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.

Lucid Expands US Supply Chain with Multi-Year Graphite Deal

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 risk and potential of LCID as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than LCID and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.