Rivian (RIVN) vs. Lucid (LCID): Which EV Stock Is a Better Buy after the Uber Deal?

The race for the electric vehicle (EV) market is heating up in 2026. Rivian RIVN +3.08% ▲ and Lucid Group LCID +4.18% ▲ are both at key turning points as they scale their businesses. A major recent catalyst came on March 19, when Rivian secured a $1.25 billion investment and partnership with Uber UBER +0.18% ▲ , strengthening its push into autonomous fleets.

End of Quarter Sale - 50% Off TipRanks

• Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions

• Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks

According to TipRanks’ Stock Comparison Tool, both stocks carry a Hold rating, but the underlying metrics tell a different story. Rivian offers about 13.6% upside with a stronger Smart Score of 8 and has gained nearly 20% over the past year. Lucid, on the other hand, shows higher upside of 34.3% but has a much weaker Smart Score of 2 and is down about 60% over the same period, highlighting the gap in performance and risk.

Is Rivian Stock a Buy Now?

Rivian stock has fallen about 24% year-to-date, though it is still up roughly 20% in 2025. The company recently reported Q1 2026 production of 10,236 vehicles and deliveries of 10,365, beating analyst estimates of roughly 9,600. This operational beat is particularly significant as it comes the same day Tesla TSLA -5.42% ▼ reported a delivery miss, proving that Rivian’s demand remains resilient.

Meanwhile, the recent Uber partnership could be a game-changer for Rivian’s long-term scale. The deal gives Rivian a clear path to scale. Uber, or its partners, plans to buy 10,000 autonomous R2 robotaxis, with the option to expand to 40,000 units by 2030. Initial rollout is expected in cities like San Francisco and Miami starting in 2028.

Following the deal, Morgan Stanley’s five-star-rated analyst Andrew Percoco called it a positive step for Rivian’s autonomy platform. He also described the deal as providing Rivian with an incremental source of capital as the company works toward becoming profitable. Meanwhile, Stifel’s five-star-rated analyst Stephen Gengaro also said the tie-up strengthens Rivian’s autonomous capabilities and supports the expansion of its R2 platform. He also noted that Rivian will earn software licensing fees from Uber’s use of its Level 4 system.

Overall, analysts have a Hold consensus rating on RIVN stock based on nine Buys, eight Holds, and five Sells assigned in the past three months. Further, the average RIVN price target of $17.50 per share implies 13.64% upside potential.

Is Lucid Stock a Buy or a Sell?

Lucid stock has fallen about 10% year-to-date and roughly 60% in 2025. While Rivian is pushing into large-scale fleets, Lucid is doubling down on the premium segment and continues to gain recognition for its engineering. Just this week, on April 1, 2026, the Lucid Gravity was named the 2026 World Luxury Car of the Year.

Lucid is also making strategic moves to expand. It has secured a $300 million investment from Uber and is developing its midsize platform, including the upcoming Earth and Cosmos models, aimed at reaching a broader market.

However, Lucid’s path is more capital-intensive. Despite strong technology, including its Atlas drive units, which are next-generation electric motor systems, the company is still working toward profitability. These systems are designed to improve efficiency and lower costs. Lucid also remains heavily reliant on funding from Saudi Arabia’s Public Investment Fund. As a result, its growth story is less certain than Rivian’s more scalable approach.

Turning to Wall Street, analysts have a Hold consensus rating on LCID stock based on one Buy, six Holds, and two Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average LCID price target of $13.38 per share implies 34.34% upside potential.

Conclusion

Rivian looks like the better buy right now, while Lucid remains a higher-risk bet with potential upside. The Uber deal gives it a clear path to scale, and the data also supports the case. The stock has a stronger Smart Score of 8 and has held up better over the past year, pointing to more stable execution.

Meanwhile, Lucid offers higher upside, but the risks are harder to ignore. Its weaker Smart Score of 2 and sharp one-year decline highlight ongoing challenges, even as it works toward profitability.

Disclaimer & DisclosureReport an Issue