Electric vehicle (EV) stocks are rebranding themselves as tech or AI stocks to attract investors. Tesla’s market cap is soaring despite declining vehicle sales, thanks to autonomous robot opportunities. Lucid Group aims to shift from auto manufacturing to tech, with a deal to supply Uber with tech-heavy vehicles for robotaxis.

Lucid is following Tesla’s lead in transitioning to a tech business. The company’s CEO envisions being 20% automaker and 80% tech supplier in the future. A recent deal with Uber for 20,000 tech-heavy vehicles indicates progress towards this goal. Analysts see Tesla as an undervalued AI stock, with Lucid also focusing on tech evolution.

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Read more at Nasdaq: 1 Surprising Reason I’m Keeping My Eye on Lucid Group Stock Right Now