15 Best EV Stocks To Buy According to Billionaires

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

Number of Billionaire Investors: 10

Number of Hedge Fund Holders: 24

Lucid Group Inc. (NASDAQ:LCID) is an American company that ranks among the best EV stocks to buy according to billionaires. The company designs, develops, and manufactures electric vehicles and also supplies advanced EV powertrain systems. Lucid Group Inc. (NASDAQ:LCID) currently offers its flagship model, the Lucid Air sedan, and the new Lucid Gravity SUV.

The company is currently focused on expanding its vehicle lineup and increasing production capacity. Lucid Group Inc. (NASDAQ:LCID) delivered 10,241 vehicles in 2024, up 71% compared to 2023. The company is expanding its production capabilities through its purpose-built EV factory in Arizona. Equipped with advanced production line equipment, the factory will initially produce 10,000 cars a year and over 300,000 annually with planned expansion.

In November 2024, Lucid Group Inc. (NASDAQ:LCID) began taking orders for its new Lucid Gravity SUV. In February 2025, the company made available the Lucid Gravity Grand Touring for Canadian customers. To support its business initiatives, Lucid Group Inc. (NASDAQ:LCID) completed a capital raise of approximately $1.75 billion in October 2024. This funding will provide financial stability and facilitate investments in production and technology.

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