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Quelle surprise.
I did a dive into them the other day. I don’t see a plausible path to profit.
The news that they’re planning to cut spending, though, and scale down to mkre realistic production targets…
Same guys who started Tesla make the same mistake on their own. Lucid just needs a cult of stans for infinite money.
That’s the thing, they have tapped in to a well of money; they have the backing of the Saudis to a large extent. So they do have some runway, as there’s some heavy political commitments there. The Saudis want diversity and they built a factory there.
So they have their stans, for a while.
