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Lucid plans to enter European markets this year -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO : Lucid Motors is trading on the Nasdaq Stock Exchange today after completion of its business partnership with Churchill Capital Corp. IV in New York City.

(Reuters) – Lucid Group announced Tuesday that it will expand its European market presence in 2022 as electric vehicle demand soars after several countries have pledged to eliminate dependence on fossil fuels.

“Expansion to European market will start this year. Keep checking for information about delivery to specific countries,” tweeted the California-based electric vehiclemaker.

Lucid Air’s luxury sedan, Lucid Air, saw 13,000 reservations in its third quarter ending Sept. 30. This was a result of an order book worth approximately $1.3 billion. Since then it has risen to over 17,000 as the company reports quarterly results.

Lucid stated that the company saw great demand as they ramp up production in Arizona. They are confident about achieving 20,000 units by 2022.

Peter Rawlinson, chief executive officer of LucidAir sedans had stated in October 2021 the launch would be in Europe and the Middle East in 2022 and China and 2023 respectively.

A subpoena was issued by the U.S. securities regulator to obtain documents related to an inquiry into the blank-check contract.

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