Another Step Toward Deliveries: Lucid Group (LCID) Reportedly Registers Around 10,000 VINs to Cater To the Vast Majority of the Pre-Booked Air EVs

Lucid Group

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Lucid Group (NASDAQ:LCID) has now reportedly taken a significant step toward formally commencing the deliveries of the Lucid Air electric vehicle, paving the way for the stock’s bullish thesis to take the proverbial driving seat.

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As is evident from the tweet above, Lucid Group has now apparently registered around 10,000 Vehicle Identification Numbers (VINs), corresponding to the roughly 10K reservations for the Lucid Air EV. As a refresher, a VIN consists of 17 characters – including digits and capital letters – that act as a unique identifier for any road-legal vehicle. The VIN can be used to track recalls, registrations, warranty claims, thefts, and insurance coverage.

Please note that we have contacted Lucid Group for independent verification. Nonetheless, this development marks a significant step toward the commencement of the much-anticipated Air EV deliveries.

We had noted in a previous post that Lucid Group communicated to MotorTrend’s Jonny Lieberman, who was able to test drive the Air EV back in August, that the deliveries are slated to begin in Q3 2021 which ends in September. However, Lieberman seems to believe that any meaningful deliveries would only take place in October 2021. Against this backdrop, the mass registration of VINs only lends credence to this thesis.

In another positive development that supercharged Lucid Group bulls last week, the EPA range estimates for the Air EV have now been officially released. To wit, the EPA range estimate for Lucid Air Dream Edition (19-inch wheel) now computes at 520 miles – that’s greater than the company’s own initial estimate of a range of 517 miles! For reference, a 2021 Tesla (NASDAQ:TSLA) Model S Long Range has an EPA estimate of 405 miles. This means that the top-of-the-line Air EV will provide over 28 percent more driving range than a fully-spec’d Model S.

Meanwhile, Lucid Group continues to win accolades on Wall Street, with the Bank of America now joining Citi and CFRA Research in the bullish camp. Of course, Morgan Stanley’s Adam Jonas, a Tesla permabull, remains the bearish outlier for now with a $12 stock price target.

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