Lucid Motors, the struggling luxury EV maker backed by billions in Saudi investment, is shifting focus — from making cars to selling technology.
CEO Peter Rawlinson now envisions Lucid as an "Intel of the auto industry," supplying software and hardware to major brands like Honda and Toyota rather than relying on direct vehicle sales.
In an interview with InsideEVs, Rawlinson made it clear that selling cars is not Lucid’s long-term plan. Instead, he wants only 20% of the business to come from vehicles, with 80% focused on licensing deals.
“I would like the distribution to be 20-80. So 20 percent cars and 80 percent licensing agreements," Rawlinson explained. "Just like there's an Intel processor in your laptop, there should be something Lucid in a Honda or Toyota."
Lucid is struggling to move cars, even in Norway, where EVs dominate nearly 90% of new car sales.
Lucid is burning cash at an alarming rate, losing a staggering 4.7 billion kroner ($680 million) in just three months last year.
Meanwhile, Elon Musk has repeatedly mocked Lucid, calling it a "sugar daddy-funded brand" that survives only on Saudi Arabia’s deep pockets.
Despite the financial chaos, Lucid recently delivered the world’s fastest police car—a 1,200-horsepower Lucid Air—to the California Highway Patrol for highway patrol duties.
