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Lucid’s financing still in the dark

Posted by   /  April 16, 2017  /  No Comments

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Lucid Air

By Heather Smathers | PinalCentral

Plans for Lucid’s electric-car manufacturing plant in Casa Grande appear to be moving ahead, but details on who is financing the company are still sketchy.

Lucid spokesman David Salguero said the first phase of funding, $240 million, would allow the plant to be built and for production of up to 10,000 vehicles to begin in 2019.

“From there, the size and production volume of the factory grows in two more phases. We anticipate phase three to be completed in 2022,” Salguero told PinalCentral.

“At that point, the total investment will have been about $700 million and total employment will be about 2,000 full-time employees.”

Salguero declined to say specifically where the investment money would come from or how much investment it would take for phase two to begin. He did confirm that the company is in the process of securing its Series D venture capital investments.

Continued:

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  • Published: 4 months ago on April 16, 2017
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  • Last Modified: April 16, 2017 @ 11:11 am
  • Filed Under: Transportation

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