The company has a market value of more than $41 billion despite the fact that its first cars are just rolling off the assembly line.
John Rosevear: The key here is valuation, and I’m going to leave it up to readers to decide whether a company that just began shipping a few vehicles that has a $41 billion market cap is cheap or expensive.
Former Ford CEO Alan Mulally, who many Fools will remember, including me, as the person who powered that wonderful run in Ford’s share price that we saw in the first half of the last decade, is advising Lucid.
But now it’s show time for everybody, including Tesla and the Air had to be perfect going out the door and he advised them to put extra steps in the plan to ensure that and they did, and that’s why they waited till September to begin production.
Early reviews have been phenomenal that this is a wonderful car to drive that offers a genuine luxury experience and is faster than the proverbial scalded small animal.
But I think if you look at the timing of certain announcements by Elon Musk when they announced range boosts to some cars and so forth, they’re watching Lucid closely.
I have not been able to bring myself to pull the trigger on the stock, although it’s a company where we’re talking about leadership teams and so forth.
I really like who they are and their sense and I really like their sense of themselves and their position in the industry and that they’ve delivered on all of their promises so far, which is not always something we’ve seen in this space, not only Tesla, but Tesla certainly where they’ll come out and say three months maybe, six months definitely, and then it’s sometime further down the road.