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Lucid Group Stock Surges 18% on Saudi Manufacturing Partnership

Lucid Group Stock Surges 18% on Saudi Manufacturing Partnership

Author:

Global Cryptocurrency

Published:

2026-01-22 11:32:02

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BTCCSquare news:

Lucid Group shares soared 17.9% to $11.47 Wednesday following news of a strategic partnership with Rockwell Automation. Trading volume spiked 167% above average as investors reacted to the EV maker's plans to deploy FactoryTalk software at its King Abdullah Economic City facility—Saudi Arabia's first vehicle production site.

The rally comes despite analyst skepticism, with Morgan Stanley and RBC recently downgrading the stock. Lucid's Q3 results showed widening losses ($2.65/share) even as revenue grew 68% year-over-year. The Saudi plant represents a critical bet on future midsize vehicle production capacity.

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