Lucid Group's Shares Surge After Manufacturing Partnership with Rockwell
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 24 2024
0mins
Should l Buy LCID?
Source: MarketWatch
Lucid Group Inc. shares surged 5.06% to reach a 5-day high following positive market conditions, with the Nasdaq-100 and S&P 500 both showing gains.
The increase in Lucid's stock price is attributed to a deeper manufacturing partnership with Rockwell Automation, which will enhance production capabilities at its Saudi Arabia facility. This collaboration includes the implementation of Rockwell's FactoryTalk® MES software, aimed at optimizing production operations and supporting the Kingdom's Vision 2030 objectives. The market reacted positively to the news, reflecting optimism about Lucid's future in the electric vehicle sector.
This partnership not only boosts Lucid's operational efficiency but also positions the company favorably in a competitive market, especially as it plans to launch a midsize electric vehicle in 2026. Investors are keenly watching Lucid's production timelines and delivery trends, which are expected to significantly influence future stock performance.
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Analyst Views on LCID
Wall Street analysts forecast LCID stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for LCID is 16.73 USD with a low forecast of 10.00 USD and a high forecast of 30.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
12 Analyst Rating
1 Buy
8 Hold
3 Sell
Hold
Current: 9.530
Low
10.00
Averages
16.73
High
30.00
Current: 9.530
Low
10.00
Averages
16.73
High
30.00
About LCID
Lucid Group, Inc. is a technology company, which designs, engineers, and manufactures electric vehicles (EVs), EV powertrains, and battery systems in-house using its own equipment and factories. It sells vehicles directly to consumers through its retail sales network and through direct online sales. Its vehicles include Lucid Air and Lucid Gravity. Lucid Air is an advanced car, featuring powertrain technology. It offers 420 miles of the United States Environmental Protection Agency (EPA)-estimated range, with an 84-kWh battery pack. The Lucid Air Sapphire is the highest-performance version of the Lucid Air, boasting 1,234 horsepower from three motors, 427 miles of an EPA-estimated range (when equipped with standard wheel covers). The Lucid Gravity provides the interior space and practicality of a full-size SUV within the exterior footprint of a mid-size SUV. It provides space for up to seven adults. It has engineered the Lucid Gravity to deliver up to 450 miles of EPA-estimated range.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Massive Loss Warning: Stellantis disclosed a $26 billion charge due to a business overhaul, resulting in a more than 20% plunge in its stock, reflecting overestimated expectations regarding the pace of the energy transition and weak market demand.
- Rise of Chinese Brands: Chinese EV sales skyrocketed from approximately 572,300 units in 2020 to 4.95 million in 2025, with a nearly 70% increase in global market share over five years, showcasing the strong expansion capabilities of Chinese brands in the global market.
- Impact of U.S. Policies: U.S. automakers have invested over $27 billion in EV development, but due to policy shifts and declining market demand, many companies are scaling back their EV plans, potentially leading to a long-term decline in competitiveness.
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- Crisis in U.S. Auto Industry: U.S. manufacturers like Stellantis announced a $26 billion restructuring charge due to missteps in the EV transition, leading to a 20% stock plunge, reflecting a decline in competitiveness in the EV market that could impact long-term profitability.
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