Lucid Secures EV Batteries, But the Stock Falls Anyway

Electric vehicle start-up


Lucid


is securing electric-vehicle batteries ahead of its product line expansion. The stock isn’t getting any benefit though.


Tesla


might be to blame.

On Tuesday,


Lucid


(ticker: LCID) said that


Panasonic


(6752.Japan) will supply EV batteries for its full lineup of electric vehicles. The batteries will come from facilities in Japan as well as a new plant to be built in De Soto, Kansas.