In contrast, Rawlinson is not keen on Tesla’s charging standard right now. It means that Rivian won’t have to build its own charging network, and can instead offer access to Tesla’s extensive network. However, I’ll at least concede that it’s a smart move for Rivian to accept Tesla’s charging standard. I’m certainly not suggesting that this is a sufficient reason to buy RIVN stock right now. In a development you may already be aware of, Rivian Automotive (NASDAQ: RIVN) agreed to adopt Tesla’s EV charging standard. I’ve already pointed out several risks facing Lucid Group and its shareholders. And, as I just pointed out, Lucid Group doesn’t have a stellar capital position. Just the advertising and marketing costs alone will be considerable. In an interview, Rawlinson teased upcoming EV models that will be “competitors” to Tesla’s Model 3 and Model Y.įrankly, it’s going to require a lot of capital to compete head to head with the mighty Tesla. Yet, Rawlinson seems overconfident about his company. 31, 2022, to just $900 million three months later. In fact, Lucid Group’s position of cash and cash equivalents plummeted from $1.736 billion as of Dec. Remember, Lucid is an unprofitable business, and the company’s rapid cash burn is alarming. That won’t likely be enough to put Lucid Group in a strong capital position. After all, it will only provide a $232 million capital infusion to Lucid.
Lucid is riding high on its new partnership with Aston Martin (OTCMKTS: ARGGY), in which Lucid Group will provide EV powertrain and battery systems to Aston Martin.Īs Louis Navellier and the InvestorPlace research staff explained, Lucid Group’s management probably shouldn’t brag too much about the deal with Aston Martin. For example, Lucid Group is boldly making a move into China’s EV market. Rawlinson and Lucid Group are highly ambitious in 2023. Lucid Group’s CEO Prepares to Battle Tesla
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