Lucid's Cars Are Great, but Lucid Stock Is Still an Easy "No" as 2026 Begins

4 days ago 6

John Rosevear, The Motley Fool

Wed, January 7, 2026 astatine 5:27 AM CST 5 min read

Lucid's electrical vehicles are terrific, but the institution hasn't sold capable of them yet.
The institution needs to drastically summation yearly income conscionable to interruption adjacent connected its immense Arizona factory.
Much of its currency comes from a azygous capitalist -- a immense risk.
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Lucid Group (NASDAQ: LCID) makes immoderate of the astir awesome electrical vehicles (EVs) we've seen to date. The Lucid Air shines for its industry-leading scope and terrific handling, and the caller Gravity SUV yet puts the institution into the high-volume portion of the luxury-car market. Yet Lucid banal inactive isn't a bully concern for astir people.

That isn't a sound connected the engineering. It's a world cheque astir 3 things that should substance a batch much to shareholders than horsepower and EPA scope estimates:

Ongoing absorption turnover
A currency presumption that looks large until you comparison it to the pain rate
An unprofitable concern exemplary that is obscurity adjacent the measurement it needs to interruption even

Let's locomotion done wherefore those 3 issues are hard to disregard close now.

A Lucid Gravity, an electrical luxury SUV, successful a godforsaken setting.

Startups tin past a batch of mistakes. What they can't past is slow execution -- due to the fact that dilatory execution burns cash.

That's wherefore Lucid's enactment changes implicit the past mates of years are concerning. Since the autumn of 2023, Lucid's enforcement departures person included its main fiscal serviceman and wide counsel; heads of marketing, operations, and capitalist relations; and -- astir worryingly -- its longtime CEO and Chief Technology Officer Peter Rawlinson.

Rawlinson departed successful February of this twelvemonth and was replaced connected an interim ground by Mark Winterhoff, who had been hired arsenic main operating serviceman conscionable a fewer months earlier. A hunt for a imperishable CEO has been ongoing since.

Winterhoff hasn't done a atrocious job, considering the manus helium was dealt. But if thing else, each the turnover has made things harder for a institution that was already facing a steep uphill battle.

Lucid's currency and equivalents were $4.32 cardinal astatine the extremity of 2023, $5.04 cardinal astatine the extremity of 2024, and $2.99 cardinal astatine the extremity of the 3rd 4th of 2025. That doesn't dependable excessively atrocious -- until you see however overmuch wealth the institution raised implicit the past 2 years: