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Lucid Motors CEO welcomes competition from Apple Car

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What you need to know

  • Lucid Motors CEO Peter Rawlinson was on CNBC's 'Mad Money' this week.
  • The CEO says that, since the EV market will eventually overtake the entire car market, there is plenty of room for competition from companies like Apple.

Lucid Motors CEO Peter Rawlinson doesn't seem too concerned with the idea of an Apple Car making its way onto the market.

In an interview on CNBC's Mad Money, Rawlinson was asked about his thoughts on a potential electric car from Apple. The CEO said that he welcomed the competition and pointed out that those with the best technology in the car will win out.

"I welcome the competition from a company like Apple," Rawlinson said in a "Mad Money" interview. "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."

Rawlinson went on to say that electric vehicles will eventually take over the entire car market so there is plenty of room for more companies to exist in that space.

"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," said Rawlinson, formerly of Tesla. "This is a market for cars and EVs will penetrate and completely fill that."

Rawlinson is the latest car CEO to express confidence despite the impending competition of Apple Car. BMW's CEO made similar comments a couple of weeks ago.

Apple has been long-rumored to be readying its own electric and autonomous vehicle to enter the market. Despite a slew of recent rumors, it is not expected to see a release until at least 2025, according to supply chain experts like Ming-Chi Kuo.

Joe Wituschek
Contributor

Joe Wituschek is a Contributor at iMore. With over ten years in the technology industry, one of them being at Apple, Joe now covers the company for the website. In addition to covering breaking news, Joe also writes editorials and reviews for a range of products. He fell in love with Apple products when he got an iPod nano for Christmas almost twenty years ago. Despite being considered a "heavy" user, he has always preferred the consumer-focused products like the MacBook Air, iPad mini, and iPhone 13 mini. He will fight to the death to keep a mini iPhone in the lineup. In his free time, Joe enjoys video games, movies, photography, running, and basically everything outdoors.