Lucid Motors Has Signed A Couple Huge Partnerships
Lucid has been having incredible success as a company lately. Lucid has signed partnerships with Nvidia, Wolfspeed a Semiconductor company, Introduced the Grand Touring Performance model with over 1,050 horsepower, opened their first studio in Europe located in Munich Germany, plus they just got an order from the Saudi Arabia government to get 50,000 vehicles with an option for up to 50,000.
Lucid x Nvidia
Nvidia is a huge partnership for Lucid Motors. Nvidia is an incredibly powerful company that understands that the renewable energy sector and electric vehicles are going to be an enormous market. The electric vehicle industry is projected to reach a total addressable market of over $1 trillion by 2026. The renewable energy market is projected to hit $2 Trillion by 2030.
Michael Bell, the former Chief Technology officer for Rivian is now responsible for software development, ADAS, and IT for Lucid Motors. Here is what he thinks about the Nvidia Drive platform paired with the award winning Lucid Air.
“The seamless integration of the software-defined NVIDIA DRIVE platform provides a powerful basis for Lucid to further enhance what DreamDrive can do,” said Mike Bell, Senior Vice President of Digital for Lucid Motors
Lucid Motors x Wolfspeed
Lucid has signed a deal with Wolfspeed! This is a significant deal for Lucid Motors to sign a deal with the Next Generation Semiconductors.
“Lucid’s proprietary powertrain technology – engineered and produced in-house – is at the core of what makes Lucid Air the most advanced and most efficient luxury electric vehicle in the world,” said Eric Bach, Senior Vice President of Product and Chief Engineer at Lucid. “With the perfect blend of high performance and high efficiency, Wolfspeed’s innovative Silicon Carbide MOSFET power semiconductors are an ideal fit for Lucid’s advanced technology.”
Lucid is going to need a lot of semiconductors to be able to produce those 50,000 vehicles that the Saudi Arabia Government just bought with an option to buy 50,000 more! This is a great partnership.
Lucid Group Is Rapidly Expanding
Lucid has announced that they are opening a European studio in Munich Germany. Lucid Motors has been opening more studios in the United States and Canada. Lucid Motors expansion is starting to begin its inflection point.
My Thoughts On The Previous Lucid Motors News
Lucid has received a ton of huge news lately. Investors and supporters of the company could not be more excited. I believe that these moves and the deal with the Saudi Arabian Government is an absolute gamechanger. This shows that the PIF and Saudi Arabia are not just majority shareholders, they are long term partners. They will not be selling their shares and Lucid like I have previously said, is in the PIFs 2030 Vision.
Images courtesy from Lucid Motors Gallery
Anthony Donati focuses on electric vehicles and renewable energy companies. He covers Lucid Motors news at Torque News. Please follow him on Twitter at @TheLucidVerse for daily Lucid Motors news. He has a degree in Business Administration with a concentration in Finance. DISCLAIMER: Anthony is a Lucid Motors (LCID) stock holder.