Saudi News: Lucid, supported by Saudi Arabia, in talks for partnership with automaker on electric vehicle technology

His rival Lucid is considering his IPO in a few years, said Peter Rawlinson, director of technology,

In September, Lucid won a $ 1 billion investment from Saudi Arabia's sovereign wealth fund, which secured long-sought financing, which is crucial for the production of its first model, the Air sedan.

Lucid Motors is in talks with automakers on the possible sharing of its electric vehicle technology and plans to make it public in a few years, said a senior executive.

The company does not think of a potential sale, said chief technology officer Peter Rawlinson in an interview.

Lucid had already contemplated a conversation with Ford Motor at an early stage and had even held discussions about it, it was reported in July 2017, citing people close to the discussions.

"We are currently talking to companies interested in our technology," Rawlinson told the BloombergNEF Summit in San Francisco.

"If there is a possibility of partnership with a way that does not dilute our brand and that is beneficial, then it will ultimately be a decision of the board."

In September, Lucid won a $ 1 billion investment from Saudi Arabia's sovereign wealth fund, which secured long-sought financing, which is crucial for the production of its first model, the Air sedan. The company plans to start building a plant in Arizona this spring and start building the car by the end of 2020.

Rawlinson, who was chief engineer of the Model S when he was working for Tesla, said Lucid had developed a world-clbad technology that traditional builders lack and could benefit from.

He refused to identify the carmakers with whom Lucid is in talks and said the company would not make an initial public offering before the production of the Air.

"We want to develop this business. Some sort of short-term sale of a sale is just not on the agenda for me or for the team, "he said. "We see tremendous and long-term value for Lucid."

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