Prediction: Lucid Group Sales Will Soar 500% Over the Next 5 Years if This Happens

Lucid Group (NASDAQ: LCID) investors are ecstatic about the company's recent deal with Uber Technologies. Another electric vehicle (EV) stock, Tesla, has been aggressively ramping up its robotaxi efforts this year. Some experts believe this could eventually be a $10 trillion opportunity. So when Uber and Lucid partnered to launch their own robotaxi businesses, Lucid stock soared by more than 40% on the news. While autonomous driving is an exciting pillar of growth, there's actually another growth catalyst that will matter even more in the near future. In fact, this catalyst could help Lucid grow sales by more than 400% over the next five years alone.When it comes to scaling a $1 trillion electric vehicle business, Tesla has already shown the way. In fact, CEO Elon Musk detailed his master plan for growth all the way back in 2006 when he wrote up his strategy for the coming years. First, he wanted to build a sports car. That goal was achieved with the Roadster, a powerful but very expensive initial use case. From that, Musk wrote that he would use the money from that car's sales "to build an affordable car." This was achieved with the launch of the Model X and Model S. Those two, however, were still often priced above $100,000.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool