EV Co has shared an update. The post highlights a sharp rise in Lucid Group’s share price after Cantor Fitzgerald reaffirmed that Saudi Arabia’s Public Investment Fund (PIF) remains committed to backing the EV maker, maintaining a $21 price target that implies roughly 110–116% upside from recent trading levels.
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For investors, the note from Cantor Fitzgerald is significant because it addresses concerns about Lucid’s long-term capital needs, given the high cash burn typical in the electric vehicle sector and ongoing macro headwinds. Strong, sustained support from a well-capitalized sovereign investor like PIF reduces near-term funding risk and may improve Lucid’s ability to execute on its autonomy and product roadmap without excessive shareholder dilution.
If Lucid can leverage this funding stability to advance its autonomy plans and scale production, it could strengthen its competitive position in the premium EV segment. However, the upside case implied by the price target will depend on Lucid’s ability to meet volume, margin, and technology milestones in a crowded market dominated by larger incumbents and well-funded peers. The market’s 15% single-day share price move underscores elevated volatility and sensitivity to financing and strategic signals in the EV space.