Lucid Group, Inc. (LCID)

Lucid Group's stock experienced volatility over the past six months. In May 2025, Goldman Sachs increased its holdings, and Lucid partnered with KAUST. July 2025 saw the sixth consecutive record for vehicle deliveries. In September 2025, shares began trading post a 1-for-10 reverse stock split. October 2025 included the opening of new Studio and Service Centers and a record for vehicle deliveries, but the 2025 production forecast was slightly lowered. November 2025 brought news of Lucid missing adjusted loss and sales estimates, and Stifel lowered its price target. Lucid announced the North American availability of the Lucid Gravity Touring SUV and plans for a convertible senior notes offering. A partnership with Uber and Nuro was announced, including a planned Uber investment and a commitment to deploy Lucid Gravity vehicles as robotaxis.

Demand for Lucid Group's products exhibits some seasonality, aligning with broader automotive industry trends. Sales data from January 2025 indicated a year-over-year increase but a sequential decline from December 2024. The third quarter of 2025 saw record deliveries, potentially influenced by buyers taking advantage of federal EV tax credits. Google Trends data shows consistently high search volumes for "Lucid Air," with a peak in March 2025, and increased consumer interest in "Lucid Gravity" after November 2024.

Lucid Group, Inc. specializes in the design, development, and manufacturing of luxury electric vehicles (EVs), EV powertrains, and battery systems. The company's flagship product is the Lucid Air, a luxury electric sedan, and it is expanding its product lineup with the Lucid Gravity, an electric SUV. Lucid develops proprietary software and offers battery systems and energy storage solutions, along with a vehicle service network.

Lucid Group is headquartered in Newark, California, and has a manufacturing presence in the United States with its Advanced Manufacturing Plant (AMP-1) in Casa Grande, Arizona. It has expanded manufacturing operations internationally with a factory in King Abdullah Economic City (KAEC), Saudi Arabia. The company's global network includes 64 Studios and Service Centers, with 15 locations across California, and it maintains operations and a market presence in regions including Hong Kong, Canada, the Netherlands, and Taiwan.

Lucid's brand reputation has been characterized by a strong product image for its luxury EVs, coupled with ongoing financial and production challenges. The Lucid Air has garnered significant acclaim, and the launch of the Lucid Gravity SUV has contributed positively. Strategic partnerships with NVIDIA, Kazenmaier Leasing, and KAUST have bolstered Lucid's reputation. However, the brand reputation has been impacted by struggles with production scale, significant cash burn, and persistent negative margins, leading to investor caution.

Lucid Group's ownership is heavily influenced by Saudi Arabia's Public Investment Fund (PIF), which is the majority shareholder. Other major institutional owners include Vanguard Group, BlackRock, and UBS Financial Services. Uber Technologies, Inc. became a new institutional holder as of September 2025. Insider trading activity has shown grants of shares to officers and directors, alongside some sales.