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Investing.com - Cantor Fitzgerald maintained its Neutral rating and $3.00 price target on Lucid Group Inc . (NASDAQ:LCID) in a research note released Monday. The electric vehicle maker, currently valued at $8.9 billion, has seen its stock rise 3.55% over the past week. According to InvestingPro data, analyst consensus remains cautious with targets ranging from $1 to $7.
The electric vehicle manufacturer recently announced a partnership with Uber (NYSE:UBER) and autonomous vehicle technology company Nuro to launch a "next-generation autonomous robotaxi program" exclusively for the Uber platform.
Under the agreement, Lucid plans to deploy more than 20,000 Lucid Gravity electric SUVs equipped with Nuro’s Level 4 self-driving system over six years, beginning in late 2026. SMB Holding Corporation, a subsidiary of Uber, will invest approximately $300 million into Lucid shares via private placement as part of the partnership.
The initiative will combine Lucid’s long-range electric vehicles with Nuro’s AI-powered autonomy technology and Uber’s ride-hailing network infrastructure.
Separately, Lucid announced on July 15 that it had updated its Advanced Driver Assistance Systems (ADAS) capabilities to enable Hands-Free Drive Assist and Hands-Free Lane Change Assist features, which will be available via an over-the-air update scheduled for release on July 30.
In other recent news, Lucid Group, Inc. has announced that all Lucid Air models will have access to Tesla (NASDAQ:TSLA)’s Supercharger network starting July 31, 2025, using a Lucid-approved adapter priced at $220. This development allows owners to charge at compatible Tesla Superchargers, providing up to 200 miles of range per hour of charging. Additionally, Lucid has filed for a one-for-ten reverse stock split, seeking shareholder approval for the proposal at an upcoming special meeting. Benchmark has raised its price target for Lucid to $7.00, maintaining a Buy rating, following the announcement of a strategic partnership with Uber and Nuro, Inc. This partnership aims to deploy 20,000 Lucid Gravity SUVs equipped with Nuro Driver autonomous technology, expected to launch in 2026. Stifel has reiterated its Hold rating on Lucid with a $3.00 price target amid the Uber partnership, which involves creating a robotaxi service using Lucid’s electric vehicle architecture. Meanwhile, BofA Securities has reiterated its Buy rating for Uber Inc., highlighting the company’s expanding autonomous vehicle partnerships, including collaborations with Baidu (NASDAQ:BIDU) and Volkswagen (ETR:VOWG_p).
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