Lucid Group on course for growth

Lucid Group $LCID (-3.14%) has established itself as a true high-flyer over the last six quarters, achieving impressive record deliveries. While the electric vehicle industry in the US is generally struggling with challenges, Lucid has developed a smart strategy to take off in the coming year. Analysts are optimistic and predict that the company's sales figures could almost double next year. A key factor in this growth is the latest model, the Gravity SUV, which is based on a mid-size platform. These SUV models could significantly expand the market, as the market size of the Gravity SUV is expected to be six times larger than that of the Lucid Air. In the first quarter of this year, Lucid already delivered 3,109 vehicles, an impressive 58% year-on-year increase. Despite a loss of almost 400 million euros in the fourth quarter and the resignation of CEO Peter Rawlinson, the future of Lucid remains bright.

Tesla launches robotaxi service in Texas

In the USA, Tesla $TSLA (-0.32%) caused a stir on Monday and emerged as the biggest winner in the S&P 500 after the company launched a robotaxi test in Texas. Shares in the electric vehicle manufacturer shot up by 8.2%, the best performance of the day in the S&P 500. CEO Elon Musk has announced that Tesla is launching around 10 to 20 autonomous driving Model Y vehicles in Austin, with ambitious plans for rapid expansion by the end of next year. These robotaxi and self-driving software initiatives could not only revolutionize the driving experience, but also help Tesla's market capitalization double by the end of 2026. Meanwhile, Supermicro $SMCI saw a 9.8% drop after the company announced that it will issue €2 billion in convertible bonds to fund general corporate purposes.

Sources:

https://finance.yahoo.com/news/growth-poised-explode-lucid-stock-124500156.html

https://finance.yahoo.com/news/p-500-gains-losses-today-205340522.html