12 Best Battery Stocks to Buy According to Billionaires

9. Lucid Group, Inc. (NASDAQ:LCID)

Number of Billionaire Investors: 10

Lucid Group, Inc. (NASDAQ:LCID) manufactures and sells high-end electric vehicles, alongside EV powertrains and battery systems. The company sells directly to consumers through its online website and retail stores while growing production in America and Saudi Arabia. Lucis’ leading technology stands out, with the Air Pure sedan achieving an industry-best 5.0 miles per kilowatt hour (mi/kWh), showcasing its exceptional battery energy density and performance.

Lucid Group, Inc. (NASDAQ:LCID) hit record deliveries for four straight quarters in 2024, with 71% growth year-over-year and 10,241 delivered electric vehicles. The company’s performance improved with better gross margins and working capital, as seen through year-end liquidity that reached $6.13 billion; this enhanced liquidity was partially boosted through a $1.75 billion public offering in October 2024.

Moreover, Lucid started off with the manufacturing of the Gravity SUV at its AMP-1 factory, delivering the first batch in December 2024. Furthermore, it also opened Gravity orders in the U.S. in November, also expanding to Canada and Saudi Arabia. Meanwhile, its midsize platform is under development, predicted to start production in late 2026 at both its U.S. and Saudi facilities.

For 2025, Lucid Group, Inc. (NASDAQ:LCID) plans to make about 20,000 vehicles, more than double its 2024 output. However, early 2025 deliveries might face limits due to capacity issues. Moreover, the company’s main concern is regulatory risks like IRA credit changes and tariffs that could hit gross margins by 7-12%. To mitigate these cost pressures, Lucid is localizing its supply chain. While it has agreed to deliver up to 100,000 vehicles to Saudi Arabia, North American deliveries should grow in the coming quarter. As such, Lucid Group, Inc. (NASDAQ:LCID) is among the best battery stocks.