Lucid Ready for the Apple Car as It’s All a “Technology Race” Now

Lucid says the EV market doesn't exist as a separate business 1 photo
Photo: Lucid
Apple still doesn’t want to say a single word about its anticipated Apple Car, but pretty much everybody knows it’s already working on an electric vehicle.
The press knows it, analysts know it too, and carmakers across the world understand it’s all just a matter of time until Apple officially takes the wraps off the Apple Car.

In the last few months, officials of several “traditional” carmakers commented on the rumors regarding an Apple Car, most of them explaining that Apple stepping into the automotive industry doesn’t represent a threat to their market share by any means.

And now the CEO of Lucid Motors shares pretty much the same message, explaining that Apple’s debut in this business only generates more competition. And eventually, competition is the one that pushes hard for innovation.

I welcome the competition from a company like Apple,” Lucid Motors CEO Peter Rawlinson said during CNBC’s Mad Money this week. “Ultimately, you know, this is a technology race. Tesla recognizes that and Lucid recognizes that, and I think that's what differentiates so many of the traditional car companies.

Interestingly, Rawlinson emphasizes that the EV market as a separate category doesn’t exist, as electric cars are part of the automotive industry as a whole. And this is why a new company expanding into this world isn’t by any means something impossible.

There’s always room for new entries, and don’t ... underestimate the [car] market, because this isn’t a market for EVs. There’s no such thing as an EV market,” Rawlinson continued. “This is a market for cars and EVs will penetrate and completely fill that.

In the meantime, however, Apple still has a hard time finding someone to build the Apple Car. After failed talks with Hyundai, Nissan, and possibly other carmakers, Apple could eventually turn to Foxconn to manufacture the Apple Car.
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About the author: Bogdan Popa
Bogdan Popa profile photo

Bogdan keeps an eye on how technology is taking over the car world. His long-term goals are buying an 18-wheeler because he needs more space for his kid’s toys, and convincing Google and Apple that Android Auto and CarPlay deserve at least as much attention as their phones.
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