Luxury electric vehicle (EV) equipment manufacturer Lucid plans to pursue more deals to sell its technology, according to its CEO. The company recently announced a deal with Aston Martin to provide them with EV technology, including a rear drive unit, motors, battery modules, and software. The parts will be sourced from Lucid’s plant in Arizona. Lucid’s CEO, Peter Rawlinson, stated that the Aston Martin deal marks the beginning of the company’s business in supplying technology to other carmakers. He also revealed that Lucid is in talks to license and sell its powertrain technology, although no specific details were provided. Rawlinson mentioned that Lucid’s initial focus will be on providing high-performance, ultra-high voltage technology, which would not be suitable for the mass-market. However, as the company moves towards developing more mass-market models, its business of licensing out parts is expected to grow. Lucid is planning to launch a model to compete with Tesla’s mass-market option, the Model 3, in the latter half of the decade. The company’s push to become a supplier to other carmakers is similar to the strategy of Croatian electric sports car maker Rimac. Aston Martin and Lucid both have a common shareholder in Saudi Arabia’s Public Investment Fund (PIF), although Rawlinson emphasized that the Saudi wealth fund had no role in the deal. Rawlinson stated that Aston Martin chose Lucid independently because they believed it offered the best available technology. Lucid, like many other EV manufacturers, has been facing financial challenges, including mounting losses, tightening cash reserves, and intense competition from Tesla. By expanding its business to supply technology to other carmakers, Lucid aims to strengthen its position in the market and improve its financial situation.