Author argues Lucid (LCID) is oversold at a $2.37B market cap despite being down 90% from IPO, noting recent $700M in funding secured and potential for survival and recovery. Key risks include bankruptcy potential, continued dilution from capital raises, and execution risk on vehicle production and sales.

Polestar (GGPI), Volvo's EV spinoff coming public at $20B valuation in Q1 2022, is positioned as a global EV pure play trading at significant discount to Tesla and Lucid based on EV/sales multiples, with potential 210-247% upside if comparable valuations are applied. Key risks include execution on production targets, competition from established EV players, and valuation dependency on future growth materialization.