Lucid CEO says EV maker in talks with auto brands on partnership

AUSTIN: The head of Lucid Group Inc. said the electric vehicle company is in talks with multiple automakers about potential partnerships as it tries to broaden its reach in the market for plug-in cars.

Lucid would welcome an opportunity to share costs and intellectual property with a traditional car company, chief executive officer Peter Rawlinson told Bloomberg TV, noting that there are ongoing conversations with "a couple” of manufacturers.

"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,” Rawlinson said in an interview.

Lucid is one of few pure-play EV makers in the US, but produces a fraction of the vehicles that market leader Tesla Inc. does annually.

The company currently sells one model, the Lucid Air, and just started production of its Lucid Gravity SUV.

Rawlinson has said previously the company is open to partnerships and said in August that Lucid has seen increased interest in its technology.

The company already has a contract to supply Aston Martin with EV components.

The British automaker earlier this year delayed the launch of its first EV to 2026, citing a lack of customer interest.

Rivian Automotive Inc., an EV rival to Lucid, recently entered into its own partnership with Volkswagen AG.

The up-to-US$5.8 billion joint venture allows the companies to share intellectual property and co-develop vehicles.