"NIO, XPEV, LI, BYD.. China's Quads Message Board

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Technology Stocks : "NIO, XPEV, LI, BYD.. China's Quads

BYDDF 11.95

-0.9%

3:41 PM EST

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To: Sultan who wrote (2185)	11/10/2023 4:36:09 PM
From: roto	of 2786

Message 34475422 this Bloomberg article is Julius's most recent post (BYD & SAIC mfg Hungary & Poland?). The 'same- read' continued on with this article: bloomberg.com Saudis Find a Bottomless Money Pit in Lucid Lucid provides a grim lesson in auto industry capital intensity, scale economies and brand building. November 9, 2023 at 12:24 AM PST By Chris Bryant Chris Bryant is a Bloomberg Opinion columnist covering industrial companies in Europe. Previously, he was a reporter for the Financial Times. A Lucid Motors Air Grand Touring electric vehicle (EV) at the company's showroom in New York in 2022. Photographer: Bloomberg/Bloomberg LUCID GROUP INC 3.80USD Saudi Arabia appeared to have found a winner when US luxury electric vehicle manufacturer Lucid Group Inc. went public in 2021 — a clean tech investment that would diversify and substantially add to the kingdom’s oil riches. Two years later, Lucid has instead delivered a grim lesson in automotive capital intensity, scale economies and the difficulty of building car brands from scratch. The Public Investment Fund’s 60% Lucid stake was valued at more than $55 billion in the months after the EV manufacturer completed a US SPAC listing. Lucid’s optimistic sales forecasts and vertically integrated strategy (it develops core technologies itself) helped persuade giddy retail investors it would become the next Tesla Inc. But the excitement didn’t last: The Saudis’ holding is now worth just $5.4 billion.

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