Lucid (NASDAQ: LCID) has received much attention with its luxury electric vehicles (EVs), which boast a driving range well above its competitors. The EV maker made its public stock debut three years ago and sought to challenge with its upscale offerings.

It has taken Lucid time to ramp up production of its EVs, and the company had to raise capital to ensure it has enough funding to keep things going. The stock peaked in late 2021 at around $58 per share, but has plummeted 95% since then. If you're thinking of buying or holding shares of the beaten-up EV maker, consider the following.

Founded in 2007, Lucid manufactures EVs, explicitly focusing on the luxury niche. The company offers EVs with a more extended range compared to its peers. For example, its flagship Lucid Air Pure model has 430 horsepower, a range of 419 miles, and a price tag of $69,900.

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Source Fool.com