Buzz suggests Hyundai Motor is engaged in progressive discussions with Lucid Motors, a situation that remains unverified by either party. Should the agreement materialize, it would mark Lucid's third e-motor supply deal, following collaborations with Aston Martin and Formula E. According to rumors, Lucid's power units could be utilized in Genesis' high-end convertible model.

Genesis in Talks with Lucid Motors for Electric Convertible

Genesis purportedly seeks to enhance its electric vehicle endeavors by partnering with Lucid Motors. Allegedly, the Hyundai Group's luxury division, Genesis, and Lucid Motors are in advanced discussions to finalize an agreement where Genesis would procure electric motors from Lucid Motors.

According to a recent CarScoops report, indications point to an imminent collaboration between Genesis and Lucid to compete against industry competitors. The partnership may lead to a Genesis-branded product featuring Lucid powertrain elements.

Central to this agreement is the incorporation of Lucid's electric motor technology into upcoming Genesis vehicles, possibly including the Concept X convertible in production. CarScoops emphasized that should this partnership be validated, it would represent a substantial milestone for both companies.

Genesis stands to acquire advanced electric powertrains, and Lucid might broaden its market reach for this pivotal technology. As per reports from South Korea's SisaJournal, an insider in the industry disclosed that Hyundai Motor President Jang Jae-hoon held discussions with Hyundai Motor Group's Chief Creative Officer Luc Donckerwolke and representatives from Lucid.

Additionally, it is said that he provided Chairman Chung Eui-sun with updates regarding this business visit.

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More Details about Genesis, Lucid Partnership

According to Autoblog, SJ mentioned that Genesis is targeting the market release of the production model based on the Genesis X Convertible Concept by 2026. This convertible was reportedly shown to dealers in January 2023, with aspirations to rival Bentley.

With the deadline approaching in just two years, SJ states that Genesis recognized the efficiency in time and cost by utilizing Lucid's high-performance electric motors. The proven refinement, range, and power output of Lucid's motors in the luxury sector where Genesis aims to compete further support the potential collaboration.

The detailed planning phase involves finalizing aspects like electric motor pricing and the specific models for integration, indicating the likelihood of these power units being utilized beyond just the convertible.

Reported by Autoevolution, despite their high cost exceeding $3,600 each, Lucid's electric motors are widely regarded as top-tier in the industry for their efficiency and power density. Genesis would require a minimum of four years to create a comparable alternative, which is impractical given the goal of commencing production on the convertible sports car by 2026.

Therefore, in the interim, opting for Lucid's motors appears to be a more viable solution. This strategy has already proven successful for Aston Martin, another luxury automaker that partnered with Lucid for electric motors and battery technology.

About Genesis

Car and Driver reported that Genesis, established in 2015 as Hyundai's luxury division, sets its sights on competing with established brands like BMW, Lexus, and Mercedes-Benz. The upscale G80 and G90 sedans, designed to rival top players, promise superior value compared to their German luxury counterparts.

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