Electric car maker Lucid explores China entry, mass market models, CNBC says

Without giving explicit details, a top executive of electric car company Lucid (LCID) told CNBC the company is exploring an entry into the China EV market, writes Arjun Kharpal for the news outlet. CNBC noted that the the latest comments follow the hiring of Zhu Jiang, a former executive at Chinese electric car start-up Nio (NIO). “Every car manufacturer has to look very deeply or has already looked into China. It’s the world’s largest car market. It’s going to be likely the world’s largest and fastest adopting EV market as we can see,” Eric Bach, chief engineer at Lucid, told CNBC on Tuesday at the IAA auto show in Germany, according to the CNBC story. Other companies in the EV space include Tesla (TSLA) , Li Auto (LI), and VinFast Auto (VFS).