Zhithong Finance APP learned that Lucid (LCID.US) CEO Peter Rawlinson mentioned in an interview that the electric vehicle manufacturer is engaged in discussions with several Auto Manufacturers about partnership matters.

Rawlinson stated, "It would be great if we could provide technology to a traditional Auto Manufacturer to help them transition to sustainable development. Perhaps we could leverage their Auto Parts warehouse and economies of scale in other areas of Business."

Earlier this year, Rawlinson stated that interest in Lucid's technology is increasing.

Lucid currently sells the Lucid Air and has just begun production of the Lucid Gravity SUV. The company has a contract to supply electric vehicle Auto Parts to Aston Martin, but the announcement of the contract has been delayed until 2026 due to a lack of customer interest.

This development is not surprising, as electric vehicle rival Tesla (TSLA.US) is soaring, while Rivian Automotive (RIVN.US) has crucial partnerships with Amazon (AMZN.US) and Volkswagen (VWAGY.US).

Globally, Lucid has established significant partnerships with Saudi Arabia. In September 2023, Lucid opened Saudi Arabia's first Auto Manufacturing plant AMP-2 in King Abdullah Economic City. The initial annual production capacity of the plant is 5,000 electric vehicles, with plans to expand to 155,000 vehicles per year. Saudi Arabia has committed to purchasing up to 100,000 Lucid vehicles within ten years.

As of Thursday in Pre-Market Trading, Lucid's stock price has risen nearly 3%.