Better Electric Vehicle Stock: Nio or Lucid Group?
Many people who follow the electric vehicle (EV) sector have been waiting to see if Lucid Group (NASDAQ: LCID), formerly Lucid Motors, will emerge as the first direct challenger to market leader Tesla (NASDAQ: TSLA).
There are several reasons to make that comparison. One is that Lucid CEO Peter Rawlinson is a former Tesla employee, and he was the chief engineer in the design of Tesla's Model S sedan. Another is that Lucid is initially targeting the luxury sedan EV market, and claims to have a much superior battery range than Tesla's Model S. But with a market cap of more than $700 billion, Tesla is valued by investors as much more than just an EV maker.
Perhaps a more appropriate comparison for investors is to look at Lucid versus a manufacturer closer in valuation and level of development: Chinese EV company Nio (NYSE: NIO). Let's compare the two companies and their stocks.
Source Fool.com
