Technology race: threat of competition from the Apple car? No problem for Lucid Motors CEO Rawlinson | message

—?? Rumors about Apple Car are increasing
?? Lucid Motors has no worries about potential competition
?? The car market will be completely penetrated by electric vehicles

The rumors that the i group Apple could bring out its own vehicle have been persistent for some time. Since the end of last year there have been some news about the mysterious Project Titan, on the one hand the smartphone manufacturer was increasingly looking for employees for its car project. On the other hand, it was also announced that the iGroup was looking for possible cooperation partners from the automotive industry. The plan seems to be that Apple would provide the necessary software, including for autonomous driving, in the event of a possible cooperation, while the appropriate hardware would be built by the vehicle manufacturer. So far, however, no willing partner from the vehicle sector seems to have been found. In general, however, it is assumed that the planned Apple Car will be an electric vehicle, which would put the iCompetition in direct competition with Tesla, NIO or Lucid Motors.

Lucid Motors has no concerns about potential competition from Apple

As Lucid Motors CEO Peter Rawlinson recently indicated in an interview with CNBC star presenter Jim Cramer, he would be calm about possible competition from the smartphone manufacturer: “I welcome competition from a company like Apple,” he said Head of the EV company at Cramer’s request.

Rawlinson is of the opinion that there is still enough space in the market for new competitors. In addition, investors should be aware that the EV market as such does not exist, but that electric vehicles penetrate the automotive market as a whole and ultimately fill it up completely. The only thing that would set the different providers apart would be the technology: “Ultimately, this is a race for technology. Tesla has recognized that and so has Lucid, and I think that is what sets us apart from so many of the traditional carmakers,” said the Lucid Motors CEO.

Lucid Motors: On the stock exchange with SPAC

Of the Electric car-Developer Lucid wants to go public with the help of a SPAC and should achieve a valuation in the double-digit billions. The merger will take place with Churchchill Capital IV, but has not yet been completed.

The Lucid Motors Air Sedan

The EV company’s first own vehicle is the Lucid Air Sedan, which was presented in September 2020 and aims to set itself apart from Tesla, its closest competitor, with a combination of speed and range. The vehicle is offered in four versions, from the basic Air Pure version to the high-priced Air Dream Edition. Just recently, Lucid Motors announced that the entire inventory of the luxury version was now fully reserved.

Finanzen.net editorial team