Genesis, Hyundai’s luxury brand, may be close to sealing a deal with Lucid. The South Korean brand is about to conclude the purchase of electric motors from the American company according to Sisa Journal. The electric motors will reportedly power Genesis’ upcoming luxury battery-powered convertible.
Hyundai has been investing in its own electric vehicles and platforms. However, according to the news outlet, the time frame of the development lags behind other plans Genesis has. The sub-brand wants to bring the Genesis X Convertible Concept to the market by 2026.
Genesis is taking the easier route by sourcing electric motors for the convertible from Lucid, whose product has been tested to be high-performance, efficient, and cost-effective in its own luxury cars.
Meanwhile, Sisa Journal has approached Hyundai about the deal, but the carmaker refused to confirm or deny it.
However, it reports the two companies are in the stage of concluding pricing and which models the motors will power, suggesting they could be used in other models.
Lucid has been in the business of selling electric motors for a while. It signed a similar contract with Aston Martins last year and supplied front power units for the Formula E racing series.
