A South Korean report says Genesis is reportedly close to a deal to buy e-motors from Lucid for Genesis' X Convertible Concept luxury droptop.
South Korea's Sisa Journal , via the site Eletric-Vehicles, reports that Hyundai Group luxury brand Genesis and Lucid Motors are in the final stages of working out a deal for the former to buy electric motors from the latter. If a deal does go through, it would be Lucid's second motor supply arrangement after agreeing to terms with Aston Martin almost exactly a year ago, or third if you count the front power units Lucid built for the Formula E race series.
We know Hyundai's throwing huge resources at developing in-house platforms and motors, so why would it potentially make a deal with Lucid? SJ says Genesis is aiming to release the production version of the Genesis X Convertible Concept onto the market by 2026. That's the droptop company execs reportedly previewed to dealers in January 2023 with Bentley in its sights.
The report also said part of the fine-toothed work includes"ironing out details such as the pricing of the electric motors and the specific models they will be integrated into," hinting the power units could end up in more than just the convertible. There's supposedly a little backstory to this, with Hyundai Group chairman Chung-Eui-sun and CEO Jang Jae-hoon visiting Lucid headquarters in California earlier this year, and the Lucid Air and coming Gravity SUV spotted on South Korean roads. The Lucid sightings in Asia could be unrelated to this report, but tied to another South Korean connection.
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