Shares of Lucid Group (NASDAQ: LCID) surged on Wednesday, soaring 12.4% at its highest point in trading earlier in the day after the electric vehicle (EV) stock's latest updates about its 2024 Air model lineup raised investors' hopes of a turnaround.

In a bid to boost sales, Lucid is trying to make its cars more competitive, and will now provide customers with greater flexibility to configure their vehicles, especially for its Pure and Touring versions.

Lucid is doing two things here: It has added new features to make its Pure and Touring models more alluring, and has cut starting prices as well to make them more affordable. While Air Pure now starts from $77,400 per unit, Air Touring will start at $85,900 per unit. The luxury EV maker will also add features and cut the starting price of its Air Grand Touring sedan in 2024.

Continue reading

Source Fool.com