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Let’s break down the connections between the Apple Car Development Team and Lucid Group.
Who is Kevin Lynch?
First off let’s talk about Kevin Lynch who was named Apple Car Lead on July, 16 2021. Lynch has had many roles at Apple as well as Adobe and played a key role in the creation of Creative Cloud. The first leader of the Apple Car Development program was Bob Mansfield (retired in 2020) followed by John Giannandrea (Apple AI and machine learning chief) finally followed by Lynch.
State of Apple Car
As of July 16th 2021 it is rumored that Apple is now sourcing components, talking with suppliers, and making deals with manufacturing partners for the Apple Car. Still in the early stages the Apple Car is rumored to hit the market between 2025 and 2028.
Lucid Group + Kevin Lynch
Michael Bell (Lucid Senior VP of Digital) - 16 years at Apple of which includes significant roles in development of iPhone, iMac, AirPort, and Apple TV. Bell and Lynch worked together closely on the development of iMac.
Margaret Burgraff (Lucid VP of Software Validation) - 15 years at Apple of which includes working on the development and launch of the original iMac with you guessed it Kevin Lynch
Sir Johny Ive (Operating Partner for Spac now LCID) - Designer of iMac where he worked closely with Kevin Lynch.
Lack of Denial April 3rd 2021
Peter Rawlinson (Lucid CEO) was asked point blank in an interview with The Guardian, if he had been approached by or was currently engaged in negotiations with Apple on a partnership for the Apple Car, in which he declined to comment. Per the NYSE rules false rumors must be promptly denied or clarified this would suggest they are true, but not at a point in which either company can release a statement.
In my opinion an Apple + Lucid partnership is still very likely giving the lack of denial and the connections between high ranking Lucid employees and Kevin Lynch, but with a go to market target of 2025-2028 it could still be months before we receive an update on a potential partnership. I am long $LCID and continue to hold.
Positions: 725 shares @ $53.60