mobile-menu-icon
Ford Authority

EV Startup Lucid Worth $74 Billion; Within Striking Distance Of Ford

It’s no secret that Wall Street is hot for EV stocks at the moment, with Tesla hitting the lofty $1 trillion mark recently after a surge in its share price, followed by Rivian’s stock doubling in just five days following its IPO, making the upstart EV automaker more valuable than both Ford and General Motors. Now, yet another EV startup is worth nearly as much as Ford, and it’s Lucid – another fairly new name in the world of electric vehicles that just launched its very first vehicle – the Air.

As of this writing, Lucid’s market cap stood at $74 billion, which is actually down a bit as many investors have sold off their EV stocks today and are taking a profit. That’s still pretty close to Ford’s market cap of $77 billion, however, and not terribly far behind GM at $86 billion. Rivian hit $91 billion in its first day of trading before soaring to $150 billion, earlier this week, making the Ford-backed automaker the largest company in the U.S. with zero revenue.

Ford CEO Jim Farley recently named Tesla, Rivian, and Volkswagen as threats as The Blue Oval works to become a major player in the electric vehicle market, but declined to mention Lucid, a company that FoMoCo had the opportunity to acquire a little over four years ago. Instead, Ford outmaneuvered GM and landed a deal with Rivian some time later, an investment that has thus far paid major dividends.

Currently, the Air is the only vehicle Lucid produces, an all-electric sedan with a starting MSRP of just over $77k. However, the automaker plans on adding more models – including at least one SUV – to its lineup in the coming years. Working in the company’s favor is the fact that its CEO – Peter Rawlinson – used to work for Tesla, and helped engineer its very first vehicle, the Model S, which is the Air’s main rival.

We’ll have more on everything Ford and Lincoln’s competition is up to soon, so be sure and subscribe to Ford Authority for ongoing Ford news coverage.

Brett's lost track of all the Fords he's owned over the years and how much he's spent modifying them, but his current money pits include an S550 Mustang and 13th gen F-150.

Subscribe to Ford Authority

For around-the-clock Ford news coverage

We'll send you one email per day with the latest Ford updates. It's totally free.

Comments

  1. Stephen Ketterer

    Flash in the pan

    Reply
  2. Roy Chile’s

    4yrs ago? DUM Jim Farley should have seen this coming, but No he and the others who want to believe the Big Lie that sedans don’t sale. Should have invested in both Rivian and Lucid bring over the new Zephyr and build a Suicide door Continental EV at the same time as MACH E.. LINCOLN suffers living in the shadows of FORD SUVs, Lucid will be my luxury go to company in the future

    Reply

Leave a comment

Cancel