Lucid picks panasonic as battery supplier for its luxury evs
Panasonic Corporation has announced that it will supply batteries for the electric vehicles sold by Lucid Motors.
Panasonic has signed a supply agreement with Lucid Motors, to supply automotive battery cells for the company's luxury all-electric vehicles. The battery supply agreement is part of the companies' ongoing partnership to build a portfolio of electrified vehicles for the U.S. market. In addition, this partnership will ensure Lucid's future access to advanced battery technologies that are essential for its zero-emission electric car program. It is a win-win situation as it will help both companies grow their businesses.
Lucid is responsible for creating several groundbreaking electric vehicles that are designed to be high-quality and comfortable to drive in diverse settings. The company has also worked with suppliers around the globe to develop technology that enables them to develop their own vehicles that meet consumer preferences while also providing more environmentally friendly options for consumers.
As one of the leading manufacturers of lithium-ion batteries, Panasonic is committed to growing its global distribution network for the next generation of EVs. The deal is another example of how the company is expanding into new markets and industries as it works to diversify its revenue stream and gain new customers.
"Panasonic is a fantastic partner with both innovative technology and depth of experience," "This agreement will help us meet the growing demand for lithium-ion batteries as we continue to ramp production of the full Lucid Air line-up in 2023 and expect to begin production of our Gravity SUV in 2024." Lucid's CEO and CTO, Peter Rawlinson stated.
"With the increased electrification of the automotive market, partnerships with technology-leading EV manufacturers such as Lucid are critical to our mission," "This partnership will help us drive growth of the lithium-ion battery industry and accelerate the world towards a net-zero emissions future." President, CEO of Panasonic Energy Co Kazuo Tadanobu announced.
This is a great way for Panasonic to expand on its efforts in battery manufacturing, while Lucid Motors gets an instant boost to the ecosystem of motors and batteries that it will have at its disposal when the companies' luxury EVs hit the market.
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