Lucid eyes partnerships on electric tech powering conventional cars

Logo of Lucid Group

Electric vehicle manufacturer Lucid Group is in talks with multiple automakers about potential partnerships aimed at broadening its reach by providing the electric technology required to power conventional vehicles.

Lucid, listed on Nasdaq and majority owned by the Public Investment Fund (PIF), is open to opportunities requiring sharing of costs and intellectual property with a traditional car company, CEO Peter Rawlinson told Bloomberg TV, noting that there are ongoing conversations with “a couple” of auto manufacturers.

“It would be great if we could provide the technology to a traditional car company to help it go electric, and maybe we could leverage those companies’ economies of scale to increase production,” he continued.

Lucid is one of the few electric car manufacturers in the US, with a small sales volume. It currently sells one model, Lucid Air, and has just started production of the Lucid Gravity SUV.

It has already partnered with Aston Martin to supply the British automaker with electric car components, although the latter earlier this year postponed the launch of its first electric car until 2026, citing lack of customer interest.