Lucid Collaborates With 4 Critical Mineral Producers To Strengthen Supply Chain: Retail Deems It A ‘Comeback’

EV maker Lucid Group Inc. (LCID) announced on Wednesday that it will collaborate with four critical mineral producers to help ease their procurement for use in car manufacturing by U.S. carmakers and suppliers.

On Stocktwits, retail sentiment around Lucid trended in the ‘extremely bullish’ territory over the past 24 hours, accompanied by ‘extremely high’ message volume.

The EV maker has joined forces with Alaska Energy Metals, Graphite One, Electric Metals, and RecycLiCo.

The collaboration will work to advance domestic mineral production through the completion of offtake agreements for American critical minerals, accelerating commercialization and customer adoption, expanding coordination between mining and automotive sectors, and supporting the qualification and procurement of domestically produced materials by U.S. automakers and top-tier suppliers.

Alaska Energy Metals, Graphite One, and Electric Metals USA develop critical minerals used in the production of lithium-ion batteries used in EVs, such as nickel, graphite, and manganese. RecycLiCo is a critical minerals refining company whose processes help recover battery-ready lithium, cobalt, nickel, and manganese from end-of-life batteries and manufacturing scrap.

According to a poll on Stocktwits, which garnered 5,900 votes at the time of writing, 17% of respondents are most bullish on Lucid, compared to 40% for Nio, 33% for Tesla, and 10% for Rivian.

A Stocktwits user opined that Lucid is making a “comeback.”

Another, however, expressed concerns regarding the overall market.

Lucid recently announced that Uber aims to deploy 20,000 or more Lucid vehicles to its fleet as robotaxis over the next six years. The company also said on Tuesday that all of its Lucid Air sedan models will have access to the Tesla Supercharger network starting July 31.

LCID stock has increased by approximately 4% this year but fell 10% over the past 12 months.

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