Lucid Group (NASDAQ: LCID) is an up-and-coming electric vehicle (EV) maker that has attracted a lot of investor attention since merging with a special purpose acquisition company (SPAC) three years ago. The EV maker boasts a driving range well above its competition and aims to take on companies like with its luxury vehicles.

Lucid stands to benefit from the growing demand for EVs, but it has taken some time to start producing them. This raises another concern: It has repeatedly raised capital to ensure it has enough funding to keep moving forward. If you're considering an investment in the young EV company, consider the following facts first.

Lucid Group has a couple of advantages. First, it focuses on manufacturing luxury vehicles. By focusing on creating a premium brand, Lucid wants to attract a customer base that is more resilient to economic cycles. To do so, it aims to provide its customers with a high-quality experience, but building an enviable brand from scratch takes time.

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Source Fool.com