Lucid Group eyes timing for launch in China
Nikada
Lucid Group (NASDAQ:LCID) Chief Engineer Eric Bach confirmed during an interview that the electric vehicle maker is looking to sell cars in China at some point in the future and has made initial investments.
"Every car manufacturer has to look very deeply or has already looked into China. Itâs the worldâs largest car market. Itâs going to be likely the worldâs largest and fastest adopting EV market as we can see," Bach told CNBC on the sidelines of the IAA auto show in Munich, Germany.
Bach noted that the timing of a China launch by Lucid (LCID) has not been determined due to the risk of entering on the wrong terms. The company is said to be exploring pricing and manufacturing strategies for entering China in order to get the launch right.
Shares of Lucid Group (LCID) were down 0.33% in premarket trading on Thursday to $6.12 vs. the 52-week trading range of $5.46 to $17.81. Lucid (LCID) is one of the U.S. automakers that could benefit if a crippling United Auto Workers strike slows down the aggressive electric vehicle plans of the legacy Detroit automakers. That labor development will play out over the next week.

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