Lucid Motors (NASDAQ:LCID) and Tesla (NASDAQ:TSLA) are getting fresh bullish bets from Benchmark, sending both stocks higher in early trading Wednesday. Analyst Mickey Legg slapped a $5.00 price target on Lucidan 86% upsideand a $475.00 target on Tesla, citing major tailwinds ahead. Tesla's roadmap? A lower-cost EV launching in 2025, unsupervised full self-driving rolling out as a paid service in June, and the Optimus robot production ramping through 2026. Meanwhile, Lucid is gaining traction with its award-winning EVs, deep-pocketed Saudi backing, and a balance sheet that can fuel long-term expansion.

Institutions aren't sitting on the sidelines. BlackRock just upped its stake in Lucid by 12.7%, buying 5.4 million shares in Q4, while Saudi Arabia's Public Investment Fund holds a commanding 60% stake. Lucid's 665 deliveries in January mark a 51% year-over-year jump, but the company still needs to scale production on its Gravity SUV. Despite a sluggish 2024 for EVs, Benchmark sees a strong rebound in 2025, driven by cheaper vehicles and better charging infrastructurekey catalysts that could lift both Tesla and Lucid.

Tesla and Lucid climbed 4.9% and 6.3% at 1.23pm today, though both stocks are still down for 2025. Tesla remains the dominant force in EVs, but Lucid's momentum is building. With the EV market heating up and major product launches ahead, investors are watching closelybecause the next big move could be around the corner.