Lucid (LCID) may be in line for a new EV partnership. Chief executive Peter Rawlinson revealed that the company is talking to “a couple” of automakers about supplying its technology.
Coming off a third consecutive quarter of record deliveries, Lucid is looking to play a dominant role in the EV industry.
Lucid delivered more than 7,100 vehicles during the first nine months of 2024, more than the 6,001 total delivered last year. With the first electric SUV, the Gravity, hitting the market, Lucid expects to continue the momentum next year.
Meanwhile, the company is looking to share its advanced EV technology with traditional automakers. In return, Lucid can benefit from an established supply chain and manufacturing network.
Lucid has already found one partner. Last summer, the company agreed to a tech collaboration with Aston Martin. Lucid will provide its EV powertrain technology to help the leading British car manufacturer develop a new EV platform for future electric sports cars.
Are more Lucid EV partnerships on the way?
As the first of its kind, Lucid said the Aston Martin deal will expand its reach while “paving the way for mainstream applications” in the future.
According to Rawlinson, that could be sooner than expected. In interview no BloombergRawlinson said Lucid is in active discussions with “a couple” of automakers for similar EV collaborations.
Lucid's CEO said during an interview, “It would be great if we could provide technology to a traditional car company to help them on their way to sustainability.” He added, “Perhaps we can improve the economy at its level with its parts of the barrel and other aspects of the business.”
Rawlinson has hinted at more collaboration in the past, saying Lucid is seeing more interest in his technology.
According to Rawlinson, the Gravity SUV is a “landmark product” with an EPA-rated range of up to 450 miles. However, this is just the beginning.
Lucid continues to advance its new EV technology, which helps reduce costs while providing increased efficiency. Rawlinson said Lucid's technology is years ahead of the competition.
After the Gravity, Lucid plans to launch a series of mid-size EVs aimed “right at the heart of the Tesla Model 3, Model Y space,” according to Rawlinson. The first, an electric SUV, is expected to go into production in late 2026 with a starting price of around $50,000. We got our first glimpse of the new model after Lucid teased its midsize SUV in September.
Electrek's Take
Which legacy automaker will tap into Lucid's EV technology next? After Jaguar teased its new luxury EV, the relationship would make sense.
Jaguar is reshaping the brand with plans to launch a range of high-end electric models priced above $200,000.
Lucid's technology is among the best on the market. The 2025 Air Pure is said to be the “World's Most Efficient Car,” with a record 146 MPGe. Powered by an 84 kWh battery, it offers 420 miles of EPA-estimated range at just 5 miles per kWh of power.
Rivian ( RIVN ) has partnered with Volkswagen in a deal worth up to $5.8 billion to build a new EV platform using its advanced software. According to Scaringe, the $5 billion partnership is a “sound financial opportunity” as Rivian prepares to launch the smaller, more affordable R2.
Which automaker is next in line for an EV partnership? Ford, GM, Hyundai, Toyota? Let us know what you think in the comments below.
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