EV start-up Lucid, which delivered its first vehicle on October 30th, has a market cap bigger than Ford’s and is now the eighth most valuable car company in the world.
Tesla, Rivian and Lucid are valued at a completely different scale to traditional automakers.
Toyota, Volkswagen and Daimler, the three most valuable industry veterans, have a combined market capitalization of $505 billion.
Tesla alone is worth more than twice that.
