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Tesla (NASDAQ: TSLA) is valued at over $1.2 trillion, significantly surpassing competitors like Rivian at $18 billion and Lucid Group (NASDAQ: LCID) at $4 billion. Lucid has the potential for substantial growth; if it reached Tesla’s valuation, investors could see returns of 300 times their initial investment.
Tesla’s premium valuation is driven primarily by its robotaxi service, which Cathie Wood estimates could be worth between $5 trillion and $10 trillion globally. Lucid has partnered with Uber Technologies, securing a $300 million investment to supply 20,000 vehicles over six years for Uber’s robotaxi division. Despite this growth, Lucid has suffered due to share dilution, causing a loss of over 90% for shareholders since its revenue rose from nearly $0 to above $1 billion in 2021.
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