<p><strong>Lucid Group</strong>（LCID 0.76%）和 <strong>Rivian Automotive</strong>（RIVN 4.04%）是市场上最令人兴奋的电动车股票之一。两者都有令人振奋的增长潜力，但今天只有一只股票显然值得购买。让我们来看看是哪一只。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzMwODQvZ2V0dHlpbWFnZXMtMTMyOTUwMzU4NS0xMjAweDY3NS0xMjg1NTRlLTEuanBnJnc9NzAw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzMwODQvZ2V0dHlpbWFnZXMtMTMyOTUwMzU4NS0xMjAweDY3NS0xMjg1NTRlLTEuanBnJnc9NzAw"/></p>
<p>图片来源：Getty Images。</p>
<h2>Lucid 刚刚与 Uber 达成 3 亿美元的交易</h2>
<p>Lucid 这个夏天的大新闻是与 <strong>Uber Technologies</strong> 的新合作关系。作为全球最大的共享出行公司之一，Uber 理所当然地关注全球机器人出租车市场，专家们认为该市场的价值将达到数万亿美元。Uber 过去曾涉足自动驾驶汽车，但其最大障碍在于缺乏可行的技术。这就是为什么 Uber 与 Lucid 的合作关系如此合乎逻辑。</p>
<p>多年来，Lucid 更像是一家科技公司而非汽车制造商。其前首席执行官在今年早些时候表示，他希望公司能成为 20% 的汽车制造商和 80% 的技术供应商。这一愿景在 Lucid 与 Uber 的最新交易中部分实现，该交易将利用 Lucid 技术密集型的车辆为其自动驾驶出租车车队服务。Uber 同意在未来六年内购买 20,000 辆 Lucid 汽车，并向 Lucid 投资 3 亿美元。</p>
<p>Lucid 面临的问题将是时机。该交易为期六年，但 Lucid 现在急需帮助。上个季度，Lucid 的净亏损为 5.39 亿美元，超过了 Uber 的全部现金注入。与此同时，Uber 的机器人出租车服务最早要到 2026 年底才能开始。</p>
<p>在此期间，Lucid 将需要依赖其 Gravity SUV 平台的消费者销售增长。华尔街预计今年销售将增长 60%，到 2026 年预计再增长 90%。但由于其产品线中只有两款高价车型，以及机器人出租车机会可能需要数年才能实现，Lucid 在中期内实现盈利将非常困难。</p>
<h2>Rivian 将未来押注于三款新电动车</h2>
<p>Rivian 的增长路径与 Lucid 截然不同。该公司即将迎来大多数电动车制造商梦寐以求的里程碑：推出可负担的量产车型。R2 预计将以 45,000 美元的起售价于明年初开始生产。新的工厂扩建将很快完成，扩建将支持每年生产 155,000 辆 R2。作为对比，Rivian 在 2024 年总共售出了约 50,000 辆汽车。</p>
<p>R3 和 R3X 这两款预计起售价低于 50,000 美元的额外车型预计将在 2026 年底或 2027 年初开始生产。随着它们的推出，Rivian 将拥有三款适合大众的可负担车型。相比之下，Lucid 现有的两款车型售价在 70,000 美元到 80,000 美元之间，尽管选项和升级可能使总价格远超 100,000 美元。</p>
<p>69% 的美国人希望在下一次购车时花费少于 50,000 美元，因此 Rivian 在迎合大众市场方面处于有利地位。</p>
<h2>Rivian 与 Lucid 股票——哪家公司胜出？</h2>
<p>在收入增长方面，Lucid 和 Rivian 都有光明的未来。但在投资方面，Rivian 股票显然是赢家。</p>
<p>Rivian 的量产车型即将成为现实，而 Lucid 在 2027 年之前不会有任何新车型推出。Lucid 在机器人出租车市场的曝光令人兴奋，但预计该公司在未来几年将难以保持盈利。与此同时，Rivian 已经实现了正的毛利率。通过积极扩大便宜车型的生产，该公司有很大机会实现规模经济，或许足以产生正的净利润。</p>
<p>最后，Rivian 的股票交易价格仅为销售额的 2.9 倍，远低于 Lucid 的 6.5 倍。在 2025 年，Rivian 为 2026 年做好了准备，预计销售大幅增长，利润率改善将成为现实。Lucid 今年的表现也令人振奋，但可能要到 2027 年我们才能看到盈利能力的显著改善，或在其供应机器人出租车行业的能力上取得实际进展。</p>

LCID

RIVN

<p>Rivian 和 Lucid Group 是两只知名的电动车股票，各自拥有独特的增长前景。Lucid 最近与 Uber 签署了一项价值 3 亿美元的协议，为其机器人出租车车队提供 20,000 辆车辆，但由于高额亏损和服务推出延迟，面临盈利挑战。相比之下，Rivian 即将推出价格适中的大众市场车型，其 R2 型号的生产即将开始。Rivian 的战略使其在增长方面处于有利位置，毛利率积极，市销率低于 Lucid。总体而言，Rivian 被视为 2025 年更好的投资选择</p>

<p><strong>Lucid Group</strong>(LCID 0.76%) and <strong>Rivian Automotive</strong>(RIVN 4.04%) are two of the most exciting electric car stocks on the market. Both have exciting growth potential, but only one stock is an obvious buy today. Let's find out which one that is.</p>
<div class="lb-trans"><p><strong>Lucid Group</strong>（LCID 0.76%）和 <strong>Rivian Automotive</strong>（RIVN 4.04%）是市场上最令人兴奋的电动车股票之一。两者都有令人振奋的增长潜力，但今天只有一只股票显然值得购买。让我们来看看是哪一只。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzMwODQvZ2V0dHlpbWFnZXMtMTMyOTUwMzU4NS0xMjAweDY3NS0xMjg1NTRlLTEuanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F833084%2Fgettyimages-1329503585-1200x675-128554e-1.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><h2>Lucid just secured a $300 million deal with Uber</h2>
<div class="lb-trans"><h2>Lucid 刚刚与 Uber 达成 3 亿美元的交易</h2>
</div><p>The big news for Lucid this summer has been its new partnership with <strong>Uber Technologies</strong>. As one of the largest ride-sharing businesses in the world, Uber reasonably has its eyes on the global robotaxi market, which experts believe will be worth many trillions of dollars. Uber has dabbled in autonomous vehicles in the past. But its biggest hurdle has simply been a lack of viable technology. This is why Uber's partnership with Lucid makes so much sense.</p>
<div class="lb-trans"><p>Lucid 这个夏天的大新闻是与 <strong>Uber Technologies</strong> 的新合作关系。作为全球最大的共享出行公司之一，Uber 理所当然地关注全球机器人出租车市场，专家们认为该市场的价值将达到数万亿美元。Uber 过去曾涉足自动驾驶汽车，但其最大障碍在于缺乏可行的技术。这就是为什么 Uber 与 Lucid 的合作关系如此合乎逻辑。</p>
</div><p>For years, Lucid has pitched itself more as a technology company than a car maker. Its former CEO stated earlier this year that he'd like the company to be 20% car maker and 80% technology supplier. This vision has partially been realized with Lucid's latest deal with Uber, which will leverage the company's tech-heavy vehicles for its fleet of autonomous taxis. Uber agreed to purchase 20,000 Lucid vehicles over the next six years, as well as invest $300 million into Lucid.</p>
<div class="lb-trans"><p>多年来，Lucid 更像是一家科技公司而非汽车制造商。其前首席执行官在今年早些时候表示，他希望公司能成为 20% 的汽车制造商和 80% 的技术供应商。这一愿景在 Lucid 与 Uber 的最新交易中部分实现，该交易将利用 Lucid 技术密集型的车辆为其自动驾驶出租车车队服务。Uber 同意在未来六年内购买 20,000 辆 Lucid 汽车，并向 Lucid 投资 3 亿美元。</p>
</div><p>The issue for Lucid will be timing. The deal spans six years, but Lucid needs help right now. It posted a net loss of $539 million last quarter -- more than Uber's entire cash infusion. Uber's robotaxi service, meanwhile, won't begin until late 2026 at the earliest.</p>
<div class="lb-trans"><p>Lucid 面临的问题将是时机。该交易为期六年，但 Lucid 现在急需帮助。上个季度，Lucid 的净亏损为 5.39 亿美元，超过了 Uber 的全部现金注入。与此同时，Uber 的机器人出租车服务最早要到 2026 年底才能开始。</p>
</div><p>Lucid will need to rely on rising consumer sales of its Gravity SUV platform in the meantime. Wall Street expects sales to grow by 60% this year, with another 90% growth expected in 2026. But with only two high-priced models in its lineup, and a robotaxi opportunity that could take years to play out, it will remain very difficult for Lucid to turn profitable over the medium term.</p>
<div class="lb-trans"><p>在此期间，Lucid 将需要依赖其 Gravity SUV 平台的消费者销售增长。华尔街预计今年销售将增长 60%，到 2026 年预计再增长 90%。但由于其产品线中只有两款高价车型，以及机器人出租车机会可能需要数年才能实现，Lucid 在中期内实现盈利将非常困难。</p>
</div><h2>Rivian is betting its future on three new electric vehicles</h2>
<div class="lb-trans"><h2>Rivian 将未来押注于三款新电动车</h2>
</div><p>Rivian's path toward growth is very different than Lucid's. The company is nearing a milestone that most EV makers dream of: the launch of affordable, mass-market vehicles. The R2 -- which is expected to debut with a starting price of $45,000 -- is set to begin production early next year. New factory additions will be finalized soon, with the expansions supporting the production of 155,000 R2s per year. For context, Rivian sold a total of around 50,000 vehicles in 2024.</p>
<div class="lb-trans"><p>Rivian 的增长路径与 Lucid 截然不同。该公司即将迎来大多数电动车制造商梦寐以求的里程碑：推出可负担的量产车型。R2 预计将以 45,000 美元的起售价于明年初开始生产。新的工厂扩建将很快完成，扩建将支持每年生产 155,000 辆 R2。作为对比，Rivian 在 2024 年总共售出了约 50,000 辆汽车。</p>
</div><p>The R3 and R3X -- two additional models that are expected to have starting prices under $50,000 -- are expected to begin production in late 2026 or early 2027. With their launch, Rivian will have three vehicles that are affordable to the masses. For comparison, Lucid's two existing models cost $70,000 to $80,000, though options and upgrades can bring the total price well above $100,000.</p>
<div class="lb-trans"><p>R3 和 R3X 这两款预计起售价低于 50,000 美元的额外车型预计将在 2026 年底或 2027 年初开始生产。随着它们的推出，Rivian 将拥有三款适合大众的可负担车型。相比之下，Lucid 现有的两款车型售价在 70,000 美元到 80,000 美元之间，尽管选项和升级可能使总价格远超 100,000 美元。</p>
</div><p>With 69% of Americans hoping to spend less than $50,000 on their next vehicle purchase, Rivian is in the driver's seat when it comes to catering to the mass market.</p>
<div class="lb-trans"><p>69% 的美国人希望在下一次购车时花费少于 50,000 美元，因此 Rivian 在迎合大众市场方面处于有利地位。</p>
</div><h2>Rivian versus Lucid stock -- which company wins?</h2>
<div class="lb-trans"><h2>Rivian 与 Lucid 股票——哪家公司胜出？</h2>
</div><p>Both Lucid and Rivian have bright futures when it comes to revenue growth. But when it comes to investing, Rivian stock is the clear winner.</p>
<div class="lb-trans"><p>在收入增长方面，Lucid 和 Rivian 都有光明的未来。但在投资方面，Rivian 股票显然是赢家。</p>
</div><p>Rivian's mass market vehicles are nearing reality, while Lucid won't see any new model introductions until at least 2027. Lucid's exposure to the robotaxi market is exciting, but expect the company to struggle to maintain profitability for years to come. Rivian, meanwhile, has already posted positive gross margins. By aggressively ramping up production of cheaper vehicles, the company has a strong chance of achieving economies of scale, perhaps enough to generate positive net profits.</p>
<div class="lb-trans"><p>Rivian 的量产车型即将成为现实，而 Lucid 在 2027 年之前不会有任何新车型推出。Lucid 在机器人出租车市场的曝光令人兴奋，但预计该公司在未来几年将难以保持盈利。与此同时，Rivian 已经实现了正的毛利率。通过积极扩大便宜车型的生产，该公司有很大机会实现规模经济，或许足以产生正的净利润。</p>
</div><p>Finally, Rivian's shares trade at just 2.9 times sales -- a sizable discount to Lucid's 6.5 multiple. In 2025, Rivian has prepared itself for a promising 2026, with dramatically higher sales and improved margins a potential reality. Lucid's year so far has also been exciting. But it may be until 2027 that we receive any notable improvement in profitability, or actual traction in its ability to supply the robotaxi industry.</p>
<div class="lb-trans"><p>最后，Rivian 的股票交易价格仅为销售额的 2.9 倍，远低于 Lucid 的 6.5 倍。在 2025 年，Rivian 为 2026 年做好了准备，预计销售大幅增长，利润率改善将成为现实。Lucid 今年的表现也令人振奋，但可能要到 2027 年我们才能看到盈利能力的显著改善，或在其供应机器人出租车行业的能力上取得实际进展。</p>
</div>

Rivian 与 Lucid：哪只电动车股票在 2025 年表现更佳？