Lucid (LCID) CEO hints at EV partnerships with ‘a couple’ of auto companies
Lucid (LCID) may be in line for several new EV partnerships. CEO Peter Rawlinson revealed that the company is actively talking with “a couple” of automakers about supplying its tech.
Coming off its third straight quarter of record deliveries, Lucid wants to play a more prominent role in the EV industry.
Lucid delivered more than 7,100 vehicles through the first nine months of 2024, topping the 6,001 deliveries total last year. With its first electric SUV, the Gravity, hitting the market, Lucid expects to carry the momentum into next year.
Meanwhile, the company is looking to share its advanced EV tech with traditional automakers. In return, Lucid could benefit from an established supply chain and manufacturing network.
Lucid has already secured one partner. Last summer, the company agreed to a strategy tech partnership with Aston Martin. Lucid will supply its proprietary EV powertrain tech to help the luxury British automaker develop a new EV platform for upcoming electric sports cars.
Are more Lucid EV partnerships on the way?
As the first of its kind, Lucid said the Aston Martin deal would expand its reach while “paving the way for more mainstream applications” in the future.
According to Rawlinson, that could be sooner than expected. In an interview with Bloomberg, Rawlinson said Lucid is in active talks with “a couple” of automakers over similar EV partnerships.
Lucid’s CEO said during the interview, “It would be lovely if we could supply technology to a traditional car company to help them on their way to sustainability.” He added, “Perhaps we can leverage economies of scale with their parts bin and other aspects of the business.”
Rawlinson has hinted at additional collaborations in the past, saying Lucid is seeing more interest in its technology.
According to Rawlinson, the Gravity SUV is a “landmark product ” with a whopping EPA-estimated range of up to 450 miles. However, this is just the beginning.
Lucid continues to advance its new EV technology, which is helping drive costs down while providing more efficiency. Rawlinson has said Lucid’s technology is years ahead of the competition.
After the Gravity, Lucid plans to launch a series of mid-size EVs aimed “right in the heart of Tesla Model 3, Model Y territory,” according to Rawlinson. The first, an electric SUV, is expected to enter production in late 2026 with a starting price of around $50,000. We got our first look at the new model after Lucid teased its mid-size SUV in September.
Electrek’s Take
Which legacy automaker will tap into Lucid’s EV tech next? After teasing Jaguar over its radical new ultra-luxury EV, a partnership could make sense.
Jaguar is overhauling the brand with plans to launch a lineup of electric ultra-luxury models priced upwards of $200,000.
Lucid’s technology is among the best on the market. The 2025 Air Pure is claimed to be “The World’s Most Efficient Car,” with a record 146 MPGe. Powered by an 84 kWh battery pack, it offers 420 miles of EPA-estimated range for just 5 miles per kWh of energy.
Rivian (RIVN) partnered with Volkswagen in a deal worth up to $5.8 billion to create a new EV platform using its advanced software. According to Scaringe,, the $5 billion partnership is “a meaningful financialopportunity ” as Rivian preparesps to launch its smaller, more affordable R2.
Which legacy automaker is next in line for an EV partnership? Ford, GM, Hyundai, Toyota? Let us know what you think in the comments below.
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Chinese carmaker XPeng is getting perilously close to bringing its AeroHT consumer eVTOL concept to market, thanks to a $250 million Series B round that’s set to accelerate the company’s modular “flying car” production plans.
XPeng subsidiary AeroHT had its first successful proof of concept test flight ahead of the brand’s annual 1024 back in 2023, where the company unveiled a pair of flying car designs. The X3 is an actual flying “car” that can drive, park, and take off on its own, and a second, modular eVTOL that folds up into the back of an electric van called the Land Aircraft Carrier.
That vehicle pair, shown at CES in January, was set to begin production this year, with the eVTOL component set to begin production in 2026 – and that’s looking a lot more likely thanks to the new infusion of capital!
AeroHT at CES 2025
Xpeng Aeroht raised $150 million in Series B1 funding last August, before launching its Series B2 funding round. The most recent announcement that the company has secured an additional $100 million in its Series B2 funding round brings the total amount raised to more than $750 million, with a $1B pre-revenue valuation.
CNEVPost reports that company aims to establish itself as a commercial pioneer in urban air mobility ahead of a potential IPO – and may get there sooner than later, thanks to several hundred pre-orders at the $280,000 projected price.
Electrek’s Take
Scooter Doll said it best, writing, “this footage (of the AeroHT test flight) is as scary and concerning as it is exciting and awe-inspiring.” Which is to say that these things are real, they seem like they’re getting built, and they seem like they’ll sell well enough to convince at least one or two remaining boomers that the flying car they’ve been promised their whole lives is – finally! – coming to market.
Here’s hoping.
SOURCE: Xpeng, via CNEVPost; gallery photos by the author.
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Flooring manufacturer Beauflor USA just turned on the biggest rooftop solar system by capacity in metro Atlanta — and it’s now powering part of its Georgia factory.
The new 1,040 kW system in Cartersville officially beats metro Atlanta’s previous rooftop solar record of 1,034 kW. The new array produces enough energy to power more than 100 homes. The system is expected to cover about 10% of Beauflor’s electricity needs and cut its carbon emissions by about 920 metric tons annually.
“This solar installation represents our commitment to sustainable manufacturing practices while making sound business decisions,” said Emile Coopman, continuous improvement manager at Beauflor. He added that the system is designed with room to grow: “This is the first step toward more renewable energy.”
The company partnered with Cherry Street Energy to install the nearly 2,000-panel system, which was completed in less than four months. Cherry Street invested $1.8 million into the project and is covering all construction and maintenance costs through a 30-year energy procurement agreement. Beauflor will buy solar power directly from Cherry Street, allowing it to avoid upfront capital costs while still lowering its energy bills.
“As Georgia’s manufacturers ramp up production amid rising costs for grid energy, sophisticated operators seek ways to quickly and sustainably address their energy needs,” said Cherry Street CEO Michael Chanin. “On-site solar with no capital expense delivers just that: reliable, affordable electricity.”
Chanin added that the system’s power output is especially impressive: “The previous record-holder for metro Atlanta’s largest rooftop solar required over 4,000 panels. We’re using less than 2,000 to reliably generate even more power.”
Read more: This is New Jersey’s largest high-rise residential rooftop solar array
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Jack Dorsey, co-founder and chief executive officer of Twitter Inc. and Square Inc., listens during the Bitcoin 2021 conference in Miami, Florida, on Friday, June 4, 2021.
Eva Marie Uzcategui | Bloomberg | Getty Images
Block shares jumped more than 10% in extended trading on Friday, as the fintech company gets set to join the S&P 500, replacing Hess.
It’s the second change to the benchmark this week, after S&P Global announced on Monday that ad-tech firm The Trade Desk would be added to the S&P 500. Trade Desk is taking the place of software maker Ansys, which was acquired by Synopsys in a deal that closed Thursday.
Hess’ departure comes just after Chevron completed its $54 billion purchase of the oil producer, prevailing against Exxon Mobil in a legal dispute over offshore oil assets in the South American nation of Guyana.
Block will officially join the S&P 500 before the opening of trading on July 23, according to a statement from S&P. Stocks often rally when they’re added to a major index, as fund managers need to rebalance their portfolios to reflect the changes.
Most alterations to the S&P 500 take place during the index’s quarterly rebalancing. However, in the case of the closing of an acquisition, a company can be removed from the index and replaced off schedule. Last week monitoring software company Datadog took Juniper Networks’ place in the S&P 500 as part of the index’s quarterly change.
Block’s addition brings further tech heft to an index that’s been steadily moving in that direction in recent years, reflecting the market cap gains of companies across the sector. Block, which gained popularity as Square due to the rapid growth of the company’s payment terminals, has expanded into crypto, lending and other financial services.
Founded by Jack Dorsey in 2009, Square changed its name to Block in 2021 to emphasize its focus on blockchain technologies.
Block shares are down 14% this year, underperforming the broader U.S. market. The Nasdaq is up more than 8%, while the S&P 500 has gained 7%. Still, with a market cap of about $45 billion, Block is valued well above the median company in the index.
In May, Block reported first-quarter results that missed Wall Street expectations on Thursday and issued a disappointing outlook, leading to a plunge in the stock price. Block’s forecast for the second quarter and full year reflected challenging economic conditions that followed sweeping tariff announcements by President Donald Trump.
“We recognize we are operating in a more dynamic macro environment, so we have reflected a more cautious stance on the macro outlook into our guidance for the rest of the year,” the company wrote in its quarterly report.
The company is scheduled to report second-quarter results after the close of regular trading on Aug. 7.
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