Lucid Launches Alliance With 4 US Mineral Producers
Lucid 
LCID forms an alliance with 4 North American miners to secure critical minerals for U.S. EV production.
The collaboration brings together Lucid and Alaska Energy Metals, Graphite One, Electric Metals and RecycLiCo to launch the Minerals for National Automotive Competitiveness Collaboration.
It officially kicked off with a roundtable in Washington, D.C., attended by Arizona Governor Katie Hobbs, Alaska Senator Dan Sullivan and Reps. Nick Begich and Andy Biggs.
The initiative aims to lock down offtake agreements for lithium, graphite and recycled materials in domestic auto manufacturing, tackle commercialization barriers, boost customer adoption, strengthen coordination between mining and automotive sectors and qualify U.S.?produced inputs for OEMs and Tier 1 suppliers.
Interim CEO Marc Winterhoff said, We are doubling down on our commitment to powering American innovation and look forward to working with our partners as we build the next generation of automotive manufacturing in the United States.
Lucid Group faces a skeptical outlook based on the chart above, with its average 12-month price target set at $2.68, down roughly 10% from current levels.
Though the most bullish scenario sees Lucid stock reaching $7, the bearish case warns of a slide to just $1.