Lucid in Talks to Partner With Carmaker, Plans IPO in Few Years
February 4, 2019  Craig Trudell, Gabrielle Coppola, Emily Chang

A Lucid Motors  vehicle sits on display during the 2017 New York
International Auto Show. Photographer: Andrew Harrer/Bloomberg

video  flash

Lucid Motors Inc. is in talks with automakers about potentially sharing its
electric-vehicle technology and plans to go public in a few years, a senior
executive said.

The company isn’t mulling a potential sale, Chief Technology Officer Peter
Rawlinson said in an interview. Lucid considered one earlier and even held
early-stage takeover talks with Ford Motor Co., Bloomberg News reported in
July 2017, citing people familiar with the discussions.

“We’re actually currently in dialogue with companies that are interested in
our technology,” Rawlinson said at the Bloomberg NEF Summit in San
Francisco. “If there is an opportunity for partnership with some way that
doesn’t dilute our brand and is beneficial, then that would be ultimately a
board decision.”
Lucid Takes On Tesla With New Electric Vehicle

[image]  Peter Rawlinson, Lucid’s CTO, discusses the company’s plans for its
first electric vehicle.  Source: Bloomberg

Lucid landed a $1 billion investment by Saudi Arabia’s sovereign wealth fund
in September, clinching long-sought funding that’s crucial to getting its
first model, the Air sedan, into production. The company plans to start
construction of a plant in Arizona this spring and begin building the car in
late 2020.

Rawlinson, who was chief engineer of the Model S when he worked for Tesla
Inc., said on Bloomberg Television that Lucid has developed world-class
technology that traditional automakers lack and could benefit from. He
declined to identify the carmakers Lucid is having talks with and said the
company won’t do an initial public offering until after the Air is in

“We want to grow this business. Some sort of short-term move of a sale is
just not on the agenda for me or any of the team,” he said. “We see huge,
long-term value for Lucid.”
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