Stock Track | Lucid Group Inc Soars 5.04% on Potential Trump Policy Boost for EV Makers

Stock Track12-17

Lucid Group Inc (LCID) stock surged 5.04% on Monday, outperforming the broader market, amid expectations that the incoming Trump administration could introduce policies favorable for electric vehicle (EV) manufacturers operating in the United States.

According to reports, Trump's transition team is considering sweeping changes to boost domestic EV production and battery supply chains, potentially benefiting companies like Lucid. The proposed measures include:

Imposing tariffs on imports of EV components, including batteries and critical minerals, to encourage domestic production
Waiving environmental reviews to expedite infrastructure projects related to battery recycling, production, and charging stations
Providing export support and negotiating trade deals to open foreign markets for U.S.-made EVs

While the plans could strike a blow to consumer EV sales by eliminating tax credits and rolling back emissions standards, analysts believe companies like Lucid could benefit from the focus on strengthening the U.S. EV supply chain and reducing reliance on China.

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