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Electric Vehicle Stocks Response to Robotaxi Initiatives
Tesla launched its robotaxi pilot program in Austin, Texas, last month, while Lucid Group has partnered with Uber to deliver 20,000 self-driving vehicles, accompanied by a $300 million cash investment. Despite this excitement, analysts remain cautious; seven Wall Street analysts recently reaffirmed their predictions that Lucid’s stock will decline over the next 12 months.
Federal tax credits for electric vehicles are set to expire this September, potentially raising new EV purchase costs by $7,500 and reducing demand growth for most EV makers, including Rivian, Tesla, and Lucid. In the second quarter of 2025, EV sales decreased by 6.3% year-over-year, prompting concerns that sales declines could worsen in light of reduced incentives. Lucid has generated over $200 million from federal automotive regulatory credits but will face significant profitability impacts as these programs change.
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