Lucid Motors, a leading electric vehicle technology company, is actively seeking partnerships with established automakers to bolster its production capacity and achieve its ambitious sales target of 1 million vehicles annually.
Lucid CEO confirms the company is looking for additional established automakers to partner with. It's already in talks with two unnamed automakers after signing a deal to provide Aston Martin with its EV tech. Lucid wants to sell 1 million vehicles annually and it will need an OEM's help to help it ramp up production. Although Lucid Motors is a startup with much less car-making experience than traditional OEMs, it has quickly become an electric vehicle technology leader.
It’s willing to share its EV tech with others and it’s already helping Aston Martin create its own bespoke EV platform. However, it also wants to find more automakers to partner with. In a recent interview with Bloomberg, Lucid CEO Peter Rawlinson said the company was currently in talks with “a couple” of automakers, but he didn’t name names—one of them is probably Genesis. He said, “It would be lovely if we could supply technology to a traditional car company to help them on their way to sustainability, and perhaps we can leverage economies of scale with their parts bin and other aspects of the business.” In other words, Lucid would be interested in supplying its EV tech and expect to gain know-how from its potential partners. This doesn’t apply to its deal with Aston Martin, which is one-sided for now, but Lucid expects to earn more than just money from its future partnerships. Aston Martin will launch its first EV, which will have Lucid tech and know-how, in 2026, and it says it has several EVs in the pipeline. Lucid isn’t the only EV startup looking for established OEM partners. Rivian set up a multi-billion dollar joint venture deal with Volkswagen to develop electric vehicles. VW has pledged to invest close to $6 billion, and the partnership’s first vehicles are expected to debut in 202
LUCID MOTORS ELECTRIC VEHICLES AUTOMOBILE PARTNERSHIPS SUSTAINABILITY TECHNOLOGY
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