- A new report suggests that Genesis and Lucid are on the brink of a partnership aimed at challenging their rivals.
- At least one resulting product would bear a Genesis badge but incorporate Lucid powertrain components.
- The deal holds immense potential for the entire Hyundai, Kia, and Genesis family.
Genesis is reportedly aiming to bolster its electric vehicle ambitions through a collaboration with Lucid Motors. The focus of this arrangement revolves around Lucid’s electric motor technology, which would be integrated into future Genesis models including a production version of the Concept X convertible.
If confirmed, this collaboration would mark a significant development for both brands. Genesis would gain access to cutting-edge electric powertrains, while Lucid could potentially expand its customer base for this critical technology.
Read: Hyundai Poaches Ex-Porsche Taycan And Apple iCar Engineer To Make Future Genesis EVs Sick
According to South Korean’s SisaJournal, an industry insider revealed that Hyundai Motor President Jang Jae-hoon met with Hyundai Motor Group’s Chief Creative Officer (CCO) Luc Donckerwolke, and Lucid officials. He also reportedly briefed Chairman Chung Eui-sun on the business trip.
The report suggests that the two brands are close to finalizing a deal that would see Lucid’s motors power an upcoming Genesis convertible inspired by the X Concept. Sports car segments typically yield low margins, which explains why brands like BMW, Toyota, and Subaru often collaborate on them to lower their overhead costs. This fact lends credibility to the Genesis-Lucid rumor.
Lucid’s powertrains deliver outstanding power and range, while boasting exceptional packaging. This combination is undoubtedly worthy of attention and potential collaboration for brands seeking to rapidly accelerate their presence in the EV market.
Lucid has already struck a deal with Aston Martin to provide drivetrain components, so this type of collaboration isn’t unprecedented. Moreover, it could serve as a valuable source of income for Lucid, which could be beneficial for the company.
Here’s the wild thing about this whole situation. Genesis might still be working hard to make a name for itself in the luxury segment, but Hyundai and Kia have already come a long way. If either of these other Korean brands were to benefit from a partnership with Lucid, it could unsettle competitors like Tesla. The EV6 and Ioniq 5 are already highly regarded. Imagine the impact if they were to boast even greater power and range through collaboration with Lucid.
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