top of page
Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.


The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen

Stock Market

18 Nov 2021

Electric Car Startup Lucid’s Market Value Now Greater Than Ford’s

The Index Today

Lucid Group Inc. has boosted its position in the automobile industry and overtaken Ford Motor Co in market value. The startup electric vehicle firm has gained tremendous support from investors who are favoring clean energy over gasoline-dependent cars.

With the public release of the first financial results, stocks for Lucid Inc hit a new high of 24% on Tuesday, with shares valuing at 455.52 each. The total valuation of the company came to $89.3 billion, more than Ford Motors market value. The startup is edging closer to General Motors Co which has a market worth of $91 billion.

Lucid was awarded “The Car of the Year” title by Motortrend Magazine after its efforts to challenge traditional car companies made headlines. The firms is emerging as major car competitor in the industry and is aiming to dominate the electric vehicle race. Rivian Automotive is another leading electric vehicle company which is working on manufacturing electric trucks and SUVs.

Ford’s Motor $30 billion electric vehicle investment strategy aims to build battery factories and electric pick-up trucks to position it as a leaders in electric vehicle manufacturing. The plan is expected to be implement over the next five years. A spokesperson for Ford said, “Markets are efficient over time. We expect to create great value for custo0mers and all our stakeholders.” According to Dow Jones data, Fords shares were up 125% this year, making it the seventh largest gain in S&P 500.

Clay pottery with table linens
bottom of page