Lucid Motors Faces Challenges Despite Technological Advances

Lucid Motors is praised for its innovation and cost control, but faces market and financial hurdles.

RBC Capital Markets lowered Lucid's price target from $3.00 to $2.00, citing lower licensing value until more deals are confirmed.
Lucid's CEO Peter Rawlinson confirmed there are no plans to launch a $20,000 EV, but the company may license its technology to enable cheaper vehicles.
Lucid's new engineering center in Southfield, Michigan, will support the development of the Gravity SUV and a midsize EV platform set for 2026.
Lucid's Air model outsold competitors like the Tesla Model S in Q3, despite broader media narratives of slowing EV sales.
Lucid's stock recently saw a 6.47% increase, closing at $2.14, but remains down approximately 53% year-to-date.