Is a Lucid EV Truck On the Way?
Many investors have wondered if a Lucid (NASDAQ: LCID) electric pickup truck is on the way. After all, the electric vehicle (EV) maker has a well-received Air EV sedan and an upcoming Gravity EV SUV, so why not a pickup? Ford, Rivian, General Motors, and Stellantis, among others, all have EV trucks on the road, or soon to be. However, if recent hints hold true, don't expect a Lucid EV truck anytime soon, and there's a good reason behind it -- for now.
If you've been invested in the automotive industry, conventional wisdom tells us that trucks drive big bucks for the automotive industry, and that's absolutely true. The dirty little secret is that it costs only slightly more to develop and produce a truck compared to a sedan, and the former can drive price tags two or three times higher.
Trucks are so lucrative that Detroit automakers have made their names by producing and selling hundreds of thousands of them annually. The margins are great, and Ford went as far as ending the production of all sedans other than the iconic Mustang in the U.S. market.
Source Fool.com
