""SPAC Stock"" – Google News
However, there are some errors in the argument that we need to take into account. First, NIO, or most EV stocks, look overvalued right now. There has been a sell-off in EV stocks and they may continue to be under pressure. Put simply, comparing it to any other overvalued stock doesn’t make Lucid stock attractive.
Second, NIO has at least functional models, while Tesla has gone through the manufacturing learning curve in the past five years, battling multiple headwinds. The markets ignore execution risk for Lucid Motors. Even Tesla had to go through what Elon Musk called “manufacturing hell”.
After all, don’t count older automakers. Over the next two years we will have a number of new EV models from several companies. Volkswagen has already announced aggressive plans to dominate the EV industry.