April 2 Lucid Group (NASDAQ:LCID) stock climbed 4.5% on Tuesday after interim CEO Marc Winteroff said the company is seeing an influx of former Tesla (NASDAQ:TSLA) customers. Over the past two months, nearly half of Lucid's new orders have come from ex-Tesla drivers, according to Fox Business.
Winteroff noted that Tesla owners have been a prime target for Lucid, given their familiarity with EVs and growing interest in alternatives. Analysts suggest Lucid's domestic production in Arizona offers an edge, reducing exposure to tariffs and ensuring quality control.
The EV maker has ambitious plans for 2025. It aims to double production from 9,029 vehicles in 2024 to approximately 20,000. The monthly output is expected to ramp up, reaching 2,000 vehicles by year-end.
Looking forward, Lucid also plans to introduce new models and enhance technology, which will position the company for sustained growth.
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