Lucid Motors' Massive Losses Per Car and Rivian's Plummeting Stock Shake EV Investors
Lucid Group Inc., an electric vehicle startup, is facing investor skepticism as it burns through $338,000 for every vehicle it produces this year and struggles to ramp up sales. The stock has dropped nearly 25% this year, while rival Rivian Automotive Inc. has only declined 1%. Lucid's average 2023 sales estimate has plummeted by almost 50% in the past six months, while Rivian's has risen by about 5%. Lucid's deepening losses, slower sales growth, and potential default risk have raised concerns among investors, while Rivian's larger addressable market and stronger sales performance have positioned it in a better place.
