Lucid(LCID.US) CEO: Seeks Technology Partnerships with Auto Manufacturers to Develop Electric Vehicles

Lucid(LCID.US) CEO Peter Rawlinson said in an interview that the electric vehicle maker is in talks with several automakers about a potential collaboration.Rawlinson said: "If we can give a traditional car company technology to help them go down the sustainable path, that would be great. Maybe we can leverage their parts warehouses and other business scale."Earlier this year, Rawlinson said interest in Lucid's technology was growing.Lucid currently sells the Lucid Air and has just started production of the Lucid Gravity SUV. The company has a contract to supply electric vehicle parts to Aston Martin, but the announcement has been delayed to 2026 due to lack of customer interest.The development is not surprising, as rival electric vehicle maker Tesla (TSLA.US) is soaring, and Rivian Automotive (RIVN.US) has key partnerships with Amazon (AMZN.US) and Volkswagen (VWAGY.US).Globally, Lucid has a significant partnership with Saudi Arabia. In September 2023, Lucid opened its first car manufacturing plant in Saudi Arabia, AMP-2, in King Abdullah Economic City. The plant initially has a capacity of 5,000 electric vehicles per year, with plans to expand to 155,000 per year. Saudi Arabia has committed to buying up to 100,000 Lucid vehicles over a decade.As of the time of writing, Lucid's stock rose nearly 3% before the market opened on Thursday.