Facing sales difficulties with its Air electric sedan, Lucid is striving to overcome challenges despite substantial backing from Saudi Arabia’s Private Investment Fund (PIF) and efforts to enter new markets.
At the same time, the company is preparing to launch production of its Gravity SUV while dealing with financial constraints that have necessitated significant workforce reductions. In a potentially positive development, Hyundai Motor is reportedly considering incorporating Lucid’s electric motors into its vehicles.
Specifically, Hyundai is interested in using Lucid’s highly efficient motors in the forthcoming Genesis X Convertible Concept, which is planned for release in 2026. According to South Korea’s Sisa Journal, Genesis and Lucid are in advanced negotiations, with Genesis aiming to leverage Lucid’s high-performance motors to accelerate development and reduce costs.
Although Hyundai has heavily invested in its electric motors and platforms, they recognize Lucid’s expertise, especially demonstrated in the efficiency of the Air sedan.
While Hyundai’s electric motors are highly regarded, the urgency to meet the luxury convertible’s deadline makes Lucid’s motors an attractive option due to their proven performance and compact design.
This approach mirrors Aston Martin’s successful collaboration with Lucid on electric motor and battery technologies. As discussions continue, Lucid might provide motors for additional Genesis models, potentially leading to more extensive collaboration between the two companies.