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Lucid Motors Struggles to Gain Traction Despite Autonomous Vehicle Push
Lucid Motors Struggles to Gain Traction Despite Autonomous Vehicle Push
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BTCCSquare news:
Lucid Motors' stock (LCID) continues its downward trajectory, shedding 84% of its value over three years as the luxury EV Maker fails to captivate investors. The company's critically acclaimed vehicles have yet to achieve meaningful market penetration, reflecting broader challenges in the electric vehicle sector.
Recent developments suggest a strategic pivot toward autonomous technology. Lucid secured a $300 million investment from Uber to develop premium robotaxis based on its Gravity platform. The collaboration combines Lucid's vehicle architecture, Nuro's Level 4 autonomous driving system, and Uber's fleet network, targeting deployment of 20,000 electric SUVs within six years.
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