Rivian and Lucid Shares Plunge to All-Time Lows as EV Price Wars Intensify

• Shares of Rivian and Lucid hit all-time lows after Ford cuts prices on electric F-150 pickup • Price war on EVs weighs on margins, threatens profitability timeline for startups like Rivian and Lucid • Rivian stock drops below $10 per share for the first time since IPO in Nov 2021 • Lucid closes at record low if afternoon decline holds • Slowing EV demand prompts more automakers to slash prices, sparking worries of more cuts ahead