1 Surprising Reason I'm Keeping My Eye on Lucid Group Stock Right Now

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Instead, they want investors to think of them as tech stocks, or even AI stocks. Just look at Tesla (NASDAQ: TSLA). Tesla's vehicle sales have declined so far this year, yet its market cap is soaring due to opportunities with autonomous robots and self-driving robotaxis.Lucid Group (NASDAQ: LCID) is one of the smaller EV stocks on the market today. But it wants to evolve into something bigger than just an auto manufacturer. In light of that, there's one thing in particular that I'm keeping a close eye on.At least for now, Tesla has convinced investors that it is more than just an auto manufacturing business. Some analysts are even calling Tesla "the most undervalued AI name" on the market -- an odd accolade for a company that has yet to prove its AI technology at scale.While it isn't as focused on AI, Lucid Group has long tried to transition from a manufacturing company to a tech business. The company's former CEO, Peter Rawlinson, repeatedly stated that, long term, he'd like the business to be roughly 20% automaker and 80% tech supplier. "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," Rawlinson stressed earlier this year.Image source: Getty Images.This summer, Lucid made its first moves toward this vision with a blockbuster deal with Uber Technologies. Uber needs vehicles to launch its own robotaxi division. These vehicles need to be tech-heavy, with all the necessary components for autonomous driving. Apparently, Lucid's vehicles passed the test, with Uber expected to take delivery of 20,000 Lucid vehicles over the coming years.We're still a long way out from Lucid becoming a tech supplier versus a manufacturing business. But I'm encouraged by the social validation provided by the Uber deal. I'll be watching the company's evolution closely.Before you buy stock in Lucid Group, consider this:The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks 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 $587,288!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,243,688!*Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,840.20 +17.86 (+0.26%)Dow 3047,562.87 +40.75 (+0.09%)Nasdaq23,724.96 +143.81 (+0.61%)Russell 20002,479.38 +13.43 (+0.54%)VIX17.44 +0.53 (+3.13%)Gold3,996.50 -19.40 (-0.48%)PortfolioSign in to access your portfolioSign inTop gainersBHF Brighthouse Financial, Inc. 57.07 +11.38 (+24.91%)ILMN Illumina, Inc. 123.54 +24.53 (+24.78%)TWLO Twilio Inc. 134.88 +22.02 (+19.51%)TVTX Travere Therapeutics, Inc. 35.16 +5.51 (+18.58%)BFAM Bright Horizons Family Solutions Inc. 109.23 +16.95 (+18.37%)Top losersATGE Adtalem Global Education Inc. 98.02 -43.75 (-30.86%)SPSC SPS Commerce, Inc. 82.24 -21.65 (-20.84%)TBBK The Bancorp, Inc. 65.37 -11.83 (-15.32%)DXCM DexCom, Inc. 58.22 -9.98 (-14.63%)ABR Arbor Realty Trust, Inc. 10.09 -1.46 (-12.64%)Most activeNVDA NVIDIA Corporation 202.49 -0.32 (-0.16%)AMZN Amazon.com, Inc. 244.22 +21.36 (+9.58%)PFE Pfizer Inc. 24.65 +0.36 (+1.48%)OPEN Opendoor Technologies Inc. 7.77 +0.43 (+5.86%)ONDS Ondas Holdings Inc. 6.44 +0.15 (+2.38%)Earnings eventsMy earnings eventsEarnings eventsTrending tickersBTC-USD Bitcoin USD 110,560.76 +634.06 (+0.58%)ETH-USD Ethereum USD 3,858.89 -13.77 (-0.36%)XRP-USD XRP USD 2.52 +0.01 (+0.60%)BRK-B Berkshire Hathaway Inc. 477.54 -0.98 (-0.20%)SOL-USD Solana USD 185.22 -0.41 (-0.22%)Top economic events