Written by Cláudio Afonso | LinkedIn | X
Lucid Motors’ global head of communications, Nick Twork, clarified on social media that the company remains committed to expanding vehicle production, following CEO Peter Rawlinson’s recent comments about a major focus on technology licensing.
“While we are working diligently on partnerships, our plans to grow the number of vehicles we manufacture remain unchanged,” Twork wrote on X, seeking to reassure investors after Rawlinson said he would “love” for Lucid’s business to be “20% doing cars, 80% licensing.”
“I’d love it to be 20-80. 20% doing cars, 80% licensing,” Lucid’s chief executive stated, assuring that the company doesn’t aim to become “just a supplier.”
Lucid delivered 3,099 vehicles globally in the final quarter of 2024 reaching a new record and a 79% year over year growth.
Rawlinson’s remarks, made last week, sparked discussions among brand enthusiasts and shareholders about the company’s long-term strategy. “We need the cars as a shop window for our product,” he said. “Just as there’s an Intel inside your laptop, there’s a Lucid inside a Honda or a Toyota.”
The clarification comes less than two weeks before Lucid’s fourth-quarter earnings call, where investor focus is turning to the company’s technology licensing ambitions.
The most upvoted question on the Say Technologies platform, which allows investors to submit queries ahead of earnings calls, asks how and when Lucid expects revenue from its tech business and what categories would make up the projected 80% share.
“Peter mentioned how Lucid aims to be 80% tech company and 20% car company. When is revenue from tech plays expected?” the shareholder asked. “What categories/products do you see making up that 80% of revenue?”
As of Friday, the question ranks first, with nearly 500 votes representing 2.4 million shares. The second most-voted question asks Lucid’s team if it “sees a deal being made before the Atlas motor is ready?” and counts with 195 votes representing 2.2 million shares.
The company’s management is expected to address it during the fourth quarter earnings call on February 25.
Licensing deals
Over the last year, Peter Rawlinson confirmed multiple times that the company was in discussions with several carmakers regarding potential licensing deals.
The chief executive had distinguished the company’s tech as “not family car tech”. “It suits something like a Jaguar or Maserati,” he added in mid-2024.
Jaguar presented its EV prototype ‘Type 00’ in December, which generated a wave of comments much like its controversial rebranding a month earlier.
Remarks like “there will be no range anxiety” and the unveiling of similar specs between Lucid’s Air sedan and Jaguar’s concept model suggest that the battery’s technology would fit into Jaguar’s upcoming EV model.
In 2023, Lucid also signed a supply deal with Aston Martin, where the British brand uses Lucid’s motors, battery technology and ‘Wunderbox’ in its upcoming model, for $450 million.
However, Aston Martin has already delayed the launch of its first EV twice, citing weak customer demand.
The company’s CEO Adrian Hallmark told Autocar last week that the model is now expected to debut “before 2030”, as opposed to 2027, the initially planned date for deliveries to start. To face emissions targets, the brand will focus on the hybrid lineup.
Last year, and according to a report from the South Korean Sisa Journal, the U.S. start-up was allegedly preparing to supply electric motors to Hyundai. The local media outlet reported that Hyundai Motor’s CEO has visited Lucid’s headquarters to discuss a potential cooperation.
