Lucid’s Gravity SUV Deliveries Spark High Hopes — But Skepticism Lingers
As LCID stock stirs debate, investors juggle optimism around growth and fear over dilution
Lucid Motors (ticker LCID, listed on NASDAQ, sector: Electric Vehicles) has quickly become one of the hottest topics in the EV conversation as Gravity SUV deliveries officially began in Canada. The excitement is real, but so are the concerns — two forces that are shaping how investors view the company’s near-term future.
The Gravity marks Lucid’s strategic entry into the highly competitive SUV market, a segment that has fueled much of the auto industry’s growth over the past decade. This model was designed to offer the interior space and flexibility of a full-size SUV while keeping the footprint of a mid-size vehicle. Analysts highlight its projected range of up to 450 miles, powered by an 84 kWh battery pack, cementing its position in the electric vehicle sector.
On October 13, 2025, Lucid officially began delivering the Gravity SUV in Canada, a milestone that boosted LCID stock during the trading session. This step signals that the company is moving from promises to real execution, something investors have been waiting for. However, this is just one piece of the larger picture that will define Lucid’s trajectory.
One of Lucid’s most controversial moves has been the proposal of a 1-for-10 reverse stock split, aiming to reduce the number of outstanding shares from approximately 3.0726 billion to 307.3 million. According to the company, this decision seeks to make LCID more attractive to institutional investors and maintain compliance with NASDAQ listing requirements.
While this type of action doesn’t affect voting power or proportional ownership, fractional shares will be cashed out, and many investors interpret reverse splits as warning signs of financial pressure.
Meanwhile, third-quarter deliveries reached a new record for Lucid at 4,078 vehicles, representing a 46.6% year-over-year increase. Much of this momentum comes from the Gravity SUV launch and the upcoming expiration of EV tax incentives, which has accelerated purchases. Still, the total volume remains modest compared to legacy automakers and fast-growing EV rivals.
In a strategic pivot, Lucid announced a partnership with Uber and Nuro to deploy at least 20,000 Gravity SUVs in an autonomous ride-hailing program over the next six years. Under this agreement, Lucid will manufacture the vehicles, Nuro will provide the self-driving technology, and Uber will offer its mobility platform. This is a bold move into the robotaxi market, a space with massive potential but also serious regulatory and technical challenges.
Investor sentiment is sharply divided. Many analysts and shareholders view LCID as an undervalued stock, pointing to its cash reserves, manufacturing flexibility, and strong technology as key competitive advantages. Some firms have even projected up to 119% upside potential for the stock.
However, critics highlight the risk of future dilution, the company’s high cash burn rate, and the difficulty of scaling operations in an increasingly aggressive EV landscape. Lucid has already lowered its 2025 production guidance, citing operational and logistical challenges. Adding to the uncertainty, Peter Rawlinson stepped down as CEO, and Marc Winterhoff, previously COO, is now serving as interim CEO.
What’s clear is that Lucid is shifting gears. The LCID ticker is no longer just about an EV sedan maker — it’s now a bold bet on SUVs, autonomy, and strategic alliances. Whether this play becomes a breakout success or a costly stumble will depend less on promises and more on disciplined execution, financial control, and market reaction in the months ahead.