Lucid Group Stock Reverses Gains Amid Doubts Over Bolt Partnership
Lucid Group (LCID) stock initially rose nearly 6% after announcing a partnership with Estonian rideshare company Bolt to deploy autonomous Lucid EVs across Europe and the Middle East. However, investors are now questioning whether Bolt can afford such an ambitious plan given its financial constraints. Bolt plans to purchase up to 100,000 Lucid vehicles by 2035 but currently generates only about $88 million in annual operating cash flow. At current pricing, acquiring even the initial batch of 25,000 EVs would require nearly $1.78 billion—equivalent to two decades' worth of Bolt's existing cash flow. As a result, Lucid stock has fallen by over 3% as investors reassess the feasibility and financial implications of this partnership.
Tickers: $LCID
Topics: autonomous vehicles Bolt EV partnerships Lucid Group