Benzinga | Oct 29, 2021 09:47AM EDT

Why Lucid Shares Continue To Rise Today

Lucid Group Inc (NASDAQ:LCID) is trading higher Friday on continued strength in anticipation of Lucid Air deliveries.

The first group of Dream Edition reservation holders are expected to take delivery of the first Lucid Air vehicles on Oct. 30.

Lucid plans to deliver 520 Lucid Air Dream Editions, followed by deliveries of the Grand Touring versions. Touring and Pure models are expected to be delivered to customers beginning in 2022.

"Creating the Lucid Air has truly been a labor of love, with customer deliveries representing the culmination of years of endeavor from the entire Lucid team. So I'm truly excited to hand the keys to our first dear customers and accompany them on an inaugural drive through the iconic California countryside," said Peter Rawlinson, CEO of Lucid.

Lucid is set to announce its third-quarter financial results after the market closes on Nov. 15.

Lucid is a technology and automotive company developing the next generation of electric vehicle technologies.

See Also: Lucid Stock Surges Through Resistance: What's Next?

LCID Price Action: Lucid was up 10.5% at $39.19 at time of publication.

Photo: courtesy of Lucid.