Is lucid stock a bottom for LCID stock?

The Saudi Government ordered up to 100k Lucid EVs over the next 10 years. LCID shares are trading near the $15 initial SPAC pricing offer and this positive news could signal a bottom for LCID stock. Lucid is the only realistic competitor to unseat Tesla as the king of electric vehicles.

How many vehicles did lucid produce in Q2?

Earlier this week, Lucid announced that it had produced 2,110 vehicles and delivered 2,394 vehicles in the second quarter. The company also announced that it will be publishing its Q2 results and hosting a conference call after the market has closed on Aug. 5. In this year's first quarter, Lucid produced 1,728 vehicles and delivered 1,967 vehicles.

Who owns lucid EV?

The Saudi PIF currently owns more than 60% of Lucid and has been a key source of funding for the business. The EV specialist aims to establish itself as a major player in the EV market and leverage economies of scale to shift into profitability, but it's still posting sizable losses.