2 Reasons Why Now Is the Time to Buy Lucid Group Stock

What's particularly noteworthy is Headlines for electric vehicle (EV) stocks are being dominated by Tesla's robotaxi launch in Austin, Texas

Nevertheless, However, Lucid could soon reach some exciting milestones

If you're looking to buy into the next Tesla, this could be your chance

Lucid Group could be the next Tesla for two reasons Lucid is doing a great job at mimicking Tesla's ven strategy for growth

First, it launched its luxury Air sedan and Gravity SUV platforms -- high-priced models similar to Tesla's Model S and Model X vehicles

Meanwhile, When Tesla launched its affordable models, sales went on to double, then triple, in the years that ed

Nevertheless, Moreover, By launching its own affordable models, Lucid has the opportunity to repeat this success story, given current economic conditions

But there's actually another catalyst that could make Lucid an even more compelling long-term buy

Moreover, Image source: Getty Images, given the current landscape

Several analysts believe that most of Tesla's value over the next decade won't be derived from selling cars, in light of current trends

Instead, Tesla's dominance will depend on services its new robotaxi division, in today's financial world

Similarly, Lucid's long-term value may be more related to services than manufacturing

Earlier this year, Peter Rawlinson, Lucid's outgoing CEO, stressed that the company's software and nology stack could eventually be licensed to other automakers worldwide. "I'd love it to be 20-80," Rawlinson said. "Twenty percent doing cars, 80% licensing

Moreover, " Licensing should come with higher fit margins, and perhaps a more durable economic moat

Conversely, Ryan Vanzo has no position in any of the stocks mentioned, in today's market environment

Moreover, The Motley Fool has positions in and recommends Tesla and Uber nologies

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