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Lucid Motors CEO expects to catch up to Tesla’s $1 trillion valuation in the future

Credit: Lucid Motors/Twitter

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Lucid Group CEO Peter Rawlinson recently stated that there’s a long runway for the electric car startup’s stock and valuation. The CEO noted that this runway would allow Lucid to surpass veteran automakers such as Ford and perhaps even be valued similarly like industry leader Tesla Inc. 

Rawlinson is no stranger to commenting on Tesla. Being one of the people who helped bring the Model S to fruition, Rawlinson eventually left the company before the flagship sedan could be fully ramped. The CEO regularly compares Lucid to his former employer, especially in terms of in-house technologies. 

Commenting on Lucid stock’s recent pop to CNBC on Wednesday, Rawlinson and CFO Sherry House noted that the company’s recent rise is proof that Lucid is now being valued more like Tesla and less like a conventional carmaker. And with this in mind, Rawlinson noted that the sky is now the limit, though he did note that things would depend largely on whether Lucid could execute on its plans or not. 

“I think the sky’s the limit in terms of valuation, but it’s all about execution. It’s all about execution, it’s all about scaling volume. And that’s my focus. And I think the share price lookup as a result. I feel great about our stock price. The run-up that we’ve had, where it is today and also the growth trajectory, frankly, that’s in front of us. I see that we’re being regarded as a technology company with a platform that’s extensible across lots of vehicle variants and sustainable tech,” Rawlinson said. 

Lucid currently has a market cap of $89.87 billion, surpassing Ford, which currently has a valuation of $79.09 billion. Lucid’s stock price is up by over 80% since the company went public via a SPAC deal earlier this year. Yet despite this, it is still far below the market cap of Tesla, which currently remains above $1 trillion despite Elon Musk’s ongoing TSLA stock selloff. 

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While Lucid’s stock is at a tear, the company is still in its initial stages of vehicle production. Only a few Lucid Air sedans have been delivered so far, though the company is looking to increase its output next year. Rawlinson, for his part, remains optimistic, especially since the Air recently won MotorTrend’s 2022 Car of the Year award. “I think the world recognizes we’ve got an amazing product. I think everyone realizes what I’ve been promising would be the best car in the world. It’s true. It’s happened,” Rawlinson said.  

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Simon is an experienced automotive reporter with a passion for electric cars and clean energy. Fascinated by the world envisioned by Elon Musk, he hopes to make it to Mars (at least as a tourist) someday. For stories or tips--or even to just say a simple hello--send a message to his email, simon@teslarati.com or his handle on X, @ResidentSponge.

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Texas lawmakers urge Tesla to delay Austin robotaxi launch to September

The letter urges Tesla to delay its initial robotaxi launch in the interest of public safety.

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Credit: @HanChulYong/X

A group of Democratic lawmakers from Austin is asking Tesla to postpone its planned robotaxi rollout, at least until a new state law governing autonomous vehicles takes effect in September.

The letter, which was sent Wednesday, urges Tesla to delay its initial robotaxi launch in the interest of public safety.

What the lawmakers’ letter says

In their letter, the Democratic lawmakers stated that delaying Tesla’s initial robotaxi launch would build trust in the electric vehicle maker’s autonomous vehicle operations.

“We are formally requesting that Tesla delay autonomous robotaxi operations until the new law takes effect on September 1, 2025. We believe this is in the best interest of both public safety and building public trust in Tesla’s operations,” the letter read.

The lawmakers noted that if Tesla wishes to push through with its planned June 22 launch, the company must provide detailed information explaining its robotaxi service’s initial launch.

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New rules kick in September

The new Texas law passed state legislature last month, and it introduces stricter requirements for companies deploying fully self-driving cars. 

Current state law allows autonomous vehicle testing without a human driver, as long as vehicles meet basic registration and insurance standards. The updated framework gives state agencies more oversight, including the ability to revoke permits if autonomous vehicles pose safety risks.

It remains to be seen if the Democratic lawmakers’ efforts will bear fruit, especially since Texas is state where Republicans hold the governorship and majorities in both legislative chambers, as noted in a Reuters report.

Elon Musk, for his part, confirmed that Tesla’s initial robotaxi launch for Austin this June will start with a small fleet of Model Y vehicles. He also noted the service would initially operate only in parts of the city the company deems safest.

Tesla has not issued a comment about the Democratic lawmakers’ letter as of writing.

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xAI’s Grok 3 partners with Oracle Cloud for corporate AI innovation  

Elon Musk’s xAI partners with Oracle to deliver Grok 3 to enterprise users via OCI. The move boosts Grok’s reach.

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Credit: Elon Musk | X

xAI’s Grok 3 is partnering with Oracle Cloud to deliver its advanced AI model to corporate customers.

Oracle announced its collaboration with xAI earlier this week. The partnership leverages Oracle’s robust infrastructure to offer xAI’s Grok 3, positioning it as a transformative tool for business applications.

“Today, we announced xAI has selected Oracle to offer xAI’s Grok models via OCI Generative AI service for a wide range of use cases and will use OCI’s leading AI infrastructure to train and run inferencing for its next-generation Grok models,” said Clay Magouyrk, Executive Vice President at Oracle Cloud Infrastructure, via LinkedIn.

Oracle’s cost-effective AI capabilities will support xAI’s demanding workloads, enabling faster processing for enterprise users.

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Oracle’s Karan Batta told Reuters: “Our goal here is to make sure that we can provide a portfolio of models – we don’t have our own.” Oracle will host Grok 3 alongside models from Meta, Mistral, and Cohere, ensuring corporate data remains secure within existing Oracle protections.

Oracle’s strategy focuses on integrating popular AI models into corporate software, and xAI’s Grok 3 enhances this portfolio. The collaboration expands Grok’s reach to businesses seeking secure, high-performance AI solutions for diverse use cases.

Elon Musk’s xAI launched Grok 3 in February. It competes with models from DeepSeek and OpenAI. Grok 3 is free for all X users, but features are limited. X offers Premium and Premium+ subscribers access to Grok 3’s advanced capabilities like DeepResearch and Think modes. Users who are not paid subscribers have access to Grok 3’s basic features.

Elon Musk’s companies have a longstanding relationship with Oracle. In 2018, Tesla appointed Oracle founder Larry Ellison to its board, a move Wedbush analyst Daniel Ives called a “home run appointment.”

In 2023, Ellison–who is no longer on Tesla’s board but still close with Musk–revealed plans for a Tesla Cybertruck police car.

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“Our next-generation police car is coming out very soon,” Ellison said at the 2023 Oracle CloudWorld conference in Las Vegas. “It’s my favorite police car. It’s my favorite car, actually. It’s Elon’s favorite car.”

Grok 3’s integration into Oracle Cloud strengthens xAI’s position in the corporate artificial intelligence market. By combining Oracle’s infrastructure with Grok’s cutting-edge capabilities, this collaboration could redefine enterprise AI adoption, driving innovation across industries.

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Tesla Robotaxis are becoming a common sight on Austin’s public roads

Tesla Robotaxi sightings are becoming much more frequent ahead of its launch planned for this month.

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Credit: @Muzeishen | X

Tesla Robotaxis are becoming a common sight on the public roads of Austin, Texas, as yet another test mule has been spotted near the company’s target launch date.

Just over a week ago, the first public sighting of a driverless Tesla Robotaxi was reported. The vehicle was an updated version of the Tesla Model Y, which will be the initial model used in the public deployment of the Robotaxi platform.

Throughout the past week, sightings have been more common, as people in Austin have been looking for the unique decal Tesla is placing on car doors to recognize the driverless vehicles (After all, Robotaxis are not as easy to recognize as driverless vehicles without the LIDAR unit on the roof like Waymo).

Yet another sighting of a Robotaxi was shared on social media today, just two days before CEO Elon Musk’s proposed launch date of June 22:

It is easy to tell that there is nobody in the driver’s seat of this vehicle. Tesla is using its white interior on this particular mule, making it incredibly simple to recognize that no human is controlling the car.

Whether Tesla will still meet the June 22nd deadline remains to be seen, but it is no secret that the company is prioritizing safety ahead of offering public rides.

Tesla will initially roll out the Robotaxi platform in Austin, but it has already started the regulatory process in other areas, specifically California.

The National Highway Traffic Safety Administration (NHTSA) is also helping to streamline the process for companies developing driverless vehicles by giving exemptions to automakers. It will make things much more efficient, benefiting Tesla and other car companies that have similar plans.

Tesla Robotaxi just got a big benefit from the U.S. government

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