Unlock stock picks and a broker-level newsfeed that powers Wall Street.
Lucid and Saudi Arabia's KAUST Announce Strategic Partnership to Advance EV Technology Leadership and Grow Autonomous Driving and Advanced Driver Assist System Capabilities
Partnership leverages growing resources in the Kingdom of Saudi Arabia to advance key areas in Lucid's technology roadmap while progressing the country's vision for sustainable mobility
KING ABDULLAH ECONOMIC CITY, Saudi Arabia, May 5, 2025 /PRNewswire/ -- Lucid Group, Inc. (NASDAQ: LCID), maker of the world's most advanced electric vehicles, and King Abdullah University of Science and Technology (KAUST), a leading academic and research institution focused on science and technology innovation with regional and global impact, today announced a strategic partnership designed to shape the future of EV technology. Leveraging the growing resources in the Kingdom of Saudi Arabia, Lucid aims to further advance the company's technology leadership.
Faisal Sultan, Vice President and Managing Director for Middle East at Lucid, and Pierre Magistretti, Vice President of Research at King Abdullah University of Science and Technology (KAUST) sign the strategic partnership agreement.
"KAUST's world-class research infrastructure and talent has the potential to further boost our technology leadership in many dimensions incl. our ADAS and AD roadmap—bringing cutting-edge innovation from the lab to the road," said Marc Winterhoff, Interim CEO at Lucid. "This collaboration also strengthens our global R&D footprint bringing additional resources to bear in our efforts to continue as a leader in EV powertrain, battery systems, advanced materials, and software-defined vehicle platforms. As this partnership demonstrates, we continue to strengthen our collaboration with the Kingdom and are fully committed to working together to help achieve their vision to become a global center for mobility innovation."
As part of this cooperation, Lucid will have access to KAUST's supercomputing capabilities.
"KAUST is proud to partner with Lucid to join our research capabilities with their real-world EV expertise while contributing to the Kingdom's strategic goals," said Sir Edward Byrne AC, President of KAUST. "This collaboration underscores our joint commitment to pioneering innovative solutions in electric vehicle technology."
"Access to high-performance computing at this level is truly transformative," said Eric Bach, SVP of Product and Chief Engineer at Lucid. "It dramatically enhances our ability to develop advanced fluids, materials and alloys, simulate real-world physics for crash safety and structural optimization, model fluid dynamics and thermal transfer, analyze electromagnetic flux, and accelerate AI training for digital twin technology, autonomous systems, and large language models. We're deeply grateful for this opportunity and excited about the breakthroughs it will drive across our engineering and AI initiatives."
Joint efforts will also focus on the design and prototyping of next-generation components and systems, integrating disciplines such as mechanical, electrical, thermal, and chemical engineering. Advancements in materials science will play a pivotal role, with research dedicated to high-performance metallic and polymer-based composites, heat-reflective glass coatings, innovative laminates, and alternative non-conventional materials —each aimed at optimizing vehicle efficiency and durability.
The collaborative research and development activities will be hosted at KAUST's advanced laboratories in King Abdullah Economic City.
About Lucid Group Lucid (NASDAQ: LCID) is a Silicon Valley-based technology company focused on creating the most advanced EVs in the world. The award-winning Lucid Air and new Lucid Gravity deliver best-in-class performance, sophisticated design, expansive interior space and unrivaled energy efficiency. Lucid assembles both vehicles in its state-of-the-art, vertically integrated factory in Arizona. Through its industry-leading technology and innovations, Lucid is advancing the state-of-the-art of EV technology for the benefit of all.
This communication includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "shall," "expect," "anticipate," "believe," "seek," "target," "continue," "could," "may," "might," "possible," "potential," "predict" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding Lucid's expectations related to the priorities and focus areas of the strategic partnership. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of Lucid's management. These forward-looking statements are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from these forward-looking statements. Many actual events and circumstances are beyond the control of Lucid. These forward-looking statements are subject to a number of risks and uncertainties, including those factors discussed under the heading "Risk Factors" in Part I, Item 1A of Lucid's Annual Report on Form 10-K for the year ended December 31, 2024, as well as other documents Lucid has filed or will file with the Securities and Exchange Commission. If any of these risks materialize or Lucid's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Lucid currently does not know or that Lucid currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Lucid's expectations, plans or forecasts of future events and views as of the date of this communication. Lucid anticipates that subsequent events and developments will cause Lucid's assessments to change. However, while Lucid may elect to update these forward-looking statements at some point in the future, Lucid specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Lucid's assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements.
