As the EV space gets cheaper to start the year, investors might benefit from noting that Lucid Group Inc (NASDAQ:LCID) just recently announced, along with Nielsen (NYSE:NLSN), that the companies have collaborated to bring innovative and intuitive audio features to the ground-breaking Lucid Air luxury electric vehicle. By integrating Gracenote’s Smart Radio data and technology solutions, Lucid’s elegant entertainment interface will seamlessly connect drivers and passengers to audio content from a range of sources to optimize the in-car entertainment experience.
According to the release, from broadcast radio to streaming services to digital devices, there is more audio source choice than ever in the connected car today. The same applies to content available from those sources with the proliferation of music, news and talk radio. The challenge automakers face is enabling access to all audio content in the car via an intuitive and safe-to-use interface.
Lucid Group Inc (NASDAQ:LCID) trumpets itself as a technology and automotive company that develops electric vehicle (EV) technologies. The company designs, engineers, and builds electric vehicles, EV powertrains, and battery systems.
According to company materials, Lucid’s mission is to inspire the adoption of sustainable energy by creating advanced technologies and the most captivating luxury electric vehicles centered around the human experience. The company’s first car, Lucid Air, is a state-of-the-art luxury sedan with a California-inspired design that features luxurious full-size interior space in a mid-size exterior footprint.
Underpinned by race-proven battery technology and proprietary powertrains developed entirely in-house, Lucid Air was named the 2022 MotorTrend Car of the Year®. The Lucid Air Dream Edition features an official EPA estimated 520 miles of range or 1,111 horsepower. Customer deliveries of Lucid Air, which is produced at Lucid’s new factory in Casa Grande, Arizona, are underway.
As noted above, LCID just announced a collaboration with NLSN to bring innovative and intuitive audio features to the ground-breaking Lucid Air luxury electric vehicle.
“One of Gracenote’s primary objectives is to help our automotive customers deliver next-generation content navigation and discovery that connects their end users to the audio they love out on the open road,” said Simon Adams, Chief Product Officer, Gracenote. “Like Lucid, Gracenote has innovation in its DNA and we’re tapping that to bring an entertainment experience to the Lucid Air that’s as advanced, elegant and functional as the vehicle itself.”
The chart shows 5% piled on for shareholders of the listing during the trailing month. The situation may be worth watching. LCID is a stock with a past that has featured a litany of sudden rips to the upside. Moreover, the stock has benefitted from a jump in recent trading volume to the tune of 22% beyond what we have been seeing over the larger time frame.
Now commanding a market cap of $69.5 billion, LCID has a significant war chest ($4.8B) of cash on the books, which is balanced by about $269.4M in total current liabilities. One should also note that debt has been growing over recent quarters. The company is pre-revenue at this point.