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Lucid Group vs. NIO: Which Electric Vehicle Stock Is a Better Buy?

Published 12/01/2021, 01:59 PM
Updated 12/01/2021, 02:30 PM
© Reuters.  Lucid Group vs. NIO: Which Electric Vehicle Stock Is a Better Buy?

The demand for electric vehicles (EVs) is projected to soar in the next decade. With that in mind, today I'll analyze and compare Lucid Group (LCID) and NIO (NIO) to determine which is currently the better investment.The demand for electric vehicles (EVs) is projected to soar in the next decade. EVs represented about 5% of all new car sales in 2020 and are expected to represent 48% of all new cars sold in 2030.

This is due to an accelerated shift towards clean energy solutions at the global level. With this in mind, today I’ll be analyzing and comparing EV manufacturers Lucid Group (LCID) and NIO (NIO).

LCID has just started shipments of its EVs but is valued at a market cap of $87.22 billion. NIO is one of the largest EV manufacturers in China and is valued at a market cap of $62 billion.

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