Written by Cláudio Afonso | LinkedIn | X
At the Evercore ISI 3rd Annual Global Summit, Lucid Motors CEO and CTO Peter Rawlinson revealed that the company is in discussions with several companies regarding potential licensing deals for its technology.
The company aims to scale its operations significantly, with the upcoming Gravity SUV and a mid-sized platform set for production by late 2026.
Rawlinson highlighted the company’s strategic focus on not just producing high-end vehicles, but also influencing the mass market to accelerate the transition to sustainable mobility.
“If you look at the technology we build today, it’s still high performance. It’s not family car tech. It suits something like a Jaguar or Maserati or a Lexus or something like that or maybe a Lincoln. It’s sort of high-end performance cars, executive cars. But where it gets really exciting is the tech that we’re developing for our midsized platform. We’re embodying all our expertise, all our learning, we talked about learning, real focus on cost down,” Rawlinson said.
During his presentation, Rawlinson emphasized Lucid’s technological advantages, particularly in powertrain efficiency. Lucid’s electric vehicles achieve a superior miles-per-kilowatt-hour rate compared to competitors, translating to lower battery costs and increased overall efficiency.
We’re looking at licensing our technology to other automakers who need it, Rawlinson stated. Maybe some of those don’t recognize that they need it yet or believe that this is easier than they can do it in-house. It’s not easy. This is the result of six or seven years of blood, sweat, and tears.”
Lucid’s potential licensing deals could mirror its supply agreement with Aston Martin announced last year, which was worth at least $450 million.
Rawlinson noted that the current discussions are aligned with the company’s vision to make its advanced technology accessible to a broader market, thereby enhancing the adoption and affordability of electric vehicles.
“I think at the moment in time last year, Aston was great. Let’s look to the future. We are in getting discussions with several companies as we speak, but nothing to disclose at the moment,” the chief executive stated.
As recently reported by local media in South Korea, Lucid Motors is reportedly gearing up to announce a partnership providing Hyundai’s premium brand, Genesis, with electric motors.
The collaboration aims to accelerate the development of a new all-electric sports car slated for a 2025 launch by Genesis. Additionally, Hyundai plans to release the GV90, an electric sport utility vehicle from Genesis by late 2025.
Reports from local media outlet Sisa Journal claim that Hyundai Motor CEO Jang Jae-hoon visited Lucid‘s headquarters in California earlier this year to explore potential cooperation between the two automakers.
Recent sightings of both Lucid Air and Gravity models in South Korea have fueled speculation about Hyundai’s potential partnership with Lucid. It’s speculated that Hyundai may have acknowledged Lucid’s technological prowess and proposed collaboration on technology.
An industry insider revealed to the local outlet, “Jang sent a photo of himself with Hyundai Chief Creative Officer Luke Donkerwolke and Lucid officials and reported the details of the trip to Hyundai Motor Group Chairman Chung Eui-sun.” The meeting purportedly centered on discussions regarding collaboration on electric motors.
The two companies are said to be in the final stages of negotiating the agreement, ironing out details such as the pricing of the electric motors and the specific models they will be integrated into.
In the first quarter of the year, the EV maker produced 1,728 units of its Air luxury sedan with deliveries reaching 1,967 vehicles, an increase of 39.9 percent compared to the same period of last year.
During the first quarter, the electric vehicle manufacturer Lucid delivered 1,967 vehicles, a nearly 40 percent growth compared to the first three months of last year. In the conference call that followed the earnings release, CEO Peter Rawlinson disclosed that over 500 of them were delivered to Saudi Arabia.
Lucid has reiterated its annual production guidance of 9,000 vehicles for 2024 despite warning investors that its cash reserves, cash equivalents, and investments are projected to last until the second quarter of next year.
The CEO Peter Rawlinson announced that the company’s midsize model will enter production in late 2026, with a price expected to be around $48,000.
Written by Cláudio Afonso | LinkedIn | X
