Lucid Group (LCID -0.33%) is a great stock for growth investors searching for a bargain. Since going public in 2021, sales have grown by 16,300%. The company's share price, however, has struggled due to the market overpricing its stock during its IPO. Right now, sales are still growing in the heavy double digits while the valuation multiple hovers around all-time lows.

If you're looking for maximum growth potential, pay close attention to these details.

Lucid's growth journey is just beginning

While the hype around electric car stocks has gyrated over the decades, the underlying statistics are hard to deny.

From 2014 to 2017, electric car sales in the U.S. represented less than 1% of total vehicles sales. In 2018, that figure jumped to 2%. In 2021, it surpassed 4%. And just last year, electric cars represented 8% of total U.S. car sales -- an all-time record. Put simply, the trend line is undeniably headed upward.

Few analysts expect this trend to reverse anytime soon. In fact, most believe EV sales will continue to climb over the next decade. Already, 18% of car sales globally are electric, and the U.S. should continue to trend toward that mark. The most aggressive estimates call for up to 50% of U.S. car sales to be electric by 2030.

Even if EV demand doesn't mount to those levels, companies like Lucid are riding a rising tide. If they can execute from a companywide perspective, industry tailwinds should support plenty of top-line growth.

But Lucid isn't just about long-term growth potential. Wall Street consensus estimates believe the company will grow revenues by 118% in 2025, fueled by the introduction of its new Gravity SUV platform. And with production slated to begin on three new mass-market vehicles beginning in late 2026, there's a good chance that these hefty growth rates are sustained for years to come.

As a young company, Lucid will still face funding pressures. That's particularly true, given the company continues to lose money on every car it sells. But with a new SUV ramping its sales base this year and several more affordable models on the horizon, there's a defined trajectory for growth -- a reality that should give Lucid the ability to raise additional capital through 2026. But with just $1.9 billion in cash remaining on the balance sheet, Lucid's financial situation is a headwind worth monitoring.

RIVN Revenue (TTM) data by YCharts

One reason to buy this EV stock before Feb. 25

Two years ago, Lucid shares traded above 30 times sales, making it one of the most expensive EV stocks in terms of valuation. Today, that valuation has been slashed by more than 70%. To be sure, shares are still fairly pricey at 9.6 times sales. But that premium is well worth the cost if the company executes on its growth plans.

Lucid reports earnings on Feb. 25. If you're looking to get into a high growth stock at a historical discount, now might be your last chance due to one major factor.

RIVN Revenue (TTM) data by YCharts

Lucid has its growth trajectory laid out in advance. Focus on the launch of its Gravity SUV platform this year -- a sales ramp that could see companywide revenues more than double in 2025. With that accomplished, it can then focus on launching its mass-market vehicles in 2026. When Tesla introduced its mass-market vehicles, sales doubled, and then tripled. Lucid's hoping the same will be true.

What Lucid needs, then, is not a plan for growth, but sustained financing to execute on this vision. Cutting its gross losses -- roughly how much it loses on each car it sells -- will send a strong signal to the market that its financial sustainability has legs. Gross margins have improved from -280% to -106% over the last five quarters. If this trend continues next month, confidence in the stock could hit an inflection point, giving the market newfound confidence that Lucid's growth dreams will be realized, sending its historically low valuation higher.