Today, despite a generally bearish trend in the broader market, the shares of Lucid Group (LCID) are experiencing a significant increase during trading hours. As of 12:30 p.m. ET, their stock price has climbed by 8.9%. In contrast, the S&P 500 is decreasing by 0.1%, and the Nasdaq Composite is falling by 0.7% at this time.
Today, the valuation of the electric vehicle specialist is experiencing a significant increase due to the news that its Air vehicle models will soon be compatible with Tesla’s Supercharger network. This announcement follows closely on the heels of Lucid forming a robotaxi partnership with Uber, which has led to a 41% rise in the company’s stock price over the last month.
Lucid stock soars on Tesla Supercharger news
Beginning on July 31st, all Lucid Air models will be able to utilize Tesla’s extensive charging network. This is made possible by a recently approved charger adapter from Lucid, granting Air owners access to over 23,500 charging stations across the network.
Through its extensive charging station network, Tesla offers a highly convenient charging experience for Air owners, an advantage that could potentially boost the appeal of Lucid’s Air electric vehicles among potential buyers due to the new compatibility feature.
What’s next for Lucid?
Recently, Lucid has been experiencing some impressive victories. As a part of their strategic collaboration on robotaxis, Uber plans to acquire at least 20,000 of their vehicles, equipping them with advanced autonomous driving systems provided by Nuro.
Last year, the company sold only 10,241 vehicles, but the deal with Uber could serve as a major sales booster, since the purchases will be made over a six-year timespan. Furthermore, Uber’s $300 million investment in the company suggests that Lucid’s electric vehicles may eventually become part of Uber’s fleet, potentially leading to additional sales catalysts as more people learn about their vehicles due to increased visibility.
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2025-07-22 20:01