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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Environment
U.S. crude oil falls below $60 a barrel to lowest since 2021 on tariff-fueled recession fears
A view shows disused oil pump jacks at the Airankol oil field operated by Caspiy Neft in the Atyrau Region, Kazakhstan April 2, 2025.
Pavel Mikheyev | Reuters
U.S. oil prices dropped below $60 a barrel on Sunday on fears President Donald Trump’s global tariffs would push the U.S., and maybe the world, into a recession.
Futures tied to U.S. West Texas intermediate crude fell more than 3% to $59.74 on Sunday night. The move comes after back-to-back 6% declines last week. WTI is now at the lowest since April 2021.
Worries are mounting that tariffs could lead to higher prices for businesses, which could lead to a slowdown in economic activity that would ultimately hurt demand for oil.
Oil futures, 5 years
The tariffs, which are set to take effect this week, “would likely push the U.S. and possibly global economy into recession this year,” according to JPMorgan. The firm on Thursday raised its odds of a recession this year to 60% following the tariff rollout, up from 40%.
Fueled by incentives from the Illinois EPA and the state’s largest utility company, new EV registrations nearly quadrupled the 12% first-quarter increase in EV registrations nationally – and there are no signs the state is slowing down.
Despite the dramatic slowdown of Tesla’s US deliveries, sales of electric vehicles overall have perked up in recent months, with Illinois’ EV adoption rate well above the Q1 uptick nationally. Crain’s Chicago Business reports that the number of new EVs registered across the state totaled 9,821 January through March, compared with “just” 6,535 EVs registered in the state during the same period in 2024.
Those numbers represent more than 50% growth in EV registrations – far beyond the expected 12% first-quarter increase nationally being projected by Cox Automotive. (!)
What’s going on in Illinois?
While President Trump and Elmo were running for re-election, they campaigned on the threat promise of canceling the $7,500 federal tax credit for EVs. Along with California Governor Gavin Newsom, Illinois’ Governor JB Pritzker made countermoves – launching a $4,000 rebate for new electric cars and up to $1,500 for the purchase of a new electric motorcycle.
At the same time, the state’s largest utility, ComEd, launched a $90 million EV incentive program featuring a new Point of Purchase initiative to deliver instant discounts to qualifying business and public sector customers who make the switch to electric vehicles. That program has driven a surge in Class 3-6 medium duty commercial EVs, which are eligible fro $20-30,000 in utility rebates on top of federal tax credits and other incentives (Class 1-2 EVs are eligible for up to $7,500).
We covered the launch of those incentives when the program was announced at Chicago Drives Electric last year, but the message here is simple: incentives work.
SOURCES: Chicago Business, Ray Cunningham; featured image by the author.
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The electric construction equipment experts at XCMG just released a new, 25 ton electric crawler excavator ahead of bauma 2025 – and they have their eye on the global urban construction, mine operations, and logistical material handling markets.
Powered by a high-capacity 400 kWh lithium iron phosphate battery capable of delivering up to 8 hours of continuous operation, the XE215EV electric excavator promises uninterrupted operation at a lower cost of ownership and with even less downtime than its diesel counterparts.
XCMG is delivering on part of that reduced downtime promise with the lower maintenance and easier repair needs of electric equipment, and delivering on the rest of it with lickety-quick DC fast charging that can recharge the machine’s massive battery in 1.5-2 hours … but that’s not the slick bit. The XCMG XE125EV can be powered up without leaving the job site thanks to its BYD battery swap technology.
We first covered XCMG and its battery swap technology back in January, and covered similar battery-swap tech being developed by MOOG Construction offshoot ZQUIP, as well – but while XCMG’s battery tech has been in production for several years, it’s still not widely known about in the West (even within the industry).
XCMG showed off its latest electric equipment at the December 2024 bauma China, including an updated version of its of its 85-ton autonomous electric mining truck that features a fully cab-less design – meaning there isn’t even a place for an operator to sit, let alone operate. And that’s too bad, because what operator wouldn’t want to experience an electric truck putting down 1070 hp more than 16,000 lb-ft of torque!?
Easy in, easy out
The best part? All of the company’s heavy equipment assets – from excavators to terminal tractors to dump trucks and wheel loaders – all use the same 400 kWh BYD battery packs, Milwaukee tool style. That means an equipment fleet can utilize x number of vehicles with a fraction of the total battery capacity and material needs of other asset brands. That’s not just a smart use of limited materials, it’s a smarter use of energy.
You can check out all the XE215EV’s specs at this tear sheet, and get an in-person look at the Chinese company’s latest electric excavator this week in Munich, Germany.
SOURCE | IMAGES: XCMG.
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