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It owns a 500-acre property in Casa Grande, Arizona which offers close proximity to an established transportation system as well as strong support from regional governments. Lucid Motors designs, engineers, and builds electric vehicles but the company is still pre-revenue. We can see why Lucid Motors stock is popular among retail investors. Governments all over the world will continue to support this nascent but highly disruptive market by investing billions of dollars to create a robust infrastructure as well as by providing subsidies to improve demand.Ī report from Allied Market Research has valued the global EV market at $162.34 billion in 2019 and this sector is forecast to touch $802.8 billion by 2027, indicating a compound annual growth rate of 22.6%. The shift towards clean energy solutions will gather pace in the upcoming decade and electric vehicle manufacturers will be at the forefront of this transition. While Lucid Motors (NASDAQ: LCID) stock has more than doubled year to date it’s also down 66% from all-time highs allowing investors to buy the dip. The SPAC deal raised $4.5 billion in equity capital. LCID stock went public earlier this year via a SPAC (special purpose acquisition company) merger with Churchill Capital Corp. One electric vehicle stock that is flying under the radar is Lucid Motors, a company valued at a market cap of $32 billion.
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Most EV stocks including Tesla (NASDAQ: TSLA) surged to record highs by the end of 2020 before investors were worried about steep valuations resulting in a sell-off.
![lucid motors stock lucid motors stock](https://www.electrichunter.com/sites/default/files/field/image/Lucid-Air-luxury-electric-car-2021-2022-02.jpg)
Electric vehicle stocks have taken investors on a volatile ride since the bear market of 2020.