Ford Price Cuts Heat Up EV Competition; Rivian and Lucid Stocks Face Pressure

Ford cut prices on its electric F-150 Lightning trucks and Mustang Mach-E SUVs, putting pressure on EV startups like Rivian and Lucid to compete.

Rivian stock is down 59% year-to-date amid weakening EV demand, higher interest rates, and increased competition.

Lucid stock has dropped 69% in the past year due to similar industry headwinds and continued cash burn issues.

Analyst consensus rating on Lucid stock is a Hold, with a $3.21 average price target (28% upside).

Rivian has a Moderate Buy consensus rating from analysts, who see 84.6% upside potential to a $17.67 average price target.