Lucid Group Inc. (LCID, Financial), one of the automakers, is negotiating with a number of other automakers in order to increase its market share in the electric vehicle (EV) sector. In an interview, CEO Peter Rawlinson told Bloomberg TV that this is a component of sharing costs and leveraging intellectual property to collaborate with conventional automakers in order to gain strategic advantages.
There have also been discussions with a few manufacturers, Rawlinson said, but it may also help other automakers achieve their sustainability objectives in exchange for the advantages of economies of scale through common technology and components.
Lucid, a California-based electric vehicle manufacturer, has also begun manufacturing the Lucid Gravity SUV, its second model. Despite being one of the few pure-play EV startups in the United States, Lucid’s production numbers are significantly lower than those of industry leader Tesla Inc.
In addition to this year’s agreement to supply EV components to British automaker Aston Martin, Lucid has previously stated that it is open to partnerships. This followed Aston Martin’s announcement that, due to a lack of consumer demand, it will delay the release of its first electric vehicle until 2026.
Given that competitors like Rivian Automotive Inc. have partnered with Volkswagen AG on a project valued at up to $5.8 billion to jointly develop EV technology, this seems to be a recognition to larger industry trends.
In order to keep ahead of the competition, manufacturers are balancing technology and costs in the EV market, which is reflected in Lucid’s strategy discussions.
