How Will EV Newcomer Lucid Perform?

Nobody can deny that Lucid is receiving an enormous cascade of extremely positive press, most notably for its 500-mile range.  Here’s an article from the Motley Fool that essentially falls into line.

I’m anything but an industry insider, but all this sounds unlikely to me.  The people at Tesla aren’t sitting around sipping champagne and clapping each other on the back.  Moreover, VW and essentially every other OEM that plans on being around in 20 years are investing billions of dollars on their own EV platforms.

Apparently, this torrent of positive PR is an essential part of Lucid’s business model.  Tesla and the others don’t care.  The product and its sales numbers speak for themselves, and the accompanying PR occurs effortlessly.

The company has delivered 20 cars, and has a market cap of $85 billion. That smells like over-hype to me.