Lucid Stock Falls on First Recall. This One Isn’t Going to Be Fixed With Software.

Electric-vehicle start-up Lucid has its first recall listed on the National Highway Traffic Safety Administration website. Lucid makes futuristic, luxury EVs, but this recall isn’t going to be fixed with a software patch. Cars have to go into the shop.

Investor interest in automotive recalls is rising after Tesla (ticker: TSLA) recalled almost 1.5 million vehicles so far in 2022. That is a lot of vehicles, considering Tesla delivered roughly 360,000 vehicles in the U.S. in 2021. But all the recalls could be fixed with a software…