It seems like things are going up. The company announced Monday that it plans to put the air into operation by the end of 2020. Furthermore, the construction of a production facility in Casa Grande, Arizona, began. Lucid said that this initial construction period reflects a $ 300 million investment in the region.
After Lucid found an investor last April. Now, thanks to the Saudi Arabian Public Investment Fund, the state fund of the kingdom, the startup is flush with $ 1 billion. Since the company is private, it did not disclose what conditions were associated with the significant cash inflow, but it is likely that the Saudi fund has acquired a majority stake in the company.
"With supportive investors, an outstanding team of designers, and we now assume that our many years of presence in this dynamic city of engineers and a product strategy that goes far beyond the air will be just the beginning," said Peter Rawlinson, CEO of Lucid Motors, on the groundbreaking story this week.
If everything goes as planned, Lucid claims that by 2029 it will directly and indirectly create 4,800 new jobs at the plant. By the mid-2020s, the company will invest $ 700 million in the region.
As far as his first car is concerned, the Air will probably have up to 1,000 horsepower and an estimated electric range of 400 miles. A lower specification model is likely to be equipped with a lower output of 400 hp and an estimated range of 240 miles. The company has historically set a starting price of $ 60,000 and promised that the electric sedan will use the latest self-propelled technologies.is obviously a great example. Elsewhere, older automakers will question the prospects for young startups like Lucid. GM plans for 20 electric cars by 2023; Ford will have its ready for production next year and Volkswagen will launch its next year in America. And if there is anything that Tesla has shown in the last decade, then it is so hard to build cars .