Key HighlightsLucid (LCID) shares advanced 10% on Monday, closing at $6.69The company accessed $800 million from a term loan facility supported by Ayar Third Investment Company, a Saudi Arabia Public Investment Fund affiliateBattery electric vehicles represented nearly 30% of June new car registrations in the United KingdomBaird’s Ben Kallo maintained a Hold rating with a $6 price target, citing Q2 delivery figures that fell short of projectionsCFO Taoufiq Boussaid will exit following the Q2 earnings release, with Alexander De Bock named as successorLucid Group (LCID) shares surged 10% to reach $6.69 during Monday’s trading session, powered by new funding access and encouraging electric vehicle market signals.Lucid Group, Inc., LCIDAccording to an SEC filing, Lucid accessed $800 million from its delayed-draw term loan facility on July 6, 2026. The funding originates from a pre-existing arrangement with Ayar Third Investment Company, which operates as an affiliate of Saudi Arabia’s Public Investment Fund.This marks another chapter in Lucid’s ongoing financial relationship with Saudi-backed entities. Through Ayar and PIF, Lucid has secured numerous equity infusions and credit lines throughout recent years, enabling the company to expand production capacity while managing substantial cash consumption during its ramp-up period.The partnership extends well beyond simple financing arrangements. Saudi Arabia has integrated Lucid into its broader national strategy surrounding electric vehicle adoption and local EV production capabilities, transforming this into a strategic alliance with geopolitical dimensions.Strong UK Electric Vehicle Performance Boosts SentimentAdding momentum to electric vehicle stocks on Monday was encouraging data from the United Kingdom. Battery electric vehicles achieved nearly 30% penetration of new car registrations during June — marking the strongest monthly performance outside traditional seasonal peaks.For 2025 year-to-date, BEVs represent approximately 25% of total new vehicle registrations in the UK. Industry analysts point to elevated fuel prices, government support programs, and an expanding selection of affordable models as key catalysts.This type of market data provides fundamental support for investor confidence across the EV sector, and Lucid benefited from the positive spillover effect.From a technical perspective, LCID shares pushed above both the 20-day simple moving average at $5.52 and the 50-day SMA at $5.87. This represents a favorable near-term technical development.However, the stock remains substantially below its 100-day SMA positioned at $7.71 and its 200-day SMA at $11.50. The MACD indicator has crossed above its signal line with a positive histogram reading, indicating diminishing downward momentum — though the broader trend has not yet decisively turned bullish.Immediate resistance appears at the $7.00 psychological level, located just beneath the 100-day moving average zone. Nearby support is established around $5.50, where buying interest has recently emerged.Analyst Maintains Cautious Outlook Ahead of EarningsBaird’s Ben Kallo reaffirmed his Hold rating and $6 price target on LCID in advance of the company’s upcoming earnings announcement. Kallo observed that second-quarter delivery volumes fell short of both his internal forecast and broader Street expectations, despite demonstrating sequential and year-over-year growth.He also highlighted an executive transition. CFO Taoufiq Boussaid will depart following the Q2 earnings disclosure, with Alexander De Bock assuming the role. Kallo interprets this change as part of new CEO Silvio Napoli’s wider initiative to optimize operational efficiency.The consensus Wall Street view stands at Hold — comprising one Buy rating, eight Hold ratings, and two Sell ratings issued over the last three months. The average analyst price target of $9.75 suggests approximately 46% potential upside from current trading levels.Lucid is scheduled to release complete second-quarter financial results after market close on Tuesday, August 4.The post Lucid (LCID) Stock Surges 10% on $800M Funding Draw from Saudi-Backed Facility appeared first on Blockonomi.