new-recommended-broker-banner new-recommended-broker-banner
Practice Stock Trading Your Capital Is At Risk

Lucid Group’s Air Dream Longest-Range Vehicle Rated By EPA, Shares Jump

Updated: 17 Sep 2021

Shares of electric vehicle firm Lucid Group (NASDAQ: LCID) are climbing on Thursday after the company revealed it has received an official EPA rating of 520 miles of range.

According to the company, it is the longest-range electric vehicle ever rated by the EPA and over 100 miles of additional range over its nearest competitor.

“I'm delighted that our Lucid Air Dream Edition Range has been officially accredited with a range of 520 miles by the EPA, a number I believe to be a new record for any EV. Crucially, this landmark has been achieved by Lucid's world-leading in-house EV technology, not by simply installing an oversize battery pack,” said Peter Rawlinson, CEO and CTO, Lucid Group.


Other versions of Lucid Air have also received EPA range ratings: 

Source: Lucid Group

On Wednesday, Bank of America analyst John Murphy initiated coverage of Lucid Group with a Buy rating and $30 price target, labelling the company as the “Tesla/Ferrari of new EV automakers.”

Murphy went on to state that Lucid is “one of the most legitimate start-up EV automakers.” However, he did note that his multiples to reach his price target are at a premium compared to Tesla's early trading multiples. 

Lucid's share price is currently up 5.17% at $20.94, adding to Wednesday's over 5% rise. 

Should You Invest in LucidShares?

One of the most frequently asked questions we receive is, “what stocks are best to buy right now?” It's a wide-ranging question, but one that we have answered… Our AskTraders stock analysts regularly review the market and compile a list of which companies you should be adding to your portfolio, including short and longer-term positions. Here are the best stocks to buy right now

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage . 75 % of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money .