Why Lucid Group Stock Raced Ahead on Thursday
It signed a deal for the future deployment of as many as 25,000 vehicles.
Overview
A sizable new program with an existing business partner was the news that put acceleration into Lucid Group's (NASDAQ: LCID) shares on Thursday. Investors piled into the electric vehicle (EV) maker's equity, sending it up almost 6% that trading session.
Lucid and that partner, European rideshare company Bolt, announced they are launching a combined effort to deploy a minimum of 25,000 fully autonomous vehicles made by Lucid in that continent and the Middle East. This is part of a broader aim for Bolt to have 100,000 such autos on its platform by 2035, a very ambitious goal by any standard.
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Originally published at www.fool.com.
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