Photo: Genesis
Lucid Motors might be the supplier of electric motors for the upcoming production version of the Genesis X Convertible Concept. Rumors indicate that Hyundai Motor is in advanced talks with Lucid Motors, although neither company has confirmed or denied it. If the deal goes through, this will be Lucid's third e-motor supply agreement after the ones signed with Aston Martin and Formula E.
Lucid is having some hard times lately despite having a powerful backer in Saudi Arabia's Private Investment Fund (PIF). The EV startup is struggling to find buyers for its Air electric sedan despite expanding to markets in Europe and the Middle East. At the same time, it is working hard to start production of the Gravity SUV. This makes the EV startup a little cash-strapped, which is why it was forced to make some painful decisions, including significant layoffs.
However, a report from Korea indicates that Hyundai Motor might offer Lucid Motors a lifeline. The automotive giant will reportedly use Lucid's electric motors in one or several of its models. Specifically, Hyundai eyes Lucid's ultra-efficient e-motors for use in the upcoming production version of the Genesis X Convertible Concept. The droptop is expected to start production in 2026, with Bentley in the crosshairs.
The information has been shared by South Korea's Sisa Journal, which claims that Genesis and Lucid are in the final stages of negotiation. According to the report, Genesis's parent company is considering using Lucid's high-performance electric motors to cut development time and costs. Lucid is the industry leader in e-motor efficiency, as the Air sedan has proved, allowing the EV startup to sell its technology to other companies.
To be fair, Hyundai Motor has frantically invested in its own electric motors and EV platforms. Although they are nowhere near Lucid's refinement and efficiency, they do a pretty good job in the Ioniq 6, Hyundai's most efficient EV model. However, with the deadline for the luxury convertible looming, Genesis didn't want to waste more time refining its existing EV drive units.
Even though expensive, at over $3,600 per unit, Lucid's electric motors are considered among the best in the industry in terms of both efficiency and power density. Genesis will need at least four years to develop and produce something comparable, which is too much if it wants to start production of the convertible sports car in 2026. This makes Lucid's motors a better solution, at least in the short term. After all, it worked for Aston Martin, another luxury carmaker that signed a deal with Lucid to supply electric motos and battery-related technologies.
Lucid and Genesis are reportedly finalizing the deal terms, including e-motor's prices and the models that will use them. This suggests that Lucid might supply motors for more models than just the Genesis X. In return, Hyundai Motor might help the EV startup develop its compact SUV, which it plans to launch in late 2026. The E-GMP architecture would be a good fit and allow Lucid to save development costs.
However, a report from Korea indicates that Hyundai Motor might offer Lucid Motors a lifeline. The automotive giant will reportedly use Lucid's electric motors in one or several of its models. Specifically, Hyundai eyes Lucid's ultra-efficient e-motors for use in the upcoming production version of the Genesis X Convertible Concept. The droptop is expected to start production in 2026, with Bentley in the crosshairs.
The information has been shared by South Korea's Sisa Journal, which claims that Genesis and Lucid are in the final stages of negotiation. According to the report, Genesis's parent company is considering using Lucid's high-performance electric motors to cut development time and costs. Lucid is the industry leader in e-motor efficiency, as the Air sedan has proved, allowing the EV startup to sell its technology to other companies.
To be fair, Hyundai Motor has frantically invested in its own electric motors and EV platforms. Although they are nowhere near Lucid's refinement and efficiency, they do a pretty good job in the Ioniq 6, Hyundai's most efficient EV model. However, with the deadline for the luxury convertible looming, Genesis didn't want to waste more time refining its existing EV drive units.
Even though expensive, at over $3,600 per unit, Lucid's electric motors are considered among the best in the industry in terms of both efficiency and power density. Genesis will need at least four years to develop and produce something comparable, which is too much if it wants to start production of the convertible sports car in 2026. This makes Lucid's motors a better solution, at least in the short term. After all, it worked for Aston Martin, another luxury carmaker that signed a deal with Lucid to supply electric motos and battery-related technologies.
Lucid and Genesis are reportedly finalizing the deal terms, including e-motor's prices and the models that will use them. This suggests that Lucid might supply motors for more models than just the Genesis X. In return, Hyundai Motor might help the EV startup develop its compact SUV, which it plans to launch in late 2026. The E-GMP architecture would be a good fit and allow Lucid to save development costs.
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