American electric vehicle maker Lucid Group, Inc. (NASDAQ: LCID) unveiled details on its upcoming first-ever luxury electric Gravity SUV. The company shared pictures as well as additional details related to the EV’s reservations, production, and vehicle design.
With a luxurious and spacious design and seating for up to seven people, Gravity is a “supercar in disguise and an SUV with flexible passenger and cargo space.”
Sharing his bullish views on Gravity, CEO and CTO Peter Rawlinson commented, “Just as Lucid Air redefined the sedan category, so too will Gravity impact the world of luxury SUVs, setting new benchmarks across the board.”
Expected to launch in 2024, the SUV’s reservation is expected to begin in early 2023. At present, the company is on the verge of finalizing the design and specifications for Gravity. Meanwhile, it is also proceeding with the expansion of its AMP-1 factory in Arizona. The company will provide further details when reservations commence in early 2023.
Is LCID Stock a Buy, Sell, or Hold?
Turning to Wall Street, analysts are cautious about Lucid stock and have a Hold consensus rating, which is based on three Buys, one Hold, and two Sells. Lucid’s average price forecast of $17 implies 49.25% upside potential.