky is the limit,” when it comes to Lucid’s potential valuation.
On Monday in an interview with CNBC following Lucid’s first reported quarterly results since going public, Rawlinson told CNBC during an interview Monday, “I think the sky’s the limit in terms of valuation, but it’s all about execution.” Rawlinson continued, “It’s all about execution, it’s all about scaling volume. And that’s my focus. And I think the share price lookup is a result.”
Lucid Motors told investors on Monday it now has over 17,000 reservations for the Lucid Air, up from 13,000 in Q3.
Lucid also opened its first studio in Washington D.C. earlier this month, adding to the company’s other studios located in New York and Florida. Yesterday, Motortrend awarded the Lucid Air as the publication’s car of the year for 2022.
