Lucid Motors win contracts to develop battery modules for Defense Department

HC_79

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  • Canoo and Lucid Motors were awarded contracts to develop battery modules for testing and analysis on Department of Defense platforms, according to a Feb. 1 press release.
  • The two companies will help the department standardize a battery module that would increase the agency’s demand signal for commercial batteries and reduce barriers to commercial sector collaboration. GM Defense and two more yet-to-be named manufacturers are also participating.
  • The manufacturers will also be part of the Jumpstart for Advanced Battery Standardization project, which will allow commercial EV battery manufacturers to test and develop standards required to adapt batteries for a vast range of Defense Department platforms.

  • Lucid Motors, a luxury EV manufacturer, will utilize its high-voltage battery systems for its EVs and develop scalable battery modules that will be tested for integration in electrified tactical military vehicles.
 
Well, that's good news for the earnings call. Every source of cash at this point is a win.
 
So, wondering why stock hasn’t moved much 🧐🧐
 
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