Genesis, the luxury division of the Hyundai Group, is reportedly on the verge of finalizing an agreement to purchase electric motors from Lucid Motors. This deal would mark Lucid’s second motor supply arrangement following a previous agreement with Aston Martin and contributions to the Formula E race series.

Sources indicate that Genesis aims to release the production version of its Genesis X Convertible Concept by 2026. To meet this goal efficiently, the company sees Lucid’s high-performance electric motors as a viable solution in terms of both time and cost. These motors, known for their refinement, range, and output, align well with Genesis’s aspirations in the luxury segment.

Discussions reportedly include detailed negotiations over the pricing of the electric motors and the specific models they will be used in, suggesting the possibility of their integration into multiple Genesis vehicles.

Additionally, it’s noted that Hyundai Group executives, including Chairman Chung Eui-sun and CEO Jang Jae-hoon, visited Lucid’s headquarters in California earlier this year. Lucid vehicles have also been spotted on South Korean roads, potentially linked to other business dealings between the companies, such as Lucid’s procurement of electronic components from the Korean firm HL Group for their upcoming Gravity SUV.