Electric vehicle maker $Lucid Group(LCID.US)$ has been on a tear this past month. Indeed, the nearly 30% rise in LCID stock investors have seen since the end of August is noteworthy, particularly when investors consider how far this stock dropped from its earlier highs this year.
Momentum appears to finally be turning around for investors in LCID stock. This luxury EV maker is taking aim at the market currently dominated by rival $Tesla(TSLA.US)$. Its high-priced, high-performance electric vehicles have captured the interest of EV aficionados looking for another option. As it turns out, anticipation an upcoming public launch of Lucid cars is bringing bullish sentiment back to LCID stock.
Let's dive into some of the key catalysts investors are watching with Lucid right now.
Latest LCID Stock Production Preview Week Updates
As we reported earlier, Lucid Motors has generated a lot of buzz around its Production Preview Week event. This week, the company invited guests to view Lucid's production facility in Arizona. Watching cars roll off the assembly line is certainly exciting. However, this event has turned out to be important for the following reasons:
Lucid announced at the event that deliveries would begin in late-October.
Accordingly, investors who have put deposits down now have a timeline for when they can expect to begin receiving their vehicles.
On this note, the company also reported it had more than 13,000 reservations for its Lucid Air model.
Additionally, it announced that it would expand the total quantity of its Lucid Air Dream Edition model to 520.
This model was earlier reported to have an EPA range of 520 miles — the longest of any EV.
The first customer-quality EVs rolled off the line on Tuesday, signaling perhaps deliveries could happen sooner than expected.
Test drives of the Lucid Air went over well at the event, with various parties given the ability to test-drive vehicles.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.