Electric car start Lucid overtakes Ford in market value

Lucid Group Inc., in market trading on Tuesday, became the latest startup of electric vehicles to compete with the iconic Ford Motor Co. in market value, another example of how investors’ enthusiasm is intensified for car companies refusing petrol.

Shares of Lucid, a maker of high-end electric cars, rose about 15% in morning trading following the announcement of its first financial results as a public company on Monday afternoon. The rally pushed the company’s valuation to $ 83 billion by noon, surpassing Ford’s for the first time since Lucid’s debut in the public markets over the summer.

.

Leave a Comment

Advertise