Is Lucid Group a Millionaire-Maker Stock?

Key Points

• Lucid shares are soaring after the company revealed a partnership with Uber to work on self-driving car technology.

• While uncertainties remain, the stock looks very compelling.

• 10 stocks we like better than Lucid Group ›

If you want to make millions in the stock market, bet on small companies tackling big opportunities. With a market cap of just $9 billion, Lucid Group (NASDAQ: LCID) fits the bill as it tackles the electric vehicle (EV) industry. And its new self-driving car partnership could take things into hyperdrive. Let's dig deeper into why you should consider buying this exciting stock and if it could take you to millionaire status.

Self-driving cars could mint plenty of millionaires

The technology behind self-driving cars looks almost ready for prime time, and Wall Street analysts are incredibly optimistic, with one estimate projecting a $300 billion to $400 billion revenue opportunity by 2035. Lucid could capture a chunk of this long-term growth through its recently announced partnership with ride-sharing giant Uber Technologies, which says it "aims to deploy 20,000 or more Lucid vehicles equipped with the Nuro Driver™ over six years in dozens of markets around the world."

Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More »

Uber will purchase a $300 million stake in Lucid's equity and buy at least 20,000 customized Gravity SUVs to help with the rollout of its robotaxi fleet in the U.S. starting next year. The partnership will rely on hardware from a self-driving start-up called Nuro, which is already testing its software in major American cities like Dallas, Miami, and San Diego.

The potential here is huge. Uber could be a natural winner in the race for robotaxi dominance, because, unlike rivals such as Tesla and Alphabet's Waymo, it already boasts a fully built-out ridesharing service and immense brand recognition. For Lucid, this deal represents a much-needed cash infusion while also offering the potential for a large, stable customer that will help its business achieve economies of scale.

Image source: Getty Images.

To put the potential impacts in context, consider that Lucid sold just 10,241 vehicles globally in 2024. The additional 20,000 orders planned over the next six years could make a sizable impact on the company's top-line growth and margins as it spreads fixed costs across a larger number of vehicles.

Investors also shouldn't forget that the Saudi Arabian government (which has a roughly 60% stake in Lucid) has also agreed to purchase up to 100,000 of its vehicles over the next 10 years, potentially putting Lucid in a fantastic position where ''if you build it, they will come'.

Government support is crucial

Lucid's recent partnership with Uber might be an early sign of the downstream impacts of the U.S. government's push toward a "made in America" policy. In the past, self-driving start-up Waymo attempted to build its self-driving car program on foreign, imported vehicles from Jaguar (a subsidiary of Tata Motors), and most recently, the Chinese company Geely. However, even though large Chinese EV makers can likely offer better value and volume, U.S. tariffs on auto imports make such partnerships politically and financially risky.

Uber's decision to partner with a less established, but domestic brand -- Lucid is headquartered in California -- may be an attempt to avoid these challenges. And unlike high-volume American EV makers such as Tesla, Lucid isn't a potential rival.

Investors should also expect Lucid to get continued support from the government of Saudi Arabia, where it boasts a large manufacturing facility with the capacity to assemble 5,000 vehicles annually (this can be expanded to 155,000 cars if needed). The Saudi Arabian government sees Lucid as an essential part of its plan to diversify its economy away from fossil fuels. And if things go as planned, the Saudi plant could become a hub for EV exports to other Middle Eastern countries.

Lucid is a compelling long-term buy

Lucid's new partnership with Uber could boost its growth and margins by giving it a massive guaranteed customer and better economies of scale benefits as it ramps up production. But that's only part of the reason why this long-suffering company has finally become a strong buy.

Wall Street analysts expect the rollout of new SUV models to send sales growth soaring to 97% next year. And with a price-to-sales (P/S) multiple of just 7, the stock is cheap compared to alternatives like Tesla, which trades for 11.6 times sales despite facing declining revenue in its most recent quarters. Lucid stock probably won't stay this affordable for much longer.

Could Lucid stock make investors who put money into it today into millionaires? Maybe. The market certainly has the potential for growth.

Should you invest $1,000 in Lucid Group right now?

Before you buy stock in Lucid Group, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Lucid Group wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $652,133!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,056,790!*

Now, it’s worth noting Stock Advisor’s total average return is 1,048% — a market-crushing outperformance compared to 180% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.

See the 10 stocks »

*Stock Advisor returns as of July 21, 2025

Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Will Ebiefung has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Tesla, and Uber Technologies. The Motley Fool has a disclosure policy.