Lucid Motors Inc. (LCID) stock hikes during after-hours. Here’s to know why

Lucid Motors Inc. (NASDAQ: LCID) stock surged by 2.16% at last close while the LCID stock price gains by 0.94% in the after-hours trading session. Lucid’s objective is to stimulate the implementation of sustainable energy by designing the most engaging electric vehicles that are centered on the human experience.

LCID stock’ Current Update

The Lucid Air has been named the 2022 MotorTrend Car of the Year, according to MotorTrend. It is the first time that the “Golden Calipers” have been given to a new car brand’s inaugural offering.

The Car of the Year award from MotorTrend is regarded as one of the most coveted in the business. With the most efficient electric power train currently available, Lucid Air has established itself as the new EV benchmark. It’s the technology that’s been completely created, developed, and made in-house. The assessors for the MotorTrend Car of the Year award considered six essential criteria, with Lucid Air succeeding in each: efficiency, value, design advancement, engineering excellence, safety, and execution of the intended function.

Peter Rawlinson, CEO/CTO, Lucid Group commented that,

This prestigious award for Lucid Air, their very first car, is a ringing confirmation of their capacity to produce the world’s most powerful electric automobiles. Lucid Air crystallizes their goal of gaining range through efficiency and innovativeness, and they’re ecstatic that this effort has been recognized by MotorTrend against such strong competition from well-established manufacturers.

MotorTrend Group Head of Editorial, Ed Loh stated,

The Lucid Air is a revolutionary technology, with the biggest driving range of any electric motor in the industry, an EPA-estimated 520 miles, and over 1,100 horsepower. The futuristic Lucid Air sedan stands out from the crowd, and its stunning, well-designed interior sets the bar for the future generation of luxury vehicles. There is no debate that the Lucid Air is MotorTrend’s Car of the Year for 2022, based on their award’s criteria.