Lucid (LCID, Financial) CEO Peter Rawlinson revealed that the electric vehicle maker is in discussions with several automakers for potential collaborations. Rawlinson emphasized the advantage of providing technology to traditional car companies to aid their sustainable development, potentially leveraging their supply chain efficiencies.
Lucid, known for its Lucid Air model and the newly launched Lucid Gravity SUV, has a contract to supply EV components to Aston Martin, though its announcement has been delayed until 2026 due to limited customer interest. This move aligns with trends in the EV market, where competitors like Tesla (TSLA) and Rivian Automotive (RIVN) are forming pivotal partnerships.
Lucid has also established a significant partnership with Saudi Arabia, opening its first Saudi manufacturing plant in September 2023, with plans to ramp up production. Lucid's stock rose nearly 3% in pre-market trading.
