Stock Track | Lucid Group Soars 5.35% on Partnership Discussions and Positive Outlook

Stock Track12-13

Lucid Group Inc (LCID) stock surged 5.35% in intraday trading on Thursday, outperforming the market. The electric vehicle maker's shares rallied on the back of reports that the company is exploring potential partnerships to supply its technology and leverage economies of scale.

According to the news, Lucid is in discussions with several traditional automobile manufacturers about potential collaborations. The aim is to support these companies in their sustainability efforts and provide them with Lucid's cutting-edge electric vehicle technology and components.

This development is seen as a positive move for Lucid, as it could open up new revenue streams and help the company achieve greater economies of scale in production. Partnering with established automakers could also provide Lucid with access to their manufacturing capabilities and global distribution networks, potentially accelerating the company's growth and expansion plans.

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