Lucid’s $25,000 Car Plans Would Accelerate With Licensing Tech

It could happen in four years instead of nine, but there’s “nothing tangible” so far.

By: Gustavo Henrique Ruffo

Apr 5, 2021 at 8:38am ET

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Lucid has plans to produce an affordable EV. However, Peter Rawlinson told The Guardian that it could take nine years. If a major automaker licensed Lucid’s tech, an affordable EV based on it could reach the market in four years. Disappointingly, all attempts so far to get there resulted in “nothing tangible,” according to the Lucid CEO.

Rawlinson told The Guardian “a few car companies” approached Lucid to talk about licensing. Not by chance: the Lucid Air presents one of the most compact motor designs around, as well as a 900V architecture. Saving weight and ensuring fast charging would be competitive advantages well worth licensing.

The reasons why that has not happened yet are not clear. Yet, Rawlinson says there is “mouthwatering potential” in such partnerships. Making more money with them is not the only goal Rawlinson has. The executive also believes the world needs an affordable $25,000 electric car produced by the millions as soon as possible.

From the Lucid CEO's point of view, his company will not be able to “get there for about eight, nine years, and it’s too late.” This time frame is confirmed by the image above, in which Lucid promised to have a Tesla Model 3 competitor by 2030.

However, it is worth remembering that the Model 3 currently starts at $37,990. If the Lucid vehicle aims for a $25,000 price tag, it will actually compete with Tesla’s future offering in that price range, not with the Model 3.

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With a partnership, Lucid could scale up the production of its components. While another company would start selling this affordable electric car, it would probably help Lucid speed up the process to have its affordable EV available.

Considering that Volkswagen, GM, BMW, Stellantis, and Ford have already committed to producing their own EVs, a partnership would require an automaker that is still out of that train but does not want to go off the rails. Licensing Lucid’s tech or even making a joint-venture with it would be a welcome solution for both companies.