Latest news with #NikolaCorporation
Yahoo
02-08-2025
- Automotive
- Yahoo
Lucid Group, Inc. (LCID) Opens Phoenix Hub, Accelerates Gravity SUV Production and Job Growth
We recently compiled a list of the 10 Best Low Cost Stocks To Buy Under $50. Lucid Group, Inc. stands tenth on our list. Lucid Group, Inc. (NASDAQ:LCID) is among the cheap stocks to buy. It is a U.S.-based luxury EV manufacturer known for its Lucid Air sedan and is expanding its footprint with the upcoming Gravity SUV and a growing emphasis on advanced technology. The company operates high-tech manufacturing facilities in Arizona and focuses on performance, efficiency, and premium features. In July 2025, Lucid Group, Inc. (NASDAQ:LCID) launched key updates to its DreamDrive Pro driver-assistance system, including new hands-free driving and automated lane change features. These enhancements, delivered via over-the-air updates, place the company among leaders in driving automation and align with its long-term push toward autonomous capabilities. The corporation also announced that Air owners will gain access to Tesla's Supercharger network starting July 31, 2025, through a NACS adapter. This dramatically improves charging accessibility for LCID drivers and addresses a core challenge for EV adoption. The business expanded its manufacturing capacity with the opening of the Phoenix Hub, acquired from Nikola Corporation. This facility will support the production of the Gravity SUV and a future midsize EV platform, and is expected to create up to 500 jobs over the next few years. On the supply chain front, Lucid Group, Inc. (NASDAQ:LCID) partnered with critical mineral producers to strengthen sourcing resilience and support sustainable vehicle production in the U.S. Looking ahead, the company is ramping up Gravity SUV production and plans a 1:10 reverse stock split aimed at attracting a broader investor base. Additionally, a new marketing campaign featuring actor Timothée Chalamet will debut in fall 2025, reinforcing the corporation's image as a premium, innovative brand. While we acknowledge the potential of LCID as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None.
Forbes
25-06-2025
- Automotive
- Forbes
'One Big Beautiful Bill Act' Threatens America's Trucking Future
Before your food gets to the fridge, it likely travels long distances—on a diesel truck. From apples to iPhones, trucks move 72% of goods sold in America's stores, and freight costs shape what consumers pay, with those costs dictated by the volatile price of diesel fuel. Now, a quiet revolution is underway: Electric heavy-duty trucks are taking over the roads, and they could drive down consumer costs by cutting what it costs to ship the goods we buy. Global sales jumped 80% in 2024 compared to the year before—a surge that signals the shift is accelerating. San Pedro, CA - December 17: The first two zero-emissions electric trucks, from an order of 100 ... More vehicles, delivered from the Nikola Corporation to Total Transportation Services at the Port of Los Angeles in San Pedro on Friday, December 17, 2021. (Photo by Brittany Murray/MediaNews Group/Long Beach Press-Telegram via Getty Images) While the shift is most visible abroad, Energy Innovation's new report Delivering Affordability shows the same economic forces are taking hold across the United States. Battery-electric trucks will soon be cheaper than diesel trucks based on total cost of ownership across most vehicle types by 2030—even without subsidies. The potential payoffs for the American economy are significant: lower freight costs, lower consumer costs, expanded domestic manufacturing, and stronger global competitiveness. But that potential is at risk. The fate of federal clean energy tax credits in 'One Big Beautiful Bill Act' being debated by Congress will dictate whether the U.S. stays in the race or falls behind just as momentum builds. States are stepping up—but the version of the bill passed by one vote in the House of Representatives threatens to derail this transition. The question now is whether federal policy will steady the course or undermine it. The Cost Case for Electric Heavy-Duty Vehicles Energy Innovation's rigorous TCO analysis captures five-year ownership costs for battery-electric trucks—including vehicle purchase, fuel, maintenance, and charging infrastructure. The findings exclude federal and state purchase incentives. The results are striking. Across all categories, including Class 8 long-haul tractors, battery-electric trucks are projected to beat diesel by decade's end. And by 2035, electric truck TCO savings are estimated at $20,000 for Class 4–7 models, and more than $50,000 for Class 8 tractors. Still, today's sticker prices may raise questions. Globally, electric truck prices are falling, but the U.S. is a stubborn outlier. While costs fall in Europe and China, U.S. prices have risen. Two factors stand out: lack of new vehicle purchase price transparency and limited manufacturer competition. Reforms that address both would help align U.S. prices with global trends. What's at Stake: Affordability, Manufacturing, and Global Competitiveness Lower trucking costs ripple through supply chains, easing consumer price pressure. As inflation remains a top concern, electric HDVs offer a long-term deflationary lever hiding in plain sight. But the stakes go further. Since 2021, the U.S. has become the world's top destination for electric vehicle and battery manufacturing. Companies have committed $209 billion to U.S. EV projects, supporting an estimated 240,000 quality jobs. Mississippi officials described one such project, a commercial vehicle battery factory, as the largest payroll commitment in state history. The battery waits to be installed on the frame of Ford Motor Co. battery powered F-150 Lightning ... More trucks under production at their Rouge Electric Vehicle Center in Dearborn, Michigan on September 20, 2022. - Construction crews are back at Dearborn, remaking Ford's century-old industrial complex once again, this time for a post-petroleum era that is finally beginning to feel possible. The manufacturing operation's prime mission in recent times has been to assemble the best-selling F-150, a gasoline-powered vehicle (Photo by JEFF KOWALSKY / AFP) (Photo by JEFF KOWALSKY/AFP via Getty Images) Vehicle electrification is also a national competitiveness imperative. The International Energy Agency projects EVs (including plug-in hybrids) will make up 25% of global car sales in 2025, up from just 4% in 2020. Trucks are following suit: electric truck sales rose 80% globally in 2024. The message is clear—the market is moving. If the U.S. retreats, it won't stop the transition. It will just watch from the sidelines. States Can Stay In The Fast Lane Despite Federal Repeals Amid federal uncertainty, states have emerged as key actors. But even their leadership is under pressure as Congress recently voted to repeal California's vehicle pollution standards, which has also been adopted by many other states. Some states have signaled they will mount legal challenges, but this has introduced new uncertainty. To keep momentum, they should prioritize purchase incentives, accelerate charger deployment and prioritize affordable electricity rates. States can fast-track infrastructure by coordinating corridor plans, aligning funding, and adopting shared standards. Multi-state collaboration can ensure chargers are built where fleets need them most. Prioritizing affordable electricity rates, especially in states where wildfire-related costs are driving rates up. Energy Innovation's clean industrial rate design work points to a solution: lower rates for flexible demand. HDV charging is power-intensive enough to qualify as industrial use, with more flexibility than most industrial loads. The Fork in the Road Congress' effort to repeal California's standards is part of a broader push to dismantle the policies that sparked America's clean manufacturing surge. Federal rollbacks won't halt the global EV shift, but they could stall U.S. progress at a critical moment. They risk eroding investor confidence, slowing adoption, and jeopardizing billions in supply chain investment. This momentum isn't an engine that can be thrown in reverse. Manufacturing investments slowing in the United States over time The 'One Big Beautiful Bill' presents a pivotal choice. Preserving existing federal clean energy tax credits would send a powerful signal of continuity and commitment. Undermining them would reverse the very progress that made electric trucks viable in the first place, and now increasingly superior. The path to lower freight costs, expanded manufacturing, and stronger competitiveness is still within reach—but only if federal policy holds and states keep leading.
Yahoo
20-06-2025
- Automotive
- Yahoo
Where Will Lucid Group Be in 10 Years?
Lucid's new vehicles will boost sales and profits. The future of Lucid might not e building cars at all. 10 stocks we like better than Lucid Group › The next few years should be pivotal for Lucid Group (NASDAQ: LCID). The company recently onboarded a new CEO, started production on its new Gravity SUV platform, and announced several new vehicles, the first of which is expected to start production in late 2026. But what about the next 10 years? Keeping an eye on the long term is critical for investors. And the decade ahead might hold more surprises than you'd expect. Last week, Lucid opened a new research and development hub in Arizona. The company had previously purchased the facilities from Nikola Corporation, a defunct EV start-up. "These new facilities provide Lucid with immediate and substantial capacity for advanced manufacturing activities, as well as developing product innovations and testing components and systems," a company representative noted. There was a small nugget of surprise in the announcement, however, that had nothing to do with the facilities themselves. "Inside of this building are the first prototypes of a midsize SUV that will be priced under $50,000," one reporter revealed. Lucid's new CEO, Marc Winterhoff, confirmed that the location would be responsible for building the first iterations of these new models, saying that there will be "a pilot line where we build the first vehicles for our midsized platform." These revelations were interesting because they are the first real updates we've gotten about these new models in many months. Lucid began teasing three new mass market vehicles last summer, but updates have been hard to come by. Earlier this year, Lucid's former CEO stressed that these new models will finally allow the company to "compete directly with Tesla." He predicted the company would eventually sell more than 1 million vehicles per year by the early 2030s. But apart from optimistic comments like these, details have been scarce. Recent surveys show that a big majority of Americans are aiming to spend less than $50,000 on their next car purchase. To gain scale and reach profitability, getting these new affordable models to market will be critical for Lucid. We still don't have enough details to be confident in management's production timeline of late 2026. But expect these new models to be the centerpiece of Lucid's growth over the next two to five years. Looking beyond this time frame, however, Lucid's growth may not include selling vehicles at all. Making cars today involves significantly more technology than the past, especially when it comes to software. Complex software architectures are required not only for basic vehicle operation, but also emissions controls, safety features, and self-driving capabilities. Currently, many carmakers outsource much of this software stack to a list of third-party vendors. That adds significant cost and complexity. When Volkswagen agreed to invest $5.8 billion into a joint venture with EV maker Rivian, the focus wasn't making cars, but in using Rivian's unique software stack to streamline Volkswagen's production timelines. As a tech-focused EV maker, Lucid has also developed its own software stack, one that Lucid's management team believes could revolutionize the industry. The company has already begun licensing its technology to other automakers, helping them reduce manufacturing costs and improve vehicle efficiency. Lucid's CEO recently stated that most of Lucid's long-term business should come from tech licensing, not car manufacturing. "I'd love it to be 20-80. Twenty percent doing cars, 80% licensing," he revealed. "Because the vision I have for Lucid is: Just as there's an Intel inside your laptop, there's a Lucid inside a Honda or a Toyota." Making cars today simply provides Lucid with an ability to showcase this technology. And given that software typically has higher profit margins and recurring revenues than car manufacturing, this segment of the business is very promising. A decade from now -- at least if Lucid's management team gets its way -- expect Lucid to be more of a software business than a manufacturer. Before you buy stock in Lucid Group, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 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 $659,171!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $891,722!* Now, it's worth noting Stock Advisor's total average return is 995% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Ryan Vanzo has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Intel. The Motley Fool recommends Volkswagen Ag and recommends the following options: short August 2025 $24 calls on Intel. The Motley Fool has a disclosure policy. Where Will Lucid Group Be in 10 Years? was originally published by The Motley Fool
Yahoo
31-03-2025
- Automotive
- Yahoo
President Trump Pardons Nikola Founder Trevor Milton
Read the full story on The Auto Wire Controversial Nikola Corporation founder Trevor Milton received a full pardon by President Trump recently and not everyone's happy about it. Understandably, Milton is expressing gratitude and relief, saying when he first received a call with 'Executive Offices of the President of the United States' showing on the caller ID he wasn't sure if the call was fake or real. But it was very real, and Trump himself informed the man a pardon was covered in late February how all-electric commercial truck maker Nikola has filed Chapter 11 bankruptcy and is done as a company. That came after accusations of fraud by an investor, Milton resigning as CEO, the company settling with federal regulators for a $125 million fine, and Milton being convicted of fraud, himself receiving a $1 million fine and a four year prison sentence. Why Nikola failed as a company has been hotly contested, with the current CEO blaming 'various market and macroeconomic factors.' Interestingly enough, some media outlets have decided to leave some details of what President Trump said to the media out, making it sound like he doesn't know anything about Milton's case. We can't so for sure how much he does know, but we can say an article by CNBC snips out an important clause. The CNBC article quotes Trump saying, 'I think he (Milton) was exonerated.' Then it quotes where he says, 'And then they brought him into New York, he had a rough, rough road, and… he was exonerated. It was a big celebration.' Right after that, the article makes sure to state Milton was convicted in court in New York back in October 2022. Here's the full quote from President Trump: 'He did a business deal like in Utah, as I have it. And I think he was exonerated. And then they brought him into New York, he had a rough, rough road, and he was exonerated, it was a big celebration.' We're not going to weigh in on whether Milton committed securities fraud, but we do think it's important to note Milton had been exonerated in a Utah court, only for the case to be tried in New York, so Trump did in fact get that right. As for why the case was moved to New York, a press release put out by Trevor Milton offers a theory on that: "The 90+% conviction rate in New York is appalling and is a result of prosecutors getting whatever they want and putting innocent people in prison. I saw firsthand the tactics they use to achieve those guaranteed convictions.' Image via Nikola Corporation Join our Newsletter, subscribe to our YouTube page, and follow us on Facebook.
Yahoo
28-03-2025
- Automotive
- Yahoo
Trump Pardons Nikola Founder
Nikola Corporation founder Trevor Milton, convicted of fraud and sentenced to prison, reportedly received a pardon from President Donald Trump. Milton shared in an Instagram post that Trump called him to notify him of the full and unconditional pardon. The White House later confirmed the pardon, according to a report by Wall Street Journal. Most read on 3 Manufacturers Expand Operations in Michigan Ford Shows Off Treasure Trove of Rarely Seen Vehicles Lawsuit Targets Ford Mustang Mach-E's Unconventional Doors Boeing Receives Order for 60 737 MAX Airplanes Milton's pardon comes two weeks after Acting U.S. Attorney Matthew Podolsky requested that a court order him to pay nearly $676 million in restitution to his defrauded victims. The development has also brought attention to Milton's financial ties to Trump and the Republican Party, which includes a donation of $920,000 to Trump's fundraising committee and hundreds of thousands more to various Republican committees and politicians, according to the Federal Election Commission website. A jury convicted Milton in 2022 for deceiving investors about the zero-emission 18-wheel truck maker's technology. During the trial, prosecutors argued that Milton rebranded a General Motors vehicle as a Nikola truck and provided evidence of doctored videos that hid the trucks' flaws. The jury convicted Milton on one count of securities fraud and two counts of wire fraud, and a judge sentenced him to four years in prison in 2023. Last February, Nikola filed for Chapter 11 bankruptcy protection after forecasting it would run out of money this year. The company also announced in late March that it plans to voluntarily deregister with the SEC and delist from Nasdaq. Click here to subscribe to daily newsletters featuring breaking manufacturing industry news.
