Peter Rawlinson, the CEO and CTO of Lucid Motors, envisions his electrical car startup as greater than only a automobile producer. He perceives automobiles as merely a fraction of Lucid’s future endeavors. In an interview with InsideEVs on the BloombergNEF Summit in San Francisco, Rawlinson expressed his ambition to shift the corporate’s focus, saying, “I’d adore it to be 20-80. Twenty % doing vehicles, 80% licensing.” He likened Lucid’s potential impression within the EV sector to Intel’s affect in private computing, aiming for his know-how to be embedded in automobiles from different producers, similar to Honda or Toyota.
Lucid’s technique attracts parallels to Intel, which grew to become a key provider to main electronics companies like IBM and Apple. Rawlinson believes that by offering EV powertrains to varied automobile producers, Lucid can replicate Intel’s success within the automotive business.
Whereas he didn’t define a particular timeline for reaching a income mannequin of 80% from licensing, Rawlinson emphasised the significance of promoting vehicles as a technique to showcase the corporate’s know-how. He famous, “Folks assume, ‘Oh, why did not you simply be a provider, Peter?’ As a result of we’d like the vehicles as a store window for our product.” Lucid goals to scale its manufacturing to 1 million automobiles yearly by the early 2030s, a big improve from the roughly 9,000 anticipated in 2024.
The corporate’s automobiles are crammed with superior know-how developed in-house, making them efficient demonstrators for its capabilities. The Lucid Air, which debuted in 2021, was highlighted as the primary electrical car able to touring over 500 miles on a single cost, surpassing Tesla’s choices. The premium Air Sapphire mannequin boasts 1,234 horsepower and accelerates to 60 mph in below two seconds whereas reaching an estimated vary of 427 miles per cost.
In interviews and earnings calls, Rawlinson continuously emphasizes vitality effectivity, viewing it as a big benefit. He argues that whereas ideas like “miles per kilowatt-hour” could not resonate with the common shopper, they’re essential. Lucid’s dedication to maximizing effectivity means its automobiles, together with the newly launched Gravity SUV, can cowl better distances whereas requiring fewer costly batteries, which Rawlinson believes will result in substantial value advantages sooner or later, regardless of the corporate’s present unprofitable standing.
Along with its shopper automobiles, Lucid has beforehand supplied battery know-how for motorsports, particularly System E. Aston Martin has additionally partnered with Lucid, signing a $450 million settlement to make the most of its motors, battery know-how, and charging infrastructure in an upcoming electrical car.
Below the association with Aston Martin, Lucid will manufacture powertrain parts in Arizona and ship them to the U.Okay. Nevertheless, Rawlinson envisions a future the place Lucid would license its know-how to automakers, permitting them to supply their very own parts. He in contrast this idea to software program licensing, the place Lucid would supply the mandatory software program updates, akin to how Microsoft operates.
Regardless of potential shifts within the EV coverage panorama below a brand new administration, Rawlinson stays optimistic. He acknowledged that the elimination of tax credit for EV leases could possibly be problematic, however he sees any slowdown from opponents as helpful for Lucid. He believes that because the business faces the truth of needing to transition to sustainable transportation, Lucid might be well-positioned to supply its know-how by licensing.
As the corporate prepares for its upcoming earnings report and enters a quiet interval, Rawlinson clarified that the 80% licensing purpose is extra of a imaginative and prescient than a definitive marketing strategy. He said, “I am not making any guarantees,” underscoring the uncertainty of future developments throughout the firm.
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