💬 QUOTED: “I’m very confident [with its release] we’ll enjoy significant step change in demand for…our complete product portfolio.”
In a twist of irony, Lucid is betting on Gravity to lift it up. The Saudi-backed EV maker yesterday announced the price range of its upcoming SUV model, called the Gravity, whose release is expected to boost sales.
There’s a lot riding on Gravity’s release. Shares of Lucid have been under pressure this year, down ~40% as EV demand has been slower than expected. Overall, the EV-maker’s stock is down ~95% from its 2021 peak.
But, according to CEO Peter Rawlinson, Gravity is a key cog in the company’s turnaround. The new model line is expected to outsell its first and only product released so far, the Air sedan, by a 6-to-1 ratio. Lucid delivered 2,781 vehicles in Q3, beating analysts’ expectations and up from 2,110 in the three months prior.
🤑 STAT OF THE DAY: Google will need a billboard-sized check to fit all of the zeros in its latest penalty from Russia. According to multiple reports, the tech giant has racked up ~$20 decillion worth of fines in Russia, after years of refusing a court order to restore the accounts of 17 pro-Kremlin and state-run media outlets (for reference, here’s that number written out: $20,000,000,000,000,000,000,000,000,000,000,000).
The fine will almost certainly never be repaid, as it represents ~30 quintillion times more money than the combined global assets of everyone in the world (~$663 trillion). At the current rate, it’ll take around four years before Google owes $1 googol, or a 1 followed by 100 zeros.
🤔 DID YOU KNOW? Sloths are a goldmine of incredible facts: they poop one-third of their body weight in one go, it takes them ~30 days to digest a single leaf, and they can starve to death on a full stomach if they get too cold. Learn more about these slow-moving marvels here.
📰 WORTH A READ: After Decades of Searching, Are Physicists Closing In on Dark Matter? → (Smithsonian Magazine)
🔥 It’s Tuesday, October 29th – and here’s what’s hot, hot, hot.
📸 Israel launched a retaliatory airstrike on military targets in Iran; a civilian-made videogame is gaining popularity with the US military and allies; & more.
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