Lucid CEO Peter Rawlinson says that the cheap electric car market sucks. Instead of building a low-cost Lucid, he thinks other OEs should license its tech. Other brands might already be planning on a cheap EV with or without Lucid. Tesla and Elon Musk have long promised a $25,000 electric vehicle, but that idea has now been largely abandoned, with the EV maker's boss recently dismissing it as pointless.
As a tech company licensing out tech so that other OEs can benefit from that and they could put such a vehicle in place. They have a more installed manufacturing base. No doubt, other OEMs have a larger production infrastructure when compared to Lucid. The fledgling EV company will sell fewer cars this year than supercar manufacturer Lamborghini, a far cry from the kind of figures it'll need to do to be a long-term sustainable brand of its own merit.
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: NBCDFW - 🏆 288. / 63 Read more »
Source: CNBC - 🏆 12. / 72 Read more »