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Morning Bell With Jim Cramer - Watching Tesla and Lucid

TheStreet's Jim Cramer's takes a ride in a Lucid, surveys the electric vehicle market and has some advice for Tesla's Elon Musk.

Stock futures declined Tuesday as earnings season kicks into another gear with reports from mega-cap tech companies and investors await the Federal Reserve's outlook for stimulus.

TheStreet's Jim Cramer took a look at Lucid Motors  (LCID) - Get Lucid Motors Report, which made its stock market debut on Monday, and the growing electric-vehicle market.

Cramer on Lucid: 'A Gorgeous Car'

Lucid's stock market listing follows the close Friday of the merger between special purpose acquisition company Churchill Capital  (CCIV) - Get Churchill Capital Corp IV Report, a blank check company started by investment banker Michael Klein. 

Cramer told Action Alerts PLUS senior analyst Jeff Marks about his experience riding in a Lucid vehicle, where he were "zero to 80 in three seconds."

"I think it's a gorgeous car that will have a lot of buyers," Cramer said.

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And while he didn't experience space like Amazon  (AMZN) - Get Amazon.com, Inc. Report Executive Chairman Jeff Bezos, who flew to space last week, Cramer said his ride in the Lucid was "space-like."

Cramer Says Tesla Has to 'Trash the Competition'

Cramer said the electric vehicle market is becoming more competitive, which means Tesla's  (TSLA) - Get Tesla Inc Report CEO Elon Musk will have to work harder.

"This is the first quarter where Musk will have to trash the competition and explain to you why you don't want to buy a Lucid," he said. 

Tesla posted stronger-than-expected second-quarter earnings Monday but Musk warned investors that the global shortage in semiconductor supplies remains "quite serious" and could impact production rates over the second half of the year.

"The chip supply is fundamentally the governing factor on our output," Musk told investors. "It is difficult for us to say how long this will last because [it's] out of our control essentially. It does seem like it's getting better, but it's hard to predict." 

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